Polar Power Announces Preliminary 2024 Third Quarter Financial Results: Expected Net Sales of $4.7 - $5.2 Million and Gross Margin of 26%-32%
Polar Power, Inc. (POLA)
Last polar power, inc. earnings: 11/12 04:05 pm
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US:NASDAQ Investor Relations:
ir.polarpower.com/investors/investor-overview/default.aspx
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Source: GlobeNewswire
GARDENA, CA, Oct. 29, 2024 (GLOBE NEWSWIRE) -- Polar Power, Inc. (“Polar Power” or the “Company”) (NASDAQ: POLA), a global provider of prime, backup, and solar hybrid power solutions, today announces preliminary third quarter net sales between $4.7 million and $5.2 million, representing growth of 147% to 174%, gross margin in the range of 26% to 32%, and breakeven net earnings. Recovering net sales benefitting from strength across both diesel- and natural gas-powered product lines, with new customers accounting for 18% and 12% of total sales, respectivelySubstantial year-over-year improvement in gross margin attributable to higher revenues, lower labor costs and improved factory overhead absorptionSubstantial improvement in net income from operations attributed to a combination of higher sales, improved gross margins, reduced R&D expenditures and lower general and administrative costs Arthur Sams, CEO of Polar Power, commented, “We expect to report third quarter results that will
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POLA
News
- Polar Power, Inc. (NASDAQ: POLA) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
- Polar Power Announces Reverse Stock Split [Yahoo! Finance]Yahoo! Finance
- Polar Power Announces Reverse Stock SplitGlobeNewswire
- Polar Power GAAP EPS of $0.00, revenue of $4.91M [Seeking Alpha]Seeking Alpha
- Polar Power Reports Third Quarter 2024 Financial ResultsGlobeNewswire
POLA
Sec Filings
- 11/21/24 - Form 8-K
- 11/14/24 - Form 10-Q
- 11/14/24 - Form 8-K
- POLA's page on the SEC website