Q: Hi team,
What’s your take on Lmn’s quarterly results tonight ?
Thanks,
Shane
What’s your take on Lmn’s quarterly results tonight ?
Thanks,
Shane
5i Research Answer:
Q1 sales rose 27% to $178.7M, ahead of estimates of $175M. Organic growth was -4%. Operating income rose 34% to $44.5M. Net income $20.8M vs a loss of $304.3M last year due to the conversion of preferred shares. Cash flow increased 15% to $40.1M. Free cash flow increased 22%. EBITDA of $87.8M beat estimates by 45%. Note the company does not release adjusted earnings but GAAP earnings per share of 8c beat estimates of 5 cents. Results look fine overall. We are still looking for better organic growth but we think this will come with time. Cash is $252M. Acquisitions were not discussed.