TSXV:ESTW.H - Post by User
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waves1on Aug 24, 2022 3:24pm
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Q2 2022 financial results & operating highlights from ESTW
Q2 2022 financial results & operating highlights from ESTWEasTower Wireless ($ESTW.v) reported its Q2 2022 financial results and operating highlights for the three & six months ended June 30, 2022 ESTW has been experiencing an abundance of contracts and purchase orders from major telecoms, OEMs and turf vendors, and has reported significant revenue growth YTD as a direct beneficiary of the substantial demand for 5G buildout across the US Q2 2022 Highlights - Total revenue increased by 55% to $363K
- Cost of sales decreased by 21% to $164K
- Gross profit was $199K, an increase of $172K
YTD highlights - Total revenue increased by 28% to $788K
- Cost of sales decreased by 3% to $370K
- Gross profit increased by 78% to $428K
Operational Highlights - Won additional new site builds from the largest national owned and operated tower company in the US
- Signed an MSA with one of the largest owned and operated tower companies in the world
With its focus remaining on scaling its business through additional crew counts to address the high demand of work experienced, ESTW is "confident that the second half of the year will experience strong growth over the first six months of the year due to the increased customer base and increase in the implementation of additional crews." https://ca.finance.yahoo.com/news/eastower-wireless-reports-q2-2022-113000033.html