RDW - Redwire reports mixed Q4 earnings; initiates FY23 outlook
2023-03-29 07:27:37 ET
- Redwire press release ( NYSE: RDW ): Q4 GAAP EPS of -$0.43 misses by $0.30 .
- Revenue of $53.71M (+30.7% Y/Y) beats by $11.71M .
- Net loss and Pro Forma Adjusted EBITDA (including the incremental Adjusted EBITDA that Space NV would have contributed if the acquisition had occurred on January 1, 2022) for the fourth quarter of 2022 were -$25.9M and -$0.5M, respectively, as compared to net loss and Pro Forma Adjusted EBITDA of -$13.7M and -$0.2M, respectively, for the fourth quarter of 2021.
- Book-to-Bill ratio for the fourth quarter and full year 2022 was 3.74 and 2.04, respectively, as compared to 1.45 and 1.13 for the fourth quarter and full year 2021, respectively.
- Total Backlog (including Space NV) grew 71.2% year-over-year to $465.1 million as of December 31, 2022, as compared to $271.6 million as of December 31, 2021. In 2022, contracts awarded were $327.0 million.
- Outlook: For the full year ended December 31, 2023, Redwire expects revenue to be in a range of $220.0 million to $250.0 million vs. consensus of $247.80M.
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Redwire reports mixed Q4 earnings; initiates FY23 outlook