Stamps.com Q3 Profit Rises; Lifts FY Outlook

(RTTNews) - Stamps.com (STMP), a provider of postage online and shipping software, reported that its net income for the third quarter ended September 30, 2020 rose $64.0 million or $3.30 per share from $9.1 million or $0.52 per share in the prior year.

Non-GAAP adjusted income per share was $3.83, up from $1.12 in the third quarter of 2019.

Third quarter 2020 total revenue was $193.9 million, up 42% compared to the third quarter of 2019. Third quarter 2020 Mailing and Shipping revenue was $193.9 million, up 46% compared to the third quarter of 2019.

Analysts polled by Thomson Reuters expected the company to report earnings of $1.53 per share and revenues of $166.77 million for the third-quarter. Analysts' estimates typically exclude special items.

For fiscal year 2020, the company expects non-GAAP adjusted income per share to be in a range of about $10.35 to $11.35 compared to the previous guidance of $6.25 to $9.25.

The company projects annual GAAP net income to be in a range of about $140 million to $157 million, compared to previous guidance of $79 million to $122 million.

The company expects GAAP net income per share to be in a range of approximately $7.30 to $8.27 compared to previous guidance of $3.93 to $6.70.

The company currently expects total revenue for 2020 to be in a range of about $705 million to $735 million, compared to previous guidance of $650 million to $725 million.

Wall Street currently is looking for fiscal year 2020 earnings of $8.10 per share on annual revenues of $718.25 million.