This morning, Protech Home Medical (PTQQF/PTQ.V) announced record preliminary 4Q results, outpacing management’s previous guidance. The stock has been up around 4% this morning in early trading on the Canadian exchange. The company reports their full audited results in January each year, but wanted to keep investors updated about their progress. Several highlights from the press release include:
- In addition to their full M&A pipeline and activity, the company noted “robust organic growth in the quarter.”
- The company’s EBITDA margin “continues to exceed expectations” and the company is “extremely confident in [their] ability to continue with this trajectory.”
- The company’s sleep business returned to pre-pandemic level, and appears poised to surpass those levels in 2021.
- There has been a “surge” in the use of their tele-health platform.
- The recent decision by CMS to not award competitive bidding contracts for any of the company’s 13 product categories for Round 2021 is “extremely bullish” for the company’s current business.