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Dec 31, 2023
First Advantage Q4 2023 Earnings Report
First Advantage's Q4 2023 earnings were reported, revealing a mix of financial results and a strategic acquisition announcement.
Key Takeaways
First Advantage reported Q4 2023 revenues of $202.6 million and net income of $14.8 million. The company also announced a definitive agreement to acquire Sterling Check Corp. in a transaction valued at approximately $2.2 billion.
Revenues for Q4 2023 reached $202.6 million.
Net income for Q4 2023 was reported at $14.8 million.
Adjusted EBITDA for Q4 2023 stood at $68.2 million.
The company announced an agreement to acquire Sterling Check Corp.
Forward Guidance
First Advantage introduced full-year 2024 guidance ranges, excluding contributions from the pending Sterling Check acquisition.
Positive Outlook
- Revenues: $750 million – $800 million
- Adjusted EBITDA: $228 million – $248 million
- Adjusted Net Income: $127 million – $142 million
- Adjusted Diluted Earnings Per Share: $0.88 – $0.98
- Guidance reflects the current hiring environment and expectations that existing macroeconomic conditions and similar labor market trends will continue throughout 2024.
Challenges Ahead
- Guidance excludes contributions from the pending Sterling Check acquisition.
- A reconciliation of the foregoing guidance for the non-GAAP metrics of Adjusted EBITDA and Adjusted Net Income to GAAP net income and Adjusted Diluted Earnings Per Share to GAAP diluted net income per share cannot be provided without unreasonable effort.
- The occurrence and financial impact of the various adjusting items necessary for such reconciliation that have not yet occurred, are out of our control, or cannot be reasonably predicted.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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