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Absolent: Softer near-term outlook - Redeye

Redeye is making some downward revisions to our near-term forecasts on the back of softer Q3 numbers and outlook. Lower top-line and a negative sales mix weighed on earnings and margins. Still, Absolent posted EBITDA margins of 17% demonstrating good resilience. Our valuation is now lower, mainly due to rating changes and a higher WACC.

Redeye is making some downward revisions to our near-term forecasts on the back of softer Q3 numbers and outlook. Lower top-line and a negative sales mix weighed on earnings and margins. Still, Absolent posted EBITDA margins of 17% demonstrating good resilience. Our valuation is now lower, mainly due to rating changes and a higher WACC.
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