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As you recall, this is one of our goals as well as executing half of the plan a year from close, meaning over $30 million in run rate by mid 2023
30m by mid 2023
Transcript
2022 Q4
6 Mar 23
While we ordinarily would not comment on analyst estimates, in these circumstances we think it’s fair to say that the full year 2023 consensus EBITDA estimate of nearly $390 million appears reasonable
390m in ebitda is "reasonable"
Transcript
2022 Q4
6 Mar 23
As we look into 2023, let’s take a moment to recap where we stand on synergy delivery. To outline the $25 million of incremental 2023 synergy realization we reference, it is comprised of $15 million from actions taken by the end of 2022 and another $10 million from expected continued synergy execution in 2023. To help reconcile these figures from our $20 million exit run rate for 2022, $5 million of those executed synergies hit the P&L in the second half of 2022. This leaves an incremental $15 million flow through in 2023 just from the actions already taken through this past December. The majority of these synergies were SG&A reductions.
synergy coming
Transcript
2022 Q4
6 Mar 23
We are also seeing reduced demand as customers take down inventory levels, coming out of a period of supply chain uncertainty and availability.
Many customers built much higher than normal levels of safety stock in an effort to assure supply and are willingness to carry excess working capital.
As supply chain constraints ease and concerns about availability lessons, customers are aggressively working to reduce excess inventories.
destocking
Transcript
2022 Q4
6 Mar 23
Looking at other areas of demand trends and indications from customers, filtration was a mixed bag. There is some softness in transportation filtration as consumers may be delaying aftermarket filter replacements in response to inflation driven spending pressures.
mixed bag
Transcript
2022 Q4
6 Mar 23
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