Agiliti Inc (NYSE:AGTI), a nationwide provider of healthcare technology management and service solutions to the United States healthcare industry, stock fell 6.06% (As on March 8, 11:15:21 AM UTC-4, Source: Google Finance) after the company miss the earnings expectations for the fourth quarter of FY 22. Net income of $3.4 million, down $6.6 million from the prior year period; diluted income per share of $0.02, down $0.05 per share from the prior year period. Adjusted EBITDA of $71 million, compared to $85 million in the prior year period. Total debt of $1.10 billion with Net debt of $1.09 billion; and Net Leverage ratio of 3.7x. Agiliti achieved a number of important business milestones over the course of 2022, including successfully navigating our critical role during the Covid pandemic; securing a long-term renewal of our federal government medical device stockpile management contract; and, signing a record volume of new customer agreements.

AGTI in the fourth quarter of FY 22 has reported the adjusted earnings per share of 18 cents, missing the analysts’ estimates for the adjusted earnings per share of 19 cents. The company had reported 3 percent fall in the adjusted revenue growth to $281.68 million in the fourth quarter of FY 22, beating the analysts’ estimates for revenue of $272.73 million. Total revenue for the year ended December 31, 2022 was $1.12 billion, representing a 8.0 percent increase from total revenue of $1.04 billion for the same period of 2021. Net income for the year ended December 31, 2022 was $30.2 million, a $6.2 million increase from net income of $24.0 million for the same period of 2021.

Agiliti Inc. sees FY2023 EPS of $0.65-$0.70, versus the consensus of $0.93, Adjusted EBITDA of $295 – 305 million and Capex investment expected in the range of $85 to $95 million. Agiliti Inc. sees FY2023 revenue of $1.16-1.19 billion, versus the consensus of $1.167 billion.

On the other hand, the company has announced that Tom Leonard will retire as Agiliti CEO on March 10, 2023, and continue on as a member of the company’s Board of Directors. Tom Boehning, currently President, will succeed Leonard as Chief Executive Officer and join the Agiliti Board of Directors beginning March 10, 2023. Mr. Leonard will remain an employee of the Company to assist with the transition of his executive responsibilities to Mr. Boehning until March 31, 2023.