Exchange Income Corporation Posts Record Results in the Third Quarter, Upgrades 2026 Guidance and Issues 2027 Adjusted EBITDA Guidance in excess of $1 billion
Key Highlights
- ➤Q3 revenue $1.1 billion, up 10%, an all-time quarterly record
- ➤Q3 Adjusted EBITDA $288 million, up 25%, an all-time quarterly record
- ➤2026 Adjusted EBITDA expected at or above the $920 million guidance range high
- ➤2027 Adjusted EBITDA guided to $1.0 billion-$1.06 billion
- ➤TerraPro and Cartel acquired for $30 million and $15 million, respectively
Expert Statements
Mike Pyle, CEO of Exchange Income Corporation
“The overall third quarter performance was in one word...exceptional.”
Mike Pyle, CEO of Exchange Income Corporation
“The fundamental strength of our underlying business lines, coupled with our resilient and stable business model, allows us to confidently state that we expect our Adjusted EBITDA for fiscal 2026 to be at or above the high end of our range of $890 million to $920 million of Adjusted EBITDA.”
Mike Pyle, CEO of Exchange Income Corporation
“Our 2027 Adjusted EBITDA guidance is $1.0 billion to $1.06 billion, which represents over a 20% increase from the midpoint of our original 2026 guidance.”
Mike Pyle, CEO of Exchange Income Corporation
“During the quarter we increased our dividend from $2.76 to $2.88 per share on an annualized basis.”
Mike Pyle, CEO of Exchange Income Corporation
“Lastly, our leverage ratio of 2.64 times is also at a 15-year low, driven by strong growth in earnings based on Growth Capital Expenditures and accretive acquisitions.”
Adam Terwin, Chief Corporate Development Officer of Exchange Income Corporation
“Our EIC story and market successes resonate with potential vendors, and we remain confident in our acquisition pipeline.”
Richard Wowryk, CFO of Exchange Income Corporation
“Our balance sheet continues to be very strong and our total leverage ratio remains at a 15-year low.”
Exchange Income Corporation Posts Record Results in the Third Quarter, Upgrades 2026 Guidance and Issues 2027 Adjusted EBITDA Guidance in excess of $1 billion
The Corporation Posts All Time Quarterly Records for all Key Financial Metrics including Revenue of $1.1 Billion, Net Earnings of $96 million, Adjusted EBITDA(1) of $288 million, Free Cash Flow(1), Free Cash Flow less Maintenance Capital Expenditures(1), Adjusted Net Earnings(1), Net Earnings per Share, Adjusted Net Earnings per Share, Free Cash flow less Maintenance Capital Expenditures per share and Payout Ratio metrics.
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