The chart below shows how RMTI performed 10 days before and after its earnings report, based on data from the past quarters. Typically, RMTI sees a -6.66% change in stock price 10 days leading up to the earnings, and a +1.18% change 10 days following the report. On the earnings day itself, the stock moves by +4.45%. This data can give you a slight idea of what to expect for the next quarter's release.
Positive
Consistent Profitability Achievement: For the third quarter of 2024, we achieved profitability on a cash flow and adjusted EBITDA basis for the second consecutive quarter.
Record Quarterly Performance: We achieved the highest quarterly concentrate product sales, the highest quarterly gross profit, and the highest quarterly gross margin in Rockwell's history.
Net Sales Increase: Net sales for the third quarter of 2024 were $28.3 million, representing a 19% increase over net sales of $23.8 million from the same period in 2023.
Gross Profit Surge: Gross profit for Q3 2024 was $6.2 million, which represents a 183% increase over gross profit of $2.2 million for the same period in 2023.
Net Income Improvement: Net income for the third quarter of 2024 was $1.7 million compared to a net loss of $1.9 million for the same period in 2023.
Negative
Quarterly Revenue Boost: Revenue for the third quarter was positively impacted by consistent sales from our current customers as well as our largest customer making a special large order of premium products during the quarter.
Gross Profit Increase Factors: The increase in gross profit was due to higher gross margin on our current business, coupled with the special large order of premium-priced products from our largest customer.
Revenue Projection Range: We project that our revenue will be between $23 million and $25 million.
Increased 2024 Financial Guidance: We have increased our 2024 guidance for net sales to be between $98 million and $101 million, gross profit to be between $15 million and $17 million; gross margin to be between 16% and 18% and adjusted EBITDA to be between $4 million and $5 million.
Customer Makeup Shift: We expect to encounter a shift in our customer makeup as we move away from less profitable business to focus on more profitable growth opportunities.
Rockwell Medical, Inc. (RMTI) Q3 2024 Earnings Call Transcript
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