Novanta reports Q1 adjusted EPS 74c, consensus 67c

Reports Q1 revenue $233.37M, consensus $233.34M. “I am proud to report that the Novanta (NOVT) team generated solid results in the first quarter that met or exceeded expectations, against the backdrop of a highly dynamic macroeconomic environment,” said Matthijs Glastra, Chair and Chief Executive of Novanta. “Our diversified and resilient portfolio, strong balance sheet, and an execution-focused culture positions us well and enables us to navigate these uncertainties while capitalizing on growth opportunities over both the short and long-term. Finally, in the First Quarter our new product launches remain on track for the year, and we successfully closed a tuck-in acquisition in April.”