Q: Your thoughts please on the quarter?
Thx
Thx
5i Research Answer:
EPS was $0.17 and revenues of $220.23M missed expectations of $222.13M. Sales grew 5.2% mostly due to a positive forex impact of 3.3%, and organic growth of 0.8%. Gross profit grew 10.4%, with margins increasing 180 basis points. Operating profit margins grew to 9.6% from 8.5%, and overall this was a very operationally efficient quarter. Management guided FY2025 sales to be about $925M with an adjusted EBITDA margin between 17% and 20%. Today, the company also announced the acquisition of Western Elevator, which generated about $7.5M in sales for 2024. We view these as good results, and the market is reacting well to the acquisition news.