VEEE Earnings Prediction
The chart below shows how VEEE performed 10 days before and after its earnings report, based on data from the past quarters. Typically, VEEE sees a +21.01% change in stock price 10 days leading up to the earnings, and a -3.47% change 10 days following the report. On the earnings day itself, the stock moves by -8.84%. This data can give you a slight idea of what to expect for the next quarter's release.
VEEE Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
2.90M
-64.08%
-32.95%
Gross Margin
-20.20%
-174.37%
275.46%
Operating Margin
-103.03%
199.42%
49.34%
Net Margin
-103.74%
242.83%
-0.68%
EPS
-0.26
-30.00%
-16.13%
No Data Available
VEEE Earnings Analysis
Twin Vee PowerCats Co. Common Stock Corporation (VEEE.O) Earnings Conference Call
Positive
Strong Cash Liquidity: 1. Cash Position: Twin Vee ended Q3 2024 with $11.4 million in cash and cash equivalents, demonstrating a solid liquidity position despite operational challenges.
Cost Reduction Success: 2. Cost Management: Consolidated operating expenses decreased by $541,000 or 16% compared to Q3 2023, reflecting effective cost-cutting measures across the organization.
Sales Price Increase: 3. Average Sales Price Increase: The average sales price of boats sold increased by 17%, indicating a successful shift towards higher-priced models despite a decrease in total sales volume.
Workforce Cost Reduction: 4. Reduction in Salaries and Wages: Salaries and wages were reduced by approximately $586,000 or 34% compared to the same quarter last year, showcasing effective workforce management during tough market conditions.
R&D Expense Reduction: 5. R&D Expense Management: Research and development expenses were significantly reduced to $89,000 in Q3 2024, down from previous levels, as the company streamlined its focus on essential projects.
Negative
Sales Decline Analysis: 1. Significant Sales Decline: Net sales for Q3 2024 were $2.9 million, a decrease of $5.2 million or 64% compared to Q3 2023, continuing a downward trend in sales throughout the year.
Declining Boat Sales: 2. Low Boat Sales Volume: The company sold only 20 boats in Q3 2024, down from 66 boats sold in the same period last year, indicating a severe drop in demand.
Declining Gross Margin: 3. Negative Gross Margin: The company reported a slightly negative gross margin in Q3 2024, as cost-cutting efforts did not keep pace with the decline in sales.
Cash Burn Concerns: 4. Cash Burn Issues: Operational cash burn was approximately $547,000 per month, which the leadership team deemed unacceptable and is actively working to reduce.
Cash Reserves Decline: 5. Decreased Cash Reserves: Cash and cash equivalents decreased to $11.4 million at the end of Q3 2024, down from $15.1 million at the end of Q2 2024, reflecting ongoing financial strain.
VEEE FAQs
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VEEE Earning Call Sentiment
Twin Vee Powercats Co. (VEEE) Q3 2024 Earnings Call Transcript
1.0x
00:00
00:00
VEEE.O
6.51%Positive
The earnings call revealed a significant decline in net sales and gross margin, indicating financial struggles. Despite cost-cutting efforts, the company faces economic headwinds, high dealer inventory levels, and operational losses. The merger with Forza presents risks, and there is uncertainty in market demand. Although there is a focus on cash burn reduction and strategic initiatives, the absence of shareholder return plans and lack of positive catalysts suggest a negative sentiment. The Q&A session provided no additional insights to improve this outlook.