bullish

ADF Group

DRX: Another Quarter, Another Beat; Increasing Target Price

587 Views11 Apr 2024 17:00
Issuer-paid
SUMMARY
  • ADF Group reported Q4 & FY24 financial results this morning that beat our expectations across the board.
  • For Q4, revenue came in at $88.4M (+72% YoY) vs. our estimate of $77.1M and EBITDA came in at $15.5M (+164% YoY) vs. our estimate of $13.6M.
  • FY24 marked another stellar year for ADF as it benefits from infrastructure spending across North America and the automation capex program at its Terrebonne facility.
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  • DRX: Another Quarter, Another Beat; Increasing Target Price
    11 Apr 2024
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