Friday, May 06, 2022
DLH Holdings (DLHC)
Solid Core Operating Results
Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
2QFY22 Results. Revenue totaled $108.7 million, up from $61.5 million in 2Q21. The short-term FEMA awards accounted for $39.8 million of the increase. Earnings were $7.2 million, or $0.50 per diluted share, compared to $2.6 million, or $0.19 per diluted share last year. Ex FEMA, DLH would have reported net income of $3.1 million, or $0.22 per share. We had projected revenue of $95.2 million and EPS of $0.33.
Nice Underlying Growth. Ex FEMA, the underlying business grew 12.1%, in excess of the overall market growth rate. DLH experienced continued growth in its VA-related contracts, as well as HHS programs, with Head Start revenue jumping $2 million sequentially and $1.5 million y-o-y. Demand for DLH’s services continues to increase across the board….
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
