After-Hours Action: Why Ammo (POWW) Shares Are Surging

AMMO Inc POWW shares are trading higher in Wednesday's after-hours session after the company announced strong financial results that were significantly higher year-over-year.

Ammo said full-year fiscal 2022 revenue increased 285% year-over-year to $240.3 million. The company reported full-year adjusted earnings of 53 cents per share, which was up 651% year-over-year.

Gross profit margins increased to approximately 37%. Adjusted EBITDA totaled $75.5 million for the year, an 832% increase compared to the prior year.

"As impressive as this past year has been, we believe the opportunities in front of us are significant, both with the opening of our new manufacturing facility in July and several new revenue initiatives in our Marketplace business," said Fred Wagenhals, chairman and CEO of Ammo.

Ammo said it expects full-year fiscal 2023 revenue to be between $300 million and $310 million versus the estimate of $311.77 million, according to data from Benzinga Pro. Full-year 2023 EBITDA is expected to be between $82 million and $85 million, or between $108 million and $111 million on an adjusted basis.

POWW Price Action: Ammo has a 52-week high of $10.37 and a 52-week low of $3.52.

The stock was up 9.58% in after hours at $4.46 at press time.

Photo: tung256 from Pixabay.

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