Q: Can you please lok at the 2nd q results and tell me what you think?
5i Research Answer:
EPS of $0.61 beat estimates of $0.2267 and revenues of $466.46M beat estimates of $432.05M. It reported record Adjusted EBITDA of $87.8M and an 18.8% Adjusted EBITDA margin. The company reduced its net leverage to 1.0X and net income from operations grew by $57.3M. Despite challenges from the Alberta wildfires, its Adjusted EBITDA doubled and net income improved. Management expects improved free cash flow in 2023 and it is planning on deploying 50 additional upgraded Tier IV DG units by Q1 2024. These were solid results and the market seems pleased with its ability to overcome challenges in the quarter.