Invacare (IVC +23.7%) is up on average volume following its Q2 reportreleased after the close yesterday. Key points:
Sales were down 4% to $235.9M. Non-GAAP EBITDA up 312% to $3.6M. Free cash flow improved by $24.9M.
Management says its turnaround plan remains on track and believe it will achieve its non-GAAP EBITDA target of at least $20M for the year. The run-rate by the end of next year should be $85M – 105M.
Cash and equivalents at quarter-end were $89.5M (-23%) due to funding requirements of the business.
2019 and 2020 guidance reaffirmed.
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