Phoenix Motor Reiterates Guidance For Q1 2024. The Company Expects To Report $9.4M In Revenue For Q1 Up From $1.8M YoY, Exceeding The Previously Issued Guidance Range Of $8M-$9M. Expects To Report Record Gross Profit And Record Net Income For Q1 2024

Author: Benzinga Newsdesk | September 09, 2024 04:22pm

Phoenix Motor Inc. (NASDAQ:PEV), a leading manufacturer of heavy-duty transit buses and electrification solutions provider for medium-duty vehicles, today reiterated its guidance for the first quarter of 2024. The Company expects to report a record $9.4 million in revenue for the first quarter, exceeding the previously issued guidance range of $8 million to $9 million. The record quarterly revenue represents a significant increase from the $1.8 million recorded in the first quarter of 2023, which was the company's previous record revenue quarter. Phoenix Motor also expects to report record gross profit and record net income for the first quarter of 2024.

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