Cadiz Subsidiary ATEC Water Systems, Awarded $5.2M Contract; Increases ATEC's FY24 Revenue Forecast From $12M To $15M
Portfolio Pulse from Benzinga Newsdesk
Cadiz Inc.'s subsidiary, ATEC Water Systems, has been awarded a $5.2 million contract, leading to an increase in ATEC's FY24 revenue forecast from $12 million to $15 million.
May 13, 2024 | 1:02 pm
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The $5.2 million contract awarded to Cadiz Inc.'s subsidiary ATEC Water Systems is expected to positively impact Cadiz's financial outlook, increasing ATEC's FY24 revenue forecast from $12 million to $15 million.
The award of a significant contract to ATEC Water Systems, a subsidiary of Cadiz Inc., directly impacts the company's financial projections and growth outlook. This positive development is likely to be viewed favorably by investors, potentially leading to an increase in stock price in the short term. The substantial increase in the revenue forecast for FY24 highlights the contract's significance to Cadiz's overall financial health and growth trajectory.
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