Earnings call: CVD Equipment Corporation reports Q1 fiscal year 2024 results

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Earnings call: CVD Equipment Corporation reports Q1 fiscal year 2024 results

CVD Equipment Corporation , a leading provider of chemical vapor deposition systems, announced its financial results for the first quarter of the fiscal year 2024. The company reported a significant decrease in revenue compared to the same period last year, with first-quarter revenue coming in at $4.9 million, down 43% from $8.7 million in the first quarter of 2023.

InvestingPro Data shows a market capitalization of $30.03 million, reflecting the company's valuation in the market. Despite securing key orders, the company's stock has experienced a significant downturn, with a 1-week price total return of -8.9%. This could be indicative of investor sentiment following the reported decline in revenue and profitability metrics.

However, challenges are evident as the company is not profitable over the last twelve months, with a negative P/E ratio of -5.92 and an adjusted P/E ratio for the last twelve months as of Q1 2024 at -5.58. The gross profit margin stands at 17.19%, reinforcing the figures reported in the article and highlighting the company's struggle with profitability.

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