Novanta Q1 2021 Earnings Report
Key Takeaways
Novanta's First Quarter 2021 results showed strong performance with sales, bookings, profit, and cash flow exceeding expectations. GAAP revenue was $162.6 million, and adjusted EPS was $0.58. The company saw accelerated demand, particularly in the advanced industrial sector, and launched five new products during the quarter.
GAAP revenue for the first quarter of 2021 was $163 million.
GAAP consolidated net income for the first quarter of 2021 was $11 million.
GAAP diluted earnings per share for the first quarter of 2021 was $0.32.
Adjusted earnings per share for the first quarter of 2021 was $0.58.
Novanta
Novanta
Novanta Revenue by Segment
Forward Guidance
For the second quarter of 2021, the Company expects GAAP revenue of approximately $162 million to $165 million. The Company expects Adjusted EBITDA to be in the range of $32 million to $34 million, and Adjusted Diluted EPS to be in the range of $0.49 to $0.53. For the full year 2021, the Company expects GAAP revenue of approximately $645 million to $655 million. The Company expects Adjusted EBITDA to be in the range of $127 million to $134 million, and Adjusted Diluted EPS to be in the range of $2.04 to $2.19.
Positive Outlook
- Expects continued growth in the Second Quarter
- Expects continued growth for the Full Year
- Strong broad based demand signals from customers
- Design win activities are expected to remain robust
- Customer order activities are expected to remain robust
Challenges Ahead
- Seeing an uptick in pandemic related disruptions
- Seeing electronic material shortages impacting supply chain
- Electronic material shortages impacting customers
- Expects disruptions to continue over the course of 2021
- Impacted supply chain
Revenue & Expenses
Visualization of income flow from segment revenue to net income