“With record new order growth, an expanding customer base and accelerating clean energy demand, we believe our growth trajectory in fiscal year 2022 is on track for another record revenue year,” Dutt added. This assertion is based in part on strong growth in both the material handling equipment sector and the airport ground support equipment sector, as well as additional interest from the emerging robotic material handling equipment vertical. With the combination of repeat customer orders and continued acquisition of new customer business, the company believes it can achieve revenue growth of $100 million and beyond within the next several years. We believe our products will benefit as electrification extends to material handling and other equipment supported by Flux as customers transition their entire fleets to clean energy solutions,” Dutt stated. “The recently passed Inflation Reduction Act includes tax and other incentives that are aimed at significantly accelerating the adoption of zero-emission technologies for commercial vehicles. “Our strategic initiatives to accelerate backlog conversion to shipments and increase inventory turns are also driving revenue results and gross margins that will lead toward profitability.”Īdditional order momentum is being driven by the accelerating renewable energy transition. “We believe new purchase orders in our fiscal year 2022 are a strong indicator of our potential to reach $70 million in annual revenue run rate in the near term,” said Ron Dutt, Flux Power chief executive officer. The combined orders exceeded $64 million and were over 82% above the order volume achieved in fiscal year 2021.īased on company estimates, purchase orders from new customers represented 26% of combined purchase orders, a number that bodes well for the company’s near-term objectives. You’ll receive a US$30 Amazon Gift card for 1 hour of your time while helping us build better investing tools for the individual investors like yourself.Flux Power Holdings Inc., a developer of advanced lithium-ion energy storage solutions for electrification of commercial and industrial equipment, has received a record level of combined purchase orders from new and existing customers in its fiscal year 2022, ending June 30. Simply Wall St has no position in any stocks mentioned. ![]() Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. We aim to bring you long-term focused analysis driven by fundamental data. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Help build a circular economy: a better system that can help fight climate change, biodiversity loss and pollution. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. This article by Simply Wall St is general in nature. Alternatively, email editorial-team (at). Have feedback on this article? Concerned about the content? Get in touch with us directly. We've identified 4 warning signs with Flux Power Holdings (at least 1 which is a bit unpleasant), and understanding these should be part of your investment process. It's necessary to consider the ever-present spectre of investment risk. Gross Profit : Q1’21 gross profit improved to 873,000 compared to a gross profit of 117,000 in Q1’20 principally reflecting higher sales volumes and gross margin improvement program. Second Quarter 2022 Revenue Increased 19 to 7. The company's shares are down 8.8% from a week ago. Revenue: Q1’21 revenue increased by 135 to 4.5M compared to 1.9M in Q1’20, driven by sales of larger LiFT Packs and stationary power applications. Flux Power Reports Fiscal Second Quarter 2022 Financial Results. Performance of the American Electrical industry. on average during the next 3 years, compared to a 9.5% growth forecast for the Electrical industry in the US. AlliedSignals 1998 revenue was reported at 15.1 billion to Honeywells 8.4 billion, but together the companies share huge business interests in aerospace. FLUX revenue rose 126 in FY19 to 9.3M on higher walkie LiFT Pack sales + new larger forklift batteries Gross margin rose to 6 in FY19 & 7 in Q419 vs. Looking ahead, revenue is forecast to grow 28% p.a. Earnings per share (EPS) exceeded analyst estimates by 16%. Increased battery sales during the fourth quarter, and over the full fiscal year helped Flux Power achieve 100 revenue growth in 2015. Revenue missed analyst estimates by 7.7%. that the total Department of Energy revenue on isotopes is relatively small. ![]() ![]() Flux Power Holdings EPS Beats Expectations, Revenues Fall Short Hearing Before the Subcommittee on Energy Research and Development of the.
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