Tuesday, December 06, 2022
DLH delivers improved health and readiness solutions for federal programs through research, development, and innovative care processes. The Company’s experts in public health, performance evaluation, and health operations solve the complex problems faced by civilian and military customers alike, leveraging digital transformation, artificial intelligence, advanced analytics, cloud-based applications, telehealth systems, and more. With over 2,300 employees dedicated to the idea that “Your Mission is Our Passion,” DLH brings a unique combination of government sector experience, proven methodology, and unwavering commitment to public health to improve the lives of millions. For more information, visit www.DLHcorp.com.
Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
4QFY22 Results. Revenue totaled $67.2 million, up from $66.4 million in 3Q22 and up from $65.2 million in the year ago period. The 3% top line growth, or 6% excluding 4Q21 FEMA revenue, reflects continued expansion of existing core contracts as the FEMA business has been completed. Earnings were $3.4 million, or $0.24 per diluted share, compared to $2.9 million, or $0.21 per diluted share last year. EBITDA was $6.6 million, or 9.8% of revenue, compared to $6.0 million and 9.3% last year. We had projected revenue of $67 million, EBITDA of $7.0 million, and EPS of $0.25.
Full Year FY2022. FY2022 results were positively impacted by the FEMA business. DLH reported full year revenue of $395.2 million, operating income of $33.3 million, net income of $23.2 million, EPS of $1.64, and EBITDA of $40.9 million. Excluding the FEMA contribution, for FY2022 DLH would have reported revenue of $269.4 million, operating income of $20.8 million, net income of $14.1 million, EPS of $0.99, and EBITDA of $28.5 million.
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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
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