Thu 12/23/2021 06:25 AM
U.S. automation solutions platform Duravant’s net leverage has jumped to 7.61x following an 18.6% year-over-year third quarter earnings drop and a dividend recap in August. However the group’s bookings continue to grow and it is going into the new year with a sizeable order backlog, sources told Reorg.
Duravant generated $301 million of revenue in the third quarter of 2021, down 4.2% from the $314.1 million a year earlier, driven by a 7% fall in the food processing segment, which was...
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