RE:Lots of panic here...In the 2H of 2018, adjusted EBITDA was $12 million.
I think it's fair to assume that revenue will be flat in the 2H, given the $6 milion catch up.
Half the $10 million cost reductions could add $5 million to adjusted EBITDA in the 2H of 2019. Remember, procurement and ERP cost reductions amount to $6 million (incremental to $10 million). And input costs are declining, which will also help the 2H of 2019.
Altogether, it's not inconcievable to see the 2H adjusted EBITDA at $15 million and $22 million for the whole year. Maybe $25 million next year. I was expecting this quarter to be tough...but this is the low point....