Guidehouse To Buy Navigant Consulting; Navigant Q2 Profit From Cont. Ops. Rises

(RTTNews) - Guidehouse, a portfolio company of Veritas Capital, has agreed to acquire Navigant Consulting, Inc. (NCI) in a approximately $1.1 billion deal. Navigant shareholders will receive $28 in cash per share. The combined company will be led by Scott McIntyre, CEO of Guidehouse. The closing of the deal is anticipated in the fourth quarter. Shares of Navigant were up more than 15% in pre-market trade on Friday.

Separately, Navigant Consulting reported second-quarter adjusted earnings per share from continuing operations of $0.29 compared to $0.18, prior year. On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $0.21, for the quarter. Analysts' estimates typically exclude special items.

Second-quarter net income from continuing operations attributable to Navigant Consulting was $8.6 million, or $0.22 per share, up $2.5 million or 40% compared to the second quarter 2018.

Navigant reported second-quarter revenues of $223.1 million, up 21% from prior year. Revenues before reimbursement were $196.6 million, up 19% from prior year. Analysts expected revenue of $186.47 million, for the quarter.