Novanta reports Q2 adjusted EPS 76c, consensus 73c

Reports Q2 revenue $241M, consensus $237.97M. “Novanta (NOVT) delivered solid second quarter financial results, meeting or exceeding expectations in revenue, margins, and profitability, while rapidly adapting to the ongoing challenging macroeconomic environment,” said Matthijs Glastra, Chair and Chief Executive Officer of Novanta. “Notably, we achieved 10% growth in bookings, with sequential improvement in the industrial business, and an overall book-to-bill ratio of 1.02 reflecting a strengthening outlook. We are very encouraged by mid-teens revenue growth in our Advanced Surgery and Robotics & Automation businesses, underscoring our strategic focus on high-growth markets and the diversity of our portfolio.”