Question · Q3 2025
Mark David Carden asked about the implied slowdown in adjusted EBITDA growth and margin expansion in the Q4 guidance, questioning if it reflects conservatism. He also inquired about the Italco acquisition in Colorado, its impact on capacity, and shifts in the M&A backdrop amid economic uncertainty.
Answer
Chris Pappas, Founder, Chairman, and CEO, and Jim Leddy, CFO, clarified that the raised guidance reflects confidence, implying healthy Q4 revenue growth and flow-through. Chris Pappas described the M&A market as frothy, emphasizing a selective approach due to strong organic momentum, and highlighted Italco as a strategic fit for growth in the Rockies.