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Invacare updates 3Q 2021 guidance

Invacare updates 3Q 2021 guidance

ELYRIA, Ohio – Invacare has updated its financial guidance for its third quarter 2021 to constant currency net sales of 0% to growth of 4% year-over-year, adjusted EBITDA in the range of $6 to $9 million; and free cash flow usage of $4 to $7 million. “When we reconfirmed full-year guidance at the end of 2Q21, we had assumed an improvement in external factors which have not materialized as expected,” said Matthew Monaghan, CEO. “These included moderation on cost and availability of freight and labor, which would have enabled us to capitalize on reducing backlog and generating higher revenue growth for the third quarter. Management is working with customers on price increases as appropriate to defray significantly higher input costs; however, the benefit of those actions will not be realized until 4Q21.” The company recently notified customers that it was implementing a 10% price increase on select bed and manual wheelchair spare parts, as well as freight surcharges ranging from $15 to $125.

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