Novanta reports Q1 adjusted EPS 74c, consensus 58c

Reports Q1 revenue $230.9M, consensus $227.88M. “Novanta achieved great results for the Q1, beating expectations for sales, profit, and cash flow,” said Matthijs Glastra, Chair and CEO of Novanta. “We finished the quarter with $231M in revenue, adjusted gross margin of 46.3%, adjusted EBITDA of $50M, and more than doubling our operating cash flow year over year. In addition, we are pleased with our progress at integrating the recent Motion Solutions acquisition.”