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Ebix schedules 1Q19 report ?2

09:28 02-May-19


Ebix has scheduled its first quarter report for the morning of May 9th.  Four analysts cover the company and the average of their estimates comes to 93 cents of EPS on $137M of revenue with the current quarter growing to $149M.  The company also reports traction with its recent promotion in financial services, by adding 10 new institutional clients over the past 90 days, including Standard Chartered Bank (India), BOC (Philippines), Sampat Bank (Sri Lanka), Prime Bank (Kenya), Emirates NBD (UAE), GIC HF (India), Kotak Bank (India), Mcredit (Vietnam).  It also boasts all of the top three leading Banks in the Middle East/GCC countries as its clients and affirms prior projections for $100M of annualized revenue by year end.

India and Ebix are far from perfect in my eyes, but the rupee has been rebounding as of late to $0.01441 and there is a lot to worry about for both currencies.  Some of the Indian worries are actually tailwinds for the ForEx and payments businesses, and cases are proceeding.  Cooperation with the World Bank's International Finance Corporation should help over the next two years.  I see an Ebix position as the classic strategy of owning short-term worries while selling long-term ones.  The numbers in this report will matter, but the election results at the end of the month may matter just as much.