- Fisker Inc (NYSE:FSR) reported fourth-quarter FY22 sales of $306 thousand versus $41 thousand a year ago.
- Total operating costs and expenses rose 33.5% to $178.2 million.
- Operating loss for the quarter expanded to $(178.2) million from $(133.4) million last year.
- The company held $736.5 million in cash and equivalents as of Dec. 31, 2022. Cash used in operating activities for the quarter totaled $(111.1) million.
- Full-year 2022 total spending came in at $702 million, below the company’s anticipated range of $715 million – $790 million.
- EPS of $(0.54) missed the analyst consensus of $(0.42).
- Also Read: Why Fisker Stock Is Putting The Pedal To The Floor Monday Morning
- Outlook: Fisker maintains its 2023 production target of up to 42,400 units.
- The company expects FY23 capital expenditure of $245 million – $260 million.
- The company forecasts an 8-12% annual gross margin and potentially positive EBITDA for 2023.
- Price Action: FSR shares are trading higher by 27.82% at $7.26 on the last check Monday.
Modine Manufacturing Sees FY25 EPS $3.55-$3.85 Vs $3.81 Est.; Net Sales Growth Between 5%-10%
Fiscal 2025 Outlook:Net sales growth between 5% to 10%Adjusted EBITDA growth of 16% to 22%, resulting in an Adjusted EBITDA range of $365 million to $385 millionAdjusted earnings per share of $3.55 to $3.85"Our fiscal
