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Sep 30, 2022
Novanta Q3 2022 Earnings Report
Novanta reported record third-quarter results, with double-digit growth in sales and Adjusted EBITDA, driven by strong customer demand across medical and advanced industrial applications.
Key Takeaways
Novanta Inc. reported a strong third quarter in 2022, with a 26% increase in GAAP revenue to $223 million and a GAAP consolidated net income of $22 million. The company's Adjusted EBITDA reached $49 million, and Adjusted Earnings Per Share increased to $0.81. Despite inflationary pressures, Novanta's teams delivered excellent financial performance, with customer demand remaining strong and backlog at near-record levels.
GAAP Revenue increased 26% to $223 million.
GAAP Consolidated Net Income was $22 million.
GAAP Diluted Earnings Per Share increased 66% to $0.63.
Adjusted Earnings Per Share increased 8% to $0.81.
Forward Guidance
For the fourth quarter of 2022, the Company expects GAAP revenue of approximately $215 million to $217 million, demonstrating reported growth of 8% to 9%. The Company expects Adjusted EBITDA to be in the range of $45.0 million to $46.0 million and Adjusted Diluted EPS to be in the range of $0.70 to $0.74. For the full year 2022, the Company expects GAAP revenue of approximately $857 million to $859 million, demonstrating reported growth of 21% to 22%. The Company expects Adjusted EBITDA to be in the range of $183 million to $184 million and Adjusted Diluted EPS to be in the range of $3.02 to $3.06.
Positive Outlook
- GAAP revenue of approximately $215 million to $217 million, demonstrating reported growth of 8% to 9%.
- Adjusted EBITDA to be in the range of $45.0 million to $46.0 million
- Adjusted Diluted EPS to be in the range of $0.70 to $0.74.
- GAAP revenue of approximately $857 million to $859 million, demonstrating reported growth of 21% to 22%.
- Adjusted EBITDA to be in the range of $183 million to $184 million
Historical Earnings Impact
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Avg. Return Before/After Earnings
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