First Advantage reports Q3 adjusted EPS 26c, consensus 25c

Reports Q3 revenue $199.1M, consensus $204.3M. “We were thrilled to have closed on the acquisition of Sterling on October 31,” said CEO Scott Staples. “We officially welcomed the Sterling team on day 1 and are moving forward expeditiously to execute our integration plans, action our synergy targets, and accelerate our strategic execution, all while ensuring a seamless experience for all customers. We have already actioned over $10M in run rate cost synergies, with line of sight to actioning an expected range of $50M-$70M of run rate synergies within 2 years post-close. In tandem with our work on the transaction, we have been developing an updated strategy that is heavily focused on rapidly growing and innovating our business through new technology, AI, and product initiatives, which includes adjustments to our organizational structure to optimize our operations as a combined company. In Q3, we again delivered solid financial results, with robust Adjusted EBITDA margins over 32% and strong operating cash flow…”