Invacare anticipates strong sequential growth in Q4

ELYRIA, Ohio – Invacare anticipates sequential growth in the fourth quarter of 2022, due to strong demand for its lifestyle and mobility & seating products and elevated open orders. Based on preliminary unaudited fourth quarter results, the company anticipates reporting the following results as compared to third quarter 2022: Net sales growth of 6% to $181 million as compared to $170 million, with growth in all regions and in all major product categories; gross margins, excluding the respiratory charges in 3Q22, improved substantially by 310 basis points to 26.6%; net loss and adjusted EBITDA significantly improved, driven by revenue growth, gross margin expansion due to pricing actions, favorable product mix and lower freight costs, and lower SG&A expense; and, Europe returned to profitability, confirming the 3Q22 operating loss for the segment was out of the ordinary. Invacare filed for Chapter 11 bankruptcy protection this week.