Company news: Emeco
Emeco released its fourth quarter activities report. Revenue for the quarter was $44.4m (unaudited), with EBITDA margin improving from 24.2% in Q3 to 28.5% in Q4. Operating utilisation averaged 40% in the quarter, with improved utilisation in Australia offset by the Canadian fires and equipment redeployment in Chile. This is lower than we would like to see, but on the positive side does provide significant leverage to the business when it does improve.
Pleasingly, the company affirmed (subject to audit) it will meet its FY-16 guidance with earnings (before interest, tax, depreciation and amortisation, EBITDA) at $54.2m. This is an increase of 24.9% over FY-15's EBITDA of $43.4m, which was received positively by the market.