After Hours Action: Why Ordnance Shares (POWW) Are Rising
AMMO inc. POWW Shares are trading higher in Wednesday’s after-hours session after the company reported strong financial results that were significantly higher year-over-year.
Ammo said fiscal 2022 revenue increased 285% year-over-year to $240.3 million. The company reported adjusted annual earnings of 53 cents per share, up 651% year-over-year.
Gross profit margins increased to approximately 37%. Adjusted EBITDA totaled $75.5 million for the year, an increase of 832% over the prior year.
“As impressive as the past year has been, we believe the opportunities ahead of us are significant, both with the opening of our new manufacturing facility in July and several new revenue initiatives across our business. Marketplace,” said Fred WagenhalsChairman and CEO of Ammo.
Ammo said it expects fiscal 2023 revenue to be between $300 million and $310 million versus an estimate of $311.77 million, according to data from Benzinga Pro. EBITDA for the full year 2023 is expected to be between $82 million and $85 million, or between $108 million and $111 million on an adjusted basis.
POWW Price Action: Ammunition has a 52-week high of $10.37 and a 52-week low of $3.52.
The stock rose 9.58% after hours to $4.46 at press time.
Photo: tung256 from Pixabay.