CVD Equipment Corp (NAS:CVV)
$ 3.6724 0.1624 (4.63%) Market Cap: 25.27 Mil Enterprise Value: 13.63 Mil PE Ratio: 0 PB Ratio: 1.01 GF Score: 63/100
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Q3 2024 CVD Equipment Corp Earnings Call Transcript

Nov 13, 2024 / 10:00 PM GMT
Release Date Price: $2.77 (-3.82%)

Key Points

Positve
  • CVD Equipment Corp (CVV) reported a 31.4% increase in third-quarter revenue compared to the same period last year.
  • The company successfully shipped a PBT 200 system to a new account, marking a strategic order for silicon carbide crystal growth.
  • Orders for the third quarter were $4.1 million, driven primarily by demand in the CBD segment.
  • CVD Equipment Corp (CVV) received a $3.5 million follow-on order from an existing aerospace customer, indicating strong customer relationships.
  • The company's backlog increased by 7.6% compared to the 2023 year-end backlog, reflecting a positive outlook for future revenue.
Negative
  • Year-to-date revenue was 2.8% lower than the prior year period, indicating some challenges in maintaining consistent growth.
  • The company recorded a noncash charge of approximately $1 million to reduce the net realizable value of PBT 150 inventory due to market overcapacity.
  • Gross profit margin decreased to 22.4% from 25.6% in the same quarter last year, despite higher revenues.
  • Working capital decreased from $14.3 million at the end of December 2023 to $13.3 million as of September 30, 2024.
  • The company's return to consistent profitability is contingent on new equipment orders and managing inflationary pressures, indicating potential volatility.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

CVV.OQ - CVD Equipment Corp
Q3 2024 CVD Equipment Corp Earnings Call
Nov 13, 2024 / 10:00PM GMT

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Presentation
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Unidentified_1 [1]
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Greetings. Thank you for standing by. Welcome to CBD Equipment Corporation's third quarter, 2024 earnings call as a reminder, this conference is being recorded. We will begin with prepared remarks followed by a question and answer session presenting on the call. Today will be Emmanuel Laos, President and CEO and a member of CV D Board of Directors and Richard Catalano, Executive Vice President and Chief Financial Officer. We have posted our earnings press release and call replay information to the investor relations section of our website at www dot cvdequipment dotcom. Before I begin, I would like to remind you that many of the comments made on today's call contain forward-looking statements including those related to future financial
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