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MICROVAST (MVST) HOLDINGS Posts Q3 EPS $0.05 | Stock rises over 420%

MICROVAST (MVST) HOLDINGS Posts Q3 EPS $0.05 | Stock rises over 420%

$MVST stock rises over 420% in a single day after the Q3 EPS postings


Microvast posted impressive Q3 2024 results, with revenue reaching a record $101.4 million, marking a 26.6% increase from the same period last year. The company made significant strides in profitability, boosting its gross margin to 33.2%, up from 22.3% in Q3 2023. A standout improvement was the shift from a net loss of $26.2 million last year to a net profit of $13.2 million this quarter, alongside a positive Adjusted EBITDA of $28.6 million. Looking ahead, Microvast is aiming for full-year revenue growth between 15% and 18% and projects Q4 revenue between $90 million and $95 million, with gross margins expected to stay within the 25-30% range.

Below is todays chart 03/11/24



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Source: MT Newswires