Bluegreen Vacations Corporation Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2017; Expects Effective Tax Rate Guidance for the Fiscal 2018
For the year, the company reported total revenues of $668,058,000 against $662,653,000 a year ago. Income before non-controlling interest and provision for income taxes was $135,336,000 against $124,948,000 a year ago. Net income attributable to company corporation shareholders was $125,526,000 or $1.76 per basic and diluted share against $74,951,000 or $1.06 per basic and diluted share a year ago. Net cash provided by operating activities was $65,970,000 against $101,868,000 a year ago. Purchases of property and equipment were $14,115,000 against $9,605,000 a year ago. Total adjusted EBITDA was $148,594,000 against $137,880,000 a year ago. Free cash flow was $51.9 million against $92.3 million a year ago. EBITDA was $150,440,000 against $139,008,000 a year ago.
The company provisionally estimates that its effective combined Federal and state income tax rate will decrease from its typical historical rate of 39% to a range of 26% to 28% in 2018.