Post by
Possibleidiot01 on Apr 12, 2023 7:29pm
Q1 thoughts
Impressed by the 20% revenue growth and 28% backlog growth.
Especially since the two recent acquisitions have not closed yet.
Adjusted earnings are much better at 4 cents a share gain versus a 4 cent loss. Unadjusted earnings are misleading due to government support IMO.
Earnings before interest, tax, depreciation and amortization (EBITDA) for FTG in Q1 2023 was $6.3M or 25.6% of sales compared to $1.3M or 6.5% of sales in Q1 2022.
Adjusted EBITDA for Q1 2023, which excludes the ERC government assistance and expenses related to the two pending acquisitions, was $3.2M or 13.0% of net sales, as compared to $1.1M or 5.2% of net sales in Q1 2022.
Good but could get better.