Pete Cannito, Redwire Company on the New York Inventory Change, September 8, 2021.
Supply: NYSE
House infrastructure firm Redwire reported fourth-quarter outcomes on Wednesday, saying it additional trimmed its losses and constructed its order backlog.
After rising as a lot as 10% in premarket buying and selling, Redwire inventory fell barely quickly after the opening bell.
The corporate introduced in $53.7 million in fourth-quarter income, up 31% from the identical interval a yr in the past. Its complete backlog of orders almost doubled to $465.1 million as of the top of 2022, in comparison with the top of 2021.
Redwire additionally trimmed its adjusted EBITDA loss on a quarter-over-quarter foundation, to $773,000 from $1.5 million within the third quarter.
“Our monetary efficiency confirmed enchancment on each a sequential and year-over-year foundation,” Redwire CFO Jonathan Baliff stated in a press release.
Enroll right here to obtain weekly editions of CNBC’s Investing in House publication.
The corporate had $53.three million in obtainable liquidity on the finish of the yr, which was a cut up combine of money and borrowing capability.
For 2023, Redwire forecast full yr income between $220 million to $250 million, up from $160.6 million in 2022 income.
This text was initially revealed by cnbc.com. Learn the authentic article right here.
Comments are closed.