Andersen Group Posts Record Q2 Revenue of $217.7M, Up 23.7%
ANDG has more than doubled off its 52-week low of $18.12.
Summary
Andersen Group delivered record Q2 revenue of $217.7M, up 23.7% year-over-year, beating estimates on client additions and higher volumes. Adjusted net income jumped 38.8% to $39.0M. The company reaffirmed full-year guidance of $980M-$1B revenue and $225M-$250M adjusted EBITDA. Reported net loss of $10.1M stems from non-cash equity compensation of $48.3M, down sharply from $129.6M a year ago. This follows the 8-K filed earlier today and recent acquisition announcements, including six acquisitions expected to add $34.5M in revenue.
Updates
· SEC 10-Q — The 10-Q discloses a new $50M asset-based revolving credit facility maturing June 2029, with interest at SOFR plus 1.75%, and a $5M letter of credit sublimit. It also reports $12.2M in acquisitions during the quarter, including $6.4M deferred consideration.
At the time of this announcement, ANDG was trading at $48.00 on NYSE in the Trade & Services sector, with a market capitalization of approximately $5.6B. The 52-week trading range was $18.12 to $50.76. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: BusinessWire.