Novanta sees FY23 adjusted EPS $2.96-$3.15, consensus $3.14

Sees FY23 revenue $892M-$902M, consensus $907.77M. Sees FY23 Adjusted Gross Profit Margin 46.5%-47.0%; Adjusted EBITDA $196M-$204M. “While macroeconomic conditions, particularly with regard to industrial capital spending and China, are expected to intensify in the second half, Novanta’s diversified portfolio, especially its medical end-market exposure, is expected to continue to remain strong, acting as a counterbalance to the environment,” said CEO Matthijs Glastra. “Regardless of the macroeconomic climate, we continue to focus on secular growth opportunities in the right applications, coupled with the Novanta Growth System to deliver consistent, predictable, and sustainable long-term growth.”