Novanta Expects Q3 GAAP Revenue Of Approximately $241M - $244M (Est $251.15M), Adjusted EPS Of $0.85 - $0.89 (Est $0.86)
Portfolio Pulse from Benzinga Newsdesk
Novanta Inc. has provided its Q3 guidance, expecting GAAP revenue between $241M and $244M, which is below the estimated $251.15M. The company also expects adjusted EPS to be in the range of $0.85 to $0.89, aligning with the estimated $0.86. Adjusted gross profit margin is anticipated to be between 47.0% and 47.5%, and adjusted EBITDA is expected to be between $56M and $58M.
August 06, 2024 | 11:06 am
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Novanta Inc. has provided Q3 guidance with GAAP revenue expected to be below estimates, while adjusted EPS aligns with expectations. Adjusted gross profit margin and EBITDA are also provided.
The guidance for GAAP revenue is below market expectations, which could negatively impact the stock price in the short term. However, the adjusted EPS aligns with estimates, which may mitigate some of the negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100