Phoenix Motor Reiterates Guidance For Q1 2024. The Company Expects To Report $9.4M In Revenue For Q1 Up From $1.8M YoY, Exceeding The Previously Issued Guidance Range Of $8M-$9M. Expects To Report Record Gross Profit And Record Net Income For Q1 2024
Portfolio Pulse from Benzinga Newsdesk
Phoenix Motor Inc. (NASDAQ:PEV) has reiterated its guidance for Q1 2024, expecting to report $9.4M in revenue, surpassing its previous guidance of $8M-$9M. This marks a significant increase from $1.8M YoY. The company also anticipates record gross profit and net income for the quarter.
September 09, 2024 | 8:23 pm
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Phoenix Motor Inc. expects to report $9.4M in Q1 2024 revenue, exceeding its guidance and marking a significant YoY increase. Record gross profit and net income are also anticipated.
Phoenix Motor's announcement of exceeding its revenue guidance and expecting record profits is likely to positively impact its stock price in the short term. The significant YoY revenue increase and anticipation of record gross profit and net income are strong indicators of improved financial performance, which is typically viewed favorably by investors.
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