Invacare reports Q2 adjusted EPS (41c), consensus (30c)
Reports Q2 revenue $246.2M, consensus $245.4M. The company said, "Our transformation continues to take shape. We are pleased that the NA/HME segment realized constant currency net sales growth of 2.3% compared to 2Q17. This is the fourth consecutive quarter of constant currency flat to positive sales growth in this segment, driven by a greater than 10% increase in sales of mobility and seating products. The growth in our mobility and seating product category reflects the competitiveness of our products and our alignment with our provider customers and end users. Operating loss and EBITDA improved compared to 2Q17 benefiting from favorable foreign currency, cost reduction activities implemented in 2017 and reduced restructuring costs partially offset by increased freight costs. Compared to 2Q17, the company's cash flow usage increased by $2.2 million primarily due to higher inventory levels and higher interest payments. We believe our capital structure and balance sheet will support us through the transformation."