Pushpay (ASX:PPH) upgrades guidance after strong December

• Donation management provider Pushpay (PPH) has increased guidance for the full year after its December 2020 performance exceeded expectations.
• The company now expects earnings to fall between US$56 million (approximately A$72.7 million) and US$60 million (roughly A$78 million)
• Originally, it forecast earnings would land between US$54 million (roughly A$70.1 million) and US$58 million (around A$75.3 million)
• PPH also announced its further investment into the development of a customer proposition for the U.S. catholic sector
• In other news, PPH has appointed Molly Matthews as its new Chief Executive Officer
• Matthews will succeed interim CEO Bruce Gordon, who has been in the role since June 2019
• Pushpay shares are up 4.68 per cent to $1.57

Donation management provider Pushpay (PPH) has increased guidance for the full year after its December 2020 performance exceeded expectations.

At the company’s interim results announcement on November 4 last year, Pushpay estimated its earnings before interest, tax, deprecitaion, amortisation and fair adjustments (EBITDAF) for the year ending March 31 to land between US$54 million (roughly A$70.1 million) and US$58 million (around A$75.3 million)

PPH now expects EBITDAF for the year to fall between US$56 million (approximately A$72.7 million) and US$60 million (roughly A$78 million). One caveat on the brighter outlook, however, is the uncertainty surrounding COVID-19 and the broader U.S. economy.

The company also advised it’s investing in the development of a customer proposition for the Catholic segment of the U.S. religious sector.

The new boss

In other news, PPH has appointed Molly Matthews as its new Chief Executive Officer.

Matthews is currently Pushpay’s Chief Customer Officer and will assume the Chief Executive duties from March 1. She will succeed interim CEO Bruce Gordon, who has been in the role since June 2019.

Matthews has held senior roles within Pushpay since joining the company over four years ago.

Pushpay Chairman Graham Shaw said, “Molly has a deep understanding of the U.S. faith and non-profit marketplaces and exceptional customer knowledge which is critical to Pushpay’s success.”

“As Pushpay continues with growth, Molly’s comprehensive strategic skillset and significant customer-facing experience position the company well for ongoing success.”

Pushpay shares are up 4.68 per cent to $1.57 at 10:33 am AEDT.