TRNS - Why Transcat Stock Is Up Big Today
2024-05-21 12:00:21 ET
Testing and calibration equipment company Transcat (NASDAQ: TRNS) easily beat quarterly expectations and forecast continued strength into its new fiscal year. Investors are taking notice, sending Transcat shares up as much as 13% at the open and up 8% as of 10:45 a.m. ET.
Transcat provides calibration and testing services primarily to the life sciences industry, as well as to the aerospace, defense, energy, and utilities sector. The company earned $0.66 per share in its fiscal fourth quarter ending March 30 on revenue of $70.9 million, surpassing Wall Street's $0.53 per share on sales of $68 million estimate.
Consolidated adjusted earnings before interest, taxes, depreciation, and amortization ( EBITDA ) grew by 29.8% in the quarter, and EBITDA margin expanded by 200 basis points, fueled by a combination of strong organic growth and the benefit of acquisitions.
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Why Transcat Stock Is Up Big Today