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Jun 30, 2023
Perimeter Solutions Q2 2023 Earnings Report
Reported a decrease in net sales and adjusted EBITDA, while net income increased compared to the prior-year quarter.
Key Takeaways
Perimeter Solutions reported a decrease in net sales by 25% to $76.1 million and a 41% decrease in Adjusted EBITDA to $21.0 million. However, net income increased by $43.1 million to $52.0 million, or $0.31 per diluted share.
Net sales decreased 25% to $76.1 million.
Fire Safety sales decreased 20% to $53.1 million.
Specialty Products sales decreased 33% to $23.0 million.
Net income increased to $52.0 million, or $0.31 per diluted share.
Revenue by Segment
Forward Guidance
Our key end-markets, in both our Fire Safety and Specialty Products businesses, were slow in the second quarter. Both our businesses significantly outperformed their end-markets, however, due primarily to successful implementation of our value-driver initiatives. We’re particularly pleased with the continued strong results in our global suppressants businesses, as well as in our international retardant markets.
Positive Outlook
- Successful implementation of value-driver initiatives.
- Strong results in global suppressants businesses.
- Strong performance in international retardant markets.
Challenges Ahead
- Key end-markets were slow in the second quarter in Fire Safety business.
- Key end-markets were slow in the second quarter in Specialty Products business.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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