1/18/2024 0 Comments Ag growth international revenue“Our sustained focus on balance sheet priorities continued to deliver solid progress in the quarter,” added Jim Rudyk, CFO of AGI. Heading into the fourth quarter and early 2024, we are committed to complementing our new margin levels with continued revenue growth which will unlock significant value for all stakeholders.” As a result, we have again raised our full year Adjusted EBITDA margin guidance to 18.5% from 18.0%, up notably from our originally stated 2023 objective of 17.0%. As our new business management processes become further ingrained in our teams and culture, we expect this new level of margin performance to be sustained and expanded upon over the long-term. “Our company-wide operational excellence initiatives gained additional traction and have steadily translated into a clear positive trend in our margin performance. “Our third quarter performance again delivered strong margins and continued progress against our stated strategic priorities,” noted Paul Householder, President & CEO of AGI. Order book 4 continues to be strong and is up 3% YOY as of September 30, 2023.Full year 2023 Adjusted EBITDA margin % 2 guidance is increased to be at least 18.5%, up from 18.0% prior.Management is reiterating full year 2023 Adjusted EBITDA guidance to be at least $290 million 1.Adjusted EBITDA margin % 3 increased by roughly 230 basis points to 19.2% from 16.9% on a YOY basis. Adjusted EBITDA 2 of $221 million increased by 20% on a YOY basis.Revenue 1 of $1,147 million increased by 6% on a YOY basis.Net debt leverage ratio 3 of 3.2x at Septemvs 4.1x at Septemor 3.3x at June 30, 2023.Adjusted EBITDA margin % 3 increased by roughly 165 basis points to 20.6% from 19.0% on a YOY basis.Adjusted EBITDA 2 of $85 million increased by 11% on a YOY basis.Revenue 1 of $410 million increased by 2% on a year-over-year (‘YOY’) basis 5% sequentially from Q2 2023.(TSX: AFN) (“AGI”, the “Company”, “we” or “our”) today announced its financial results for the three-months ended September 30, 2023.
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