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Infrastructure & Energy Alternatives Outperforms As Earnings Top Estimates
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Infrastructure & Energy Alternatives Inc (NASDAQ:IEA) continues to outperform the overall stock market, amid strong demand for renewable energy. The stock is already up by more than 180% after bottoming out following the March 23 COVID-19-triggered market crash.
The rally has coincided with an uptick in investors' confidence in response to impressive Q2 earnings. The quarter's revenue was up 46% to $480 million as gross margin improved 170 basis points to 11.3%. Adjusted EBITDA improved 90.8% to $39.3 million.
According to the Chief Executive Officer, the impressive earnings can be attributed to, among other things, focus on expense management as well as efforts on preserving capital. Similarly, the company has secured a $77 million contract for the construction of a solar farm in Texas.
Titan Medical Resilient Amid NASDAQ Receipt
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Titan Medical Inc. (NASDAQ:TMDI) is up by more than 5% for the year and up by more than 158.62% over the past quarter, despite facing a number of challenges owing to the COVID-19 pandemic. The company has already been hit by a receipt of deficiency from the NASDAQ on its stock price tanking below the required $1 a share level.
The company is coming off a second-quarter, whereby it achieved significant milestones key among them being the execution of a license and development agreement with Medtronic plc. Consequently, the company received $10 million license payment
The company also completed a registered direct offering, conversely raising $18 million in gross proceeds. The capital injection has allowed the company to enhance the development of instruments as part of its single robotic surgical system.
Summer Infant Cost Reduction Efforts Payoff
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Summer Infant, Inc. (NASDAQ:SUMR)rallied 160.38% over the past quarter as investors reacted to steps taken to reduce costs, streamline operations and improve overall performance in the aftermath of the COVID-19 pandemic.
Similarly, the company posted earnings of $1.3 million or $0.61 a share despite its revenues tanking to $38.2 million from $46.4 million reported a year earlier. While COVID-19 continued to take a toll on the company's revenue base through supply chain constraints, operational costs fell 20%, and the company generated $9.6 million in cash from operations.
Likewise, the Summer Infant succeeded in reducing debt to its lowest level. Similarly, the company is well-positioned to finish the year on a high note.
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COMTEX_370474656/2700/2020-09-01T08:18:35
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