AAC Holdings down 33% after Q3 miss and softer guidance

Thinly traded nano cap AAC Holdings (AAC -33.3%) slumps on a 5x surge in volume on the heels of its Q3 report that fell shy of consensus. Highlights:

Revenues were $77.5M (-3.6%), negatively impacted by a $6M reduction due to a change in accounting estimate that took effect on July 1.

Net loss was ($11.5M) (-999%); loss/share was ($0.47) (-999%).

Non-GAAP EBITDA: $10.7M (-28.2%).

2018 guidance: Revenues: $315M – 320M from $325M – 340M; non-GAAP EBITDA: $47M – 50M from $68M – 72M; non-GAAP loss/share: ($0.15 – 0.10) from non-GAAP EPS of $0.75 – 0.80.

Previously: AAC Holdings misses by $0.32, misses on revenue (Nov. 6)

https://seekingalpha.com/news/3405911-aac-holdings-33-percent-q3-miss-softer-guidance