Novanta Q1 2024 Earnings Report
Key Takeaways
Novanta's first quarter 2024 results showed revenue of $231 million, adjusted gross margin of 46.3%, adjusted EBITDA of $50 million, and a significant increase in operating cash flow year-over-year. The company is pleased with the integration of the Motion Solutions acquisition.
GAAP Revenue was $231 million.
GAAP Net Income was $15 million.
GAAP Diluted Earnings Per Share was $0.41.
Adjusted Earnings Per Share was $0.74.
Novanta
Novanta
Forward Guidance
For the second quarter of 2024, the Company expects GAAP revenue of approximately $230 million to $235 million. The Company expects Adjusted Gross Profit Margin to be approximately 46.0% to 46.3%. The Company expects Adjusted EBITDA to be in the range of $48 million to $50 million and Adjusted Diluted EPS to be in the range of $0.68 to $0.74.