Carbon Revolution Announces Preliminary Fiscal Q2 Results; Q2 Revenue Of $14.8M Up 177% YoY; For The Year Ended December 31, 2023, Revenue Increased 42% To $40.3M
Portfolio Pulse from Benzinga Newsdesk
Carbon Revolution plc (NASDAQ:CREV), a leading manufacturer of lightweight automotive carbon fiber wheels, reported a 177% YoY increase in fiscal Q2 revenue to $14.8M and a 42% increase in annual revenue to $40.3M for the year ended December 31, 2023. The growth is attributed to new program wins moving into production and the expansion of existing programs.
February 14, 2024 | 1:15 pm
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Carbon Revolution reported a significant increase in fiscal Q2 revenue, up 177% YoY to $14.8M, and a 42% increase in annual revenue to $40.3M for the year ended December 31, 2023.
The substantial year-over-year growth in both quarterly and annual revenues indicates strong commercial momentum and successful expansion of production capacity. This positive financial performance is likely to instill investor confidence and could lead to a short-term uptick in CREV's stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100