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CCC Intelligent Solutions Q3 revenue rises 10%, beats estimates

By Reuters News


Overview

  • SaaS and AI platform's Q3 revenue rose 10% yr/yr, beating analyst expectations

  • Adjusted net income for Q3 increased yr/yr

  • Company to be acquired by GTCR and Elliott in $6.1 bln deal, closing expected Q1 2027


Outlook

  • Company is suspending its practice of providing guidance due to the pending acquisition

  • CCC will not host a conference call or webcast to discuss results amid acquisition process

  • Company says proposed acquisition by GTCR and Elliott expected to close in Q1 2027


Result Drivers

  • AI ADOPTION - Co said insurers expanded use of AI across core claims workflows, driving 40% yr/yr growth in AI-related revenue

  • NEW PRODUCT DEPLOYMENT - Co said a leading insurer adopted Medhub for Auto Casualty, marking largest application of EvolutionIQ’s tech in P&C auto market

  • PLATFORM EFFICIENCY - CEO said increased platform adoption helped customers operate more efficiently across insurance economy


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Beat

$294.10 mln

$290.49 mln (9 Analysts)


Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 6 "hold" and 2 "sell" or "strong sell"

  • The average consensus recommendation for the software peer group is "buy."

  • Wall Street's median 12-month price target for CCC Intelligent Solutions Holdings Inc. is $7.75, about 1% above its October 28 closing price of $7.67

  • The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 11 three months ago


Reuters Recommended Reads

  • Oct 28 - Cybersecurity firm Fortinet's Q3 revenue rises 20%, adj EPS beats estimates

  • Oct 28 - Cybersecurity firm Gen Digital's Q2 revenue beats on strong demand; raises FY outlook

  • Oct 27 - Manhattan Associates Q3 revenue beats estimates on cloud subscription growth


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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