Fire Safety firm Perimeter's Q2 sales rise 28%, beat estimates
Overview
Perimeter Q2 net sales rise 28% yr/yr, beating analyst expectations
Adjusted EBITDA for Q2 beats consensus, rising 41% yr/yr
Co reports Q2 net loss of $32.2 mln, adjusted EPS at $0.39
Result Drivers
FIRE SAFETY SALES - Fire Safety segment net sales rose 22% to $120.3 mln, driven by normalized fire activity
SPECIALTY PRODUCTS SALES - Specialty Products segment net sales increased 47% to $42.4 mln, reflecting strong demand
VALUE DRIVER EXECUTION - Continued execution of value drivers contributed to adjusted EBITDA growth of 41%
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Sales | Beat | $162.60 mln | $139.70 mln (1 Analyst) |
Q2 EPS |
| -$0.22 |
|
Q2 Net Income |
| -$32.20 mln |
|
Q2 Adjusted EBITDA | Beat | $91.30 mln | $64.10 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 $18.50, about 14.5% above its August 6 closing price of $15.82
The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 10 three months ago
Press Release: ID:nGNXB44S
