TSX:DHT.UN - Post by User
Comment by
HermannHalleron Aug 04, 2022 8:26am
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Post# 34870506
RE:Q2
RE:Q2Comments from Scotia analyst:
DRI Healthcare Trust DHT.U-T: US$7.00 Target: US$14.00 Rating: Sector Outperform
Q2/22 First Take: Strong Contribution from Zytiga Drives Q2 Beat
OUR TAKE: Positive. Strong contribution from Zytiga drives Q2 beat; Pipeline update to come on tomorrow morning’s call. After the close, DRI reported Q2 results that were broadly ahead of expectations, with cash receipts and Adj. EBITDA of $25.3M and $21.4M, representing a ~10% and 5% beat vs. consensus expectations. While we will provide a full review of results tomorrow; on a first take, the variance seems to have resonated from stronger-than-expected contributions from Zytiga (~$9.0M vs. our $3.8M), with remaining cash receipts slightly lighter than our expectations. Regardless, the print, in our view, represents another positive for shares after recent deployment. The team will host a conference call at 8:30am tomorrow morning (Dial In: 888-664-6392) where we expect to gain an update on the most important NT catalyst for shares, the deployment pipeline.