Stevanato Group S.p.A. (NYSE:STVN) Q3 2023 Earnings Call Transcript October 31, 2023 8:30 AM ET

Company Participants

Lisa Miles - Senior Vice President, Investor Relations

Franco Stevanato - Executive Chairman

Marco Dal Lago - Chief Financial Officer

Franco Moro - Chief Executive Officer

Conference Call Participants

Derik de Bruin - Bank of America

Paul Knight - KeyBanc

David Windley - Jefferies

Patrick Donnelly - Citi

Larry Solow - CJS Securities

John Sourbeer - UBS

Operator

Good afternoon. This is the Chorus Call conference operator. Welcome and thank you for joining the Stevanato Group Third Quarter 2023 Financial Results Conference Call. As a reminder, all participants are in listen-only mode. After the presentation, there will be an opportunity to ask questions. [Operator Instructions]

At this time, I would like to turn the conference over to Ms. Lisa Miles, Senior Vice President, Investor Relations. Please go ahead, madam.

Lisa Miles

Good morning, and thank you for joining us. You can find a presentation to accompany today's results on the Investor Relations page of our website, which can be found under the Financial Results tab.

As a reminder, some statements being made today will be forward-looking in nature and are only predictions. Actual events and results may differ materially as a result of risks we face, including those discussed in Item 3D entitled Risk Factors in the company's most recent Annual Report on Form 20-F filed with the SEC. Please take a moment to read our Safe-Harbor statement including in the front of today's presentation. We encourage you to review the information contained in our most recent SEC filings, including our latest Form 20-F filed on March 2, 2023. The company does not assume any obligation to revise or update these forward-looking statements to reflect subsequent events or circumstances, except as required by law.

Today's presentation may contain non-GAAP financial information. Management uses this information in its internal analyses of results and believes this information may be informative to investors in: gauging the quality of our financial performance; identifying trends in our results; and providing meaningful period-to-period comparisons. For a reconciliation of the non-GAAP measures, please see the company's most recent earnings press release.

I will now hand the call over to Franco Stevanato for opening remarks.

Franco Stevanato

Thank you, Lisa. This morning we reported our third quarter results with double-digit revenue growth and an adjusted EBITDA margin of 27.5%, in line with our near-term financial targets. While third quarter revenue in the Engineering Segment fell short of our expectations, largely due to timing of revenue, we remain confident that we can achieve our full year guidance.