(XELA) – Exela Stock falls on second quarter sales; Reiterates FY21 guidelines

0
  • Exela Technologies Inc (NASDAQ: XELA) reported a preliminary decline in FY21 second quarter revenue of 4.8% year-over-year to $ 293 million, missing the analyst consensus of $ 314.1 million.
  • Segments: Information and Transaction Processing Solutions segment revenue decreased 10.6% year-on-year to $ 217.3 million due to lower volumes due to COVID-19 and reduction transition income.
  • Healthcare Solutions revenue increased 14.3% year-on-year to $ 56.2 million due to higher volumes due to new specifications, new customers and backlog of customers. existing customers.
  • Legal and loss prevention services revenue increased 25.9% year-on-year to $ 19.5 million.
  • Margins: Gross margin increased 720 basis points to 28.6%.
  • Adjusted EBITDA margin increased 336 basis points to 17.4%.
  • The loss per share fell to ($ 0.33) from ($ 1.01) last year.
  • Exela held $ 47.9 million in cash and cash equivalents. It used $ 46 million of operating cash flow during the six-month period ended June 30.
  • Outlook: Exela reiterated the outlook for FY21 revenue of $ 1.25 billion – $ 1.39 billion against analysts’ consensus of $ 1.33 billion.
  • The company sees a gross profit margin of 23% to 25%. He sees an adjusted EBITDA margin of 16% to 17%.
  • Price action: XELA shares traded down 6.23% to $ 2.865 on the last check on Tuesday.
Share.

Leave A Reply