Preliminary Q3 Revenue Tops $461.5M, Beating Outlook by 4.9%
ITG sits 17% above its 52-week low of $4.595.
Summary
ITG pre-announced preliminary Q3 revenue of about $461.5 million, up roughly 49% year-over-year and ahead of its own $440.0 million outlook by $21.5 million. Preliminary Adjusted EBITDA came in at about $64.5 million, up roughly 64% year-over-year and above the $63.0 million outlook. The company said it released the numbers early to give investors timely visibility into the quarter. This follows the Q2 report on August 12, when revenue rose 38% to $404.6 million but net income fell 85% to $1.8 million on higher interest costs — the top-line acceleration to 49% growth suggests the trend is strengthening. The figures are preliminary and not yet reviewed by the company's auditors, so they are subject to change. Full Q3 results and the 10-Q land November 10, with the conference call November 11 at 8:00 a.m. ET.
At the time of this announcement, ITG was trading at $5.37 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $612.1M. The 52-week trading range was $4.60 to $19.26. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.