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Sep 23, 2023
Transcat Q2 2024 Earnings Report
Transcat reported strong second quarter results driven by double-digit organic service growth and expanding gross margins.
Key Takeaways
Transcat reported an 11.3% increase in consolidated revenue, driven by a 17.5% increase in service revenue and a 10.0% increase in service organic revenue. Gross margin expanded by 230 basis points, and adjusted EBITDA grew by 23.9% with a 160 basis point margin expansion.
Consolidated revenue increased by 11.3% with gross margin expansion of 230 basis points.
Service revenue grew by 17.5%, with organic revenue growth of 10.0%.
Adjusted EBITDA grew by 23.9%, and adjusted EBITDA margin expanded by 160 basis points.
The company completed two acquisitions: SteriQual and Axiom Test Equipment.
Revenue by Segment
Forward Guidance
Transcat anticipates high-single digit to low double-digit organic Service revenue growth and gross margin expansion for fiscal year 2024.
Positive Outlook
- Expects organic Service revenue growth in the high-single digit to low double-digit range.
- Anticipates gross margin expansion for the fiscal 2024 year.
- Believes its value proposition drives a sustainable competitive advantage.
- Expects its acquisition strategy to drive synergistic growth opportunities.
- Aims to expand its addressable calibration market through acquisitions and capability investments.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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