Loading...
•
Jun 30, 2023
Novanta Q2 2023 Earnings Report
Novanta reported strong revenue and profit growth in Q2 2023, driven by robust medical end-markets and resilient industrial sales.
Key Takeaways
Novanta's Q2 2023 results showed a 7% increase in GAAP revenue to $229 million and a GAAP net income of $21 million. The company benefited from strong growth in medical end-markets and resilient industrial sales, with a focus on innovation and customer satisfaction.
GAAP revenue increased by 7% to $229 million.
GAAP net income reached $21 million.
Adjusted earnings per share were $0.80.
Adjusted EBITDA was $52 million.
Revenue by Segment
Forward Guidance
For Q3 2023, Novanta expects GAAP revenue between $221 million and $224 million, Adjusted EBITDA between $48 million and $51 million, and Adjusted Diluted EPS between $0.70 and $0.77. For the full year 2023, the company anticipates GAAP revenue of $892 million to $902 million, Adjusted EBITDA between $196 million and $204 million, and Adjusted Diluted EPS between $2.96 and $3.15.
Positive Outlook
- Diversified portfolio, especially its medical end-market exposure, is expected to continue to remain strong
- Focus on secular growth opportunities
- Application of the Novanta Growth System
- Consistent, predictable, and sustainable long-term growth
- No significant changes in foreign exchange rates expected
Challenges Ahead
- Macroeconomic conditions, particularly with regard to industrial capital spending and China, are expected to intensify in the second half
- Inherent difficulty in forecasting and quantifying certain amounts that are necessary for reconciliations
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...