CoreLogic, Inc. (NYSE:CLGX) Q4 2019 Earnings Conference Call - Final Transcript
Feb 26, 2020 • 06:00 pm ET
Good day, and welcome to the CoreLogic Fourth Quarter 2019 Earnings Conference Call.
I would now like to turn the conference over to Dan Smith. Please go ahead sir.
Dan L. Smith
Thank you, and good afternoon. Welcome to our investor presentation and conference call where we present our financial results for the fourth quarter 2019. Speaking today will be CoreLogic's President and CEO, Frank Martell; and CFO, Jim Balas.
Before we begin, let me make a few important points. First, we've posted our slide presentation, which includes additional details on our financial results on our website. Second, please note that during today's presentation, we may make forward-looking statements within the meaning of the federal securities laws, including statements concerning our expected business and operational plans, performance, outlook and acquisition and growth strategies and our expectations regarding industry conditions. All of these statements are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements.
For further details concerning these risks and uncertainties, please refer to our SEC filings, including the most recent Annual Report on Form 10-K and the subsequent 10-Qs. Our forward-looking statements are based on information currently available to us and we do not intend and undertake no duty to update these statements for any reason.
Additionally, today's presentation contains financial measures that are non-GAAP financial measures. A reconciliation of these non-GAAP measures to their GAAP equivalents is included in the appendix to today's presentation. Unless specifically identified, comparisons of fourth quarter financial results to prior periods should be understood on a year-over-year basis that is in reference to the fourth quarter of 2018.
Finally, please limit yourselves to one question with a brief follow-up. We will take additional questions at the end of the call as time permits.
Thanks. And now let me introduce our President and CEO, Frank Martell.
Thank you, Dan. And good afternoon, everyone. Welcome to Corelogic's fourth quarter and full year 2019 earnings call.
My prepared remarks today will cover significant 2019 operating highlights, as well as key areas of focus for 2020. Jim will follow and summarize our fourth quarter and full year 2019 financial results and provide commentary on our first quarter and full year 2020 financial guidance. We'll then finish up the call with a Q&A session.
CoreLogic topped off a very strong 2019 with an outstanding operating and financial performance in Q4. Revenues normalizing for the AMC transformation and the wind down of noncore technology units were up almost 12% in the quarter, driven primarily by core -- by growth in core mortgage, platform-related and other high-margin businesses, as well as higher origination unit volumes in the US market.
Organic growth trends accelerated during the quarter boosted by market share and pricing gains. One example of accelerated momentum on the organic growth front relates to our new collateral valuation services model. As you know, we successfully completed our AMC transformation last December. Our new service model has attracted significant market