Transcat reports Q3 adjusted EPS 26c, consensus 31c

Reports Q3 revenue $83.9M, consensus $80.58M. “Transcat (TRNS) delivered strong performance across our entire business portfolio in the fiscal third quarter highlighted by 7% service organic revenue growth*,” commented Lee D. Rudow, President and CEO. “Distribution revenue grew 20% in the quarter with gross margin expansion of 330bps versus the prior year driven by the continued strategic mix increase of higher-margin rentals. Our talented team’s execution paired with robust revenue growth enabled us to deliver 27% adjusted EBITDA growth.”