Invacare expects acceleration in Q4

Friday, October 30, 2020

ELYRIA, Ohio – Invacare reported net sales of $211.9 million for the third quarter, a 10.1% decrease compared to the same period last year. Net sales increased from Q2 to Q3, however, by 8%. In North America, Invacare reported net sales of $88.1 million, a 1.2% increase, driven by respiratory products and partially offset by lower sales of mobility and seating and non-bed lifestyle products, which continue to be negatively impacted by pandemic-related health restrictions. Invacare expects, however, that due to “significantly higher quote levels” in Q3 compared to Q2, sales of mobility and seating products are expected to accelerate in Q4. The company now expects reported net sales of at least $840 million for 2020, up from the previous range of $810 million to $840 million. It expects adjusted EBITDA of $28 million to $32 million, up from $7 million to $10 million.