Novanta Q2 2024 Earnings Report
Key Takeaways
Novanta's Q2 2024 results showed a revenue of $236 million, an adjusted gross profit margin of 47%, adjusted EBITDA of $51 million, and operating cash flow of $41 million. While industrial capital spending markets remain weak, new products have seen increased adoption and medical device end-markets remain strong.
GAAP Revenue was $236 million.
GAAP Net Income reached $13.8 million.
Adjusted Earnings Per Share was $0.73.
Adjusted EBITDA totaled $51 million.
Novanta
Novanta
Forward Guidance
For the third quarter of 2024, Novanta expects GAAP revenue of approximately $241 million to $244 million. The Company expects Adjusted Gross Profit Margin to be approximately 47.0% to 47.5%. The Company expects Adjusted EBITDA to be in the range of $56 million to $58 million and Adjusted Diluted EPS to be in the range of $0.85 to $0.89. The Company’s guidance assumes no significant changes in foreign exchange rates.
Positive Outlook
- GAAP revenue of approximately $241 million to $244 million
- Adjusted Gross Profit Margin to be approximately 47.0% to 47.5%
- Adjusted EBITDA to be in the range of $56 million to $58 million
- Adjusted Diluted EPS to be in the range of $0.85 to $0.89