So they made 398.4 million EBITDA in 2021 ... 2022 is supposed to come in at 431.4 million .... 2023 at 474.5 million this does not include any acquisitions ... and still looks like good growth !! Management still thinks they can get to $700 to $750 million by 2026
more quotes from TD on SPB
" management underscored that the majority of the weakness was timing-related and that it expects a recovery from COVID-19 to start later this year, not to mention a clear path to 2023 growth with the close of Kamps acquisition in Q2/22 and incremental synergies after the hyper-acquisitive 2020/2021 (~18-24 months to fully realize synergies). Additionally, management reiterated that nothing has changed
with respect to the assumptions required to achieve its 2026 target of $700mm-
$750mm of operating EBITDA"