CA - Superior Plus GAAP EPS of C$0.27 revenue of C$1.07B; initiates FY23 guidance
- Superior Plus press release ( OTCPK:SUUIF ): Q4 GAAP EPS of C$0.27.
- Revenue of C$1.07B (+29.7% Y/Y).
- Q4 Adjusted EBITDA of C$182.6M, a 28% increase from the prior year.
- Outlook: Superior is introducing its 2023 Pro Forma Adjusted EBITDA guidance range of C$585 million to C$635 million with a midpoint of C$610 million, which includes the expected full twelve months of Certarus 2023 Adjusted EBITDA in the range of C$140 million to C$150 million. The economic benefit of Certarus’ expected 2023 Adjusted EBITDA will be retained in the business.
- Corporate costs in the range of C$20 million to C$25 million consistent with historical results primarily due to lower insurance costs and professional fees, partially offset by the impact of inflation and higher travel costs.
- Long-term incentive plan costs in the range of C$5 million to C$10 million.
- Superior is maintaining its targeted Leverage Ratio at 3.5x to 4.0x while it continues to focus on integrating acquisitions and executing on the Superior Way Forward initiatives, including achievement of the anticipated organic growth in the Certarus business. Superior expects to be in the target range of 3.5x to 4.0x at the close of the acquisition of Certarus.
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Superior Plus GAAP EPS of C$0.27, revenue of C$1.07B; initiates FY23 guidance