- Meredith (MDP) has boosted its EPS outlook for fiscal Q3 and for the year, pointing to outperformance in its digital activities.
- In Q3, it's bumped its range for EPS to $0.85-$0.87 from previous expectations for $0.75-$0.80, with stronger than expected ad performance (particularly in national and local digital). The new estimate is well above consensus expectations for $0.78.
- For the full year, it's boosting expectations to a record $4.13-$4.18 (GAAP basis) and $3.85-$3.90 (excluding special items), up from previous guidance for $3.50-$3.80.
- Consensus 2017 expectations are for GAAP EPS of $4.05 and non-GAAP EPS of $3.75.
- The company notes it's still pursuing its "Total Shareholder Return" program, with ongoing dividend increases, strategic investments and share buybacks (the company has $75M in authorization currently remaining).
- Shares are flat in after-hours action today.