Erayak Power Solution FY22 Revenue $26.9M
Portfolio Pulse from Happy Mohamed
Erayak Power Solution Group Inc. (NASDAQ: RAYA) reported FY22 revenue of $26.9 million, a 44.5% increase from the previous year, driven by strong sales of generator products in Europe amid the energy crisis. Net income increased by 2.4% to $3.5 million.
May 18, 2023 | 12:38 pm
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Erayak Power Solution's FY22 revenue increased by 44.5% to $26.9 million, driven by strong generator sales in Europe amid the energy crisis. Net income increased by 2.4% to $3.5 million.
Erayak Power Solution's strong revenue growth is driven by increased demand for generators in Europe due to the energy crisis. This positive financial performance is likely to have a short-term positive impact on the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100