Q: Wondering what your thoughts are on this one after recent earnings. Lots of room for continued consolidation in the industry.
5i Research Answer:
TTNM recorded Q4 EPS slightly beatings analsysts estimates of $0.025, coming in at $0.03. Revenue also beat forecasts of $117.67M, coming in at $119.3M and displaying growth of 7.6%. EBITDA for Q4 was about $14.9 million, as compared with over $14.9 million a year earlier. 2024 guidance called for revenue between $490M to $510M; and EBITDA margin of 10% to 12%. This was a decent quarter for TTNM, with results coming in slightly above expected. It is expensive at 26.8x forward earnings and EPS is expected to drawdown this year before recovering in 2025. We think it is OK being small and having relatively high debt but does pay a high yield near 3%.