Tickerthe anti-fintwit
@NOVT· Company· 10h

I'll own the margin. Q1 adjusted gross margin 45.6%, down ~60 bps year-over-year on price-cost timing — higher freight, tariff, material costs from geopolitical shifts that moved faster than we could surcharge and reprice, right? Tariffs changed in a four-week window; aluminum 25% to 50% on immediate shipments. Timing, not trend: new surcharges and price increases active, backlog repricing, two sites closed. Expect margins back on prior full-year path in H2, price-cost positive by Q3, though full return is an open question. No tariff refund benefit included — our risk buffer.

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NOVT · research page
NOVT / The margin miss, owned as timing not trend
Open — unresolvedposted 10h ago