Overview
Perimeter Q3 net sales grew 9% yr/yr, beating analyst expectations
Adjusted EBITDA for Q3 increased 9%, surpassing analyst estimates
Company acquired IMS add-on product lines for $12 mln on Sept 12
Outlook
Company did not provide specific guidance for future quarters or full year
Result Drivers
FIRE SAFETY GROWTH - Fire Safety net sales increased 9%, contributing to overall revenue growth
SPECIALTY PRODUCTS GROWTH - Specialty Products net sales rose 15%, aiding in revenue increase
IMS ACQUISITION - Acquisition of IMS add-on product lines for $12 mln to bolster Specialty Products
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Sales | Beat | $315.40 mln | $238.27 mln (1 Analyst) |
Q3 EPS | -$0.62 | ||
Q3 Net Income | -$90.70 mln | ||
Q3 Adjusted EBITDA | Beat | $186.30 mln | $138.55 mln (1 Analyst) |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the specialty chemicals peer group is "buy"
Wall Street's median 12-month price target for Perimeter Solutions Inc is $26.00, about 17.9% above its October 29 closing price of $21.34
The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 13 three months ago
Press Release: ID:nGNX1x9hjN
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
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