Transcat Q3 service revenue up 19%, adjusted EBITDA +20.5% to $6.6M

TRANSCAT INC

2023-Q3 EPS reported $0.92 revenue$168,502,000

Service revenue $35.98M (+19% YoY), organic growth 12%; distribution revenue $21.43M (+3.7%).
Consolidated gross margin 28.6%, up 180 bps; adjusted EBITDA margin 11.5%, up 80 bps.
Diluted EPS $0.21; adjusted diluted EPS $0.35 vs $0.36 prior year.
Distribution gross margin 26.2% (+370 bps) driven by rental demand; backlog $9.5M (+7%).
Acquired e2b Calibration in Cleveland during Q3; NEXA asset management driving double-digit organic growth.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TRANSCAT INC reported the fiscal year 2023 third quarter ended December 24, 2022 results: revenue $ 57,402, net income $ 1,601, EPS $ 0.21.

Period: the fiscal year 2023 third quarter ended December 24, 2022
Revenue: $ 57,402
Net income: $ 1,601
EPS: $ 0.21
Result: reported results

Exact text from the filing

Third Quarter Fiscal 2023 Review (Results are compared with the third quarter of the fiscal year ended March 26, 2022 ( “ fiscal 2022 ” )) ($ in thousands) Change FY23 Q3 FY22 Q3 $'s % Service Revenue $ 35,977 $ 30,237 $ 5,740 19.0 % Distribution Sales 21,425 20,665 760 3.7 % Revenue $ 57,402 $ 50,902 $ 6,500 12.8 % Gross Profit $ 16,400 $ 13,636 $ 2,764 20.3 % Gross Margin 28.6 % 26.8 % Operating Income $ 3,163 $ 2,361 $ 802 34.0 % Operating Margin 5.5 % 4.6 % Net Income $ 1,601 $ 1,629 $ (28 ) (1.7 )% Net Margin 2.8 % 3.2 % Adjusted EBITDA* $ 6,585 $ 5,466 $ 1,119 20.5 % Adjusted EBITDA* Margin 11.5 % 10.7 % Diluted EPS $ 0.21 $ 0.21 $ - 0.0 %

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Source: SEC EDGAR

accession 0001437749-23-002085

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