Why Rockwell Medical Shares Are Surging Today
Portfolio Pulse from Lekha Gupta
Rockwell Medical Inc (RMTI) reported Q2 FY23 revenue of $18.1 million, in line with consensus. The company's gross profit was lower than the previous year, but it beat the analyst consensus for EPS loss. The company has raised its revenue and gross profit outlook for FY23 and expects to achieve profitability from operations in Q4 2023. RMTI shares are up by 5.7% in premarket trading.
August 14, 2023 | 12:26 pm
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POSITIVE IMPACT
Rockwell Medical's Q2 FY23 results were in line with consensus and the company beat the EPS loss estimate. The company has raised its FY23 outlook and expects to achieve profitability in Q4 2023. This news has led to a 5.7% increase in RMTI shares in premarket trading.
Rockwell Medical's Q2 FY23 results were in line with consensus, which shows that the company is performing as expected. The company also beat the EPS loss estimate, indicating better than expected profitability. The company's raised outlook for FY23 and expectation of achieving profitability in Q4 2023 are positive signals for investors, leading to increased demand for the stock and a rise in its price.
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