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Implied 2023 EBITDA guidanceGiven that some elements of 2023 guidance have been disclosed, we can work up to an implied range of EBITDA as follows. This back-tests other estimates: We know three elements-- tax, interest, and capex. We can start building up from the tax number: -- since we know the tax number, and we know that cash tax is equal to book tax (Dev told us) and given that tax is $350, using a tax rate of 26%, we get to pre-tax income of $1.350 -- We know the interest forecast is $1.150 -- Based on history, we can estimate Depreciation of about $3.100 Therefore: $1.350 + $1.150 + $3.100 + EBITDA -- $5.450 Based on this, a likely guidance range would be $5.2 to $5.4 (because they will be conservative). This is before the minor effect of the Q4 EMEA sale, and any special items. It will be interesting to see if this comes to pass. |
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Msg # | Subject | Author | Recs | Date Posted |
183318 | Re: Implied 2023 EBITDA guidance | toddforthree | 0 | 12/9/2022 11:33:24 AM |
183329 | Re: Implied 2023 EBITDA guidance | Travis299 | 1 | 12/14/2022 1:31:05 PM |