KNRLF - Kontrol Technologies stock edges down on expecting to miss FY2022 outlook

• Kontrol Technologies ( OTCQB:KNRLF ) stock slips around 45% after reporting Q3 earnings .
• The company saw 7.5% decline in revenue and reported net loss of $5.2M.
• Adjusted EBITDA loss was $4M for the quarter.
• “This was a very challenging quarter, and we were impacted by a number of economic factors simultaneously, including tight labor markets, supply chain issues, lack of required materials and ongoing material shortages,” says Paul Ghezzi, CEO of Kontrol Technologies. “While our commercial and industrial service and solutions business performed in line with expectations, our operating subsidiary Global HVAC and Automation was most severely impacted. Adding to the overall market conditions the rapid rise in interest has created volatility for new construction opportunities in the multi-residential sector.”
• The company says that guidance provided on November 2021 for FY2022 of Revenue between C$95M to $105M and an EBITDA between $10M to $12M will not be met.

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