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Twin Vee Powercats Co. (VEEE)
:VEEE
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Earnings Data
Report Date
Mar 26, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
―Last Year’s EPS
―Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Mar 30, 2022
|% Change Since: -22.45%
|Next Earnings Date:Aug 24, 2021
Earnings Call Sentiment|Negative
The call reflected significant challenges faced by Twin Vee, including a substantial decline in revenue and operational difficulties. Despite these issues, the company is focusing on new product developments and strategic mergers to navigate the tough market conditions. While there are plans for financial stabilization and growth, the immediate outlook remains challenging.Company Guidance
During the Twin Vee PowerCats third quarter 2024 earnings call, the company provided guidance amidst challenging market conditions. Net sales were reported at $2.9 million, marking a significant 64% decrease from the same quarter last year, primarily due to a reduction in boat sales from 66 to 20 units. Despite a 17% increase in average sales price, the company experienced slightly negative gross margins. Efforts to reduce expenses resulted in a 16% decrease in consolidated operating expenses compared to the third quarter of 2023. The company ended the quarter with $11.4 million in cash and cash equivalents, down from $15.1 million in the previous quarter. Twin Vee is actively working to reduce its cash burn rate, aiming for a consolidated adjusted net loss of $400,000 per month by the end of the first quarter of 2025. The merger with Forza is expected to be completed by year-end, with shareholders receiving 0.612 shares of Twin Vee for each Forza share. The company is exploring options for its partially completed building in Marion, North Carolina, to maximize shareholder value.Development of New Product Line
Twin Vee is focused on developing a new line of BayCats, which have been successful historically. The goal is to begin selling this new line in Q1 2025.
Cash Position and Liquidity
The company ended the third quarter with $11.4 million in cash and cash equivalents. Efforts are being made to reduce cash burn and improve financial stability.
Merger and Expansion Plans
The merger with Forza is moving forward and expected to be completed by the end of the year. This includes a partially completed building in Marion, North Carolina, which is being evaluated for maximizing shareholder value.
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VEEE Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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VEEE Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 14, 2024 | $0.49 | $0.49 | 0.00% |
| Aug 14, 2024 | $0.48 | $0.41 | -14.58% |
| May 15, 2024 | $0.72 | $0.65 | -9.72% |
| Mar 26, 2024 | $1.16 | $1.12 | -3.45% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Twin Vee Powercats Co. (VEEE) report earnings?
Twin Vee Powercats Co. (VEEE) is schdueled to report earning on Mar 26, 2025, TBA Not Confirmed.
What is Twin Vee Powercats Co. (VEEE) earnings time?
Twin Vee Powercats Co. (VEEE) earnings time is at Mar 26, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is VEEE EPS forecast?
Currently, no data Available
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