Blackbaud (BLKB) Reports Q1 Earnings: What Key Metrics Have to Say

Zacks Equity Research
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For the quarter ended March 2024, Blackbaud (BLKB) reported revenue of $279.25 million, up 6.7% over the same period last year. EPS came in at $0.93, compared to $0.72 in the year-ago quarter.

The reported revenue represents a surprise of -1.05% over the Zacks Consensus Estimate of $282.22 million. With the consensus EPS estimate being $0.85, the EPS surprise was +9.41%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Blackbaud performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Revenue- Recurring: $271.52 million versus $274.89 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +7.4% change.

  • Revenue- One-time services and other: $7.73 million versus $7.33 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -14.1% change.

  • Recurring Revenue- Contractual recurring: $190.86 million versus the two-analyst average estimate of $192.35 million. The reported number represents a year-over-year change of +7.5%.

  • Recurring Revenue- Transactional recurring: $80.66 million versus the two-analyst average estimate of $82.49 million. The reported number represents a year-over-year change of +7.3%.

View all Key Company Metrics for Blackbaud here>>>

Shares of Blackbaud have returned +8.6% over the past month versus the Zacks S&P 500 composite's -4.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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