CoreLogic has increased financial guidance for the second quarter. The company expects second quarter 2020 financial results to exceed previously issued revenue and adjusted EBITDA guidance ranges driven principally by continued market share gains and operating leverage attributable to higher U.S. mortgage market volumes, according to the release.
Expected financial impacts attributable to COVID-19 remain consistent with assumptions incorporated in previously issued guidance, the company said.
“CoreLogic continues to deliver strong growth and profitability driven by market share gains, higher market volumes, favorable revenue mix and the benefits of the ongoing productivity programs,” CoreLogic President and CEO Frank Martell said in the release. “For the fourth successive quarter, we expect to deliver profits in line with our 30 percent margin target. We also continued to return significant capital and reduce debt levels based on our durable cash generative model.
“As we look ahead to the second half of the year, based on currently available external forecasts, we expect to continue to benefit from favorable U.S. market volumes as well as share gains and the flow through of cost productivity and operating leverage,” Martell added.