Twin Vee PowerCats Co (VEEE) Q3 2024 Earnings Call Highlights: Navigating Challenges with ... [Yahoo! Finance]
Twin Vee PowerCats Co. (VEEE)
Company Research
Source: Yahoo! Finance
Twin Vee PowerCats Co ( NASDAQ:VEEE ) has managed to increase the average sales price by 17% due to a focus on bigger, higher-priced boats. The company has reduced consolidated operating expenses by 16% compared to the third quarter of 2023. Twin Vee PowerCats Co ( NASDAQ:VEEE ) ended the third quarter with $11.4 million in cash and cash equivalents, indicating a strong liquidity position. The company is actively managing production and refining its supply chain to adapt to changing market conditions. Twin Vee PowerCats Co ( NASDAQ:VEEE ) is preparing for a market rebound with a solid product pipeline, including new designs and models. Net sales for the third quarter of 2024 were $2.9 million, a significant reduction of 64% from the same period in 2023. The company sold only 20 boats in the third quarter compared to 66 in the same period last year. Twin Vee PowerCats Co ( NASDAQ:VEEE ) experienced a slightly negative gross margin due to cost-cutting efforts not keeping
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VEEE
News
- Twin Vee PowerCats Co. Reports Third Quarter 2024 Results of Operations [Yahoo! Finance]Yahoo! Finance
- Twin Vee PowerCats Co. Reports Third Quarter 2024 Results of OperationsAccesswire
- Twin Vee PowerCats Co. and Forza X1, Inc. Shareholders Vote to Approve Merger Between CompaniesAccesswire
- Twin Vee PowerCats Co. Announces Third Quarter 2024 Earnings Call on November 14Accesswire
- Twin Vee PowerCats Co. Launches "CEO Hustle" Webcast Accesswire
VEEE
Sec Filings
- 11/14/24 - Form 10-Q
- 11/12/24 - Form 8-K
- 11/8/24 - Form 8-K
- VEEE's page on the SEC website