Transcat reports Q1 adjusted EPS 59c, consensus 40c

Reports Q1 revenue $76.4M, consensus $72.28M. The company said, “Acquisitions continue to be a cornerstone of our growth strategy. We are extremely excited about the recent acquisition of Essco Calibration, the largest deal in Transcat (TRNS) history, supported by our new, larger credit facility. Essco is a perfect fit in our calibration service portfolio and creates a dominant presence for Transcat in the New England market, a market defined by a large concentration of highly regulated life science and Aerospace & defense manufacturers. With the Essco deal following the acquisition of Martin Calibration in December, Transcat has acquired two leading regional calibration providers in an 8-month period, which reflects the investment in acquisition infrastructure we have made in the past couple of years. This continues to differentiate Transcat and demonstrates our ability to attract and acquire highly sought-after calibration companies, the best of the best, to expand our capabilities and geographic reach, while increasing market share. Martin Calibration had another strong quarter in the Midwest, driven by sales synergies with Transcat. The integration of Martin is ahead of schedule.”