Virco Mfg. Corporation’s Q2 Earnings Review
<p>Wedbush provided a recap of <a href='https://financialmodelingprep.com/financial-summary/VIRC'>Virco Mfg. Corporation’s (NASDAQ:VIRC)</a> Q2 results, announced last week. The company reported net sales of $82.8 million, an increase of 40.3% year-over-year. EPS came in at $0.60, beating the Street estimate of $0.43. </p>
<p>The analysts raised their price target to $9 from $8 as profitability in Q2 was better than expected. The company intends to implement a price increase for Q4 which, if successful, supports revenue growth and gross margins through the balance of 2024.</p>
<p>The analysts lowered their 2023 sales to $241 million from $252 million. 2023 gross margin moved to 35.1% from 30.5% which reflects Q2 results, last year's price increases, and a more stable input cost environment versus last year especially as it relates to steel prices which declined during Q2.</p>

NASDAQ:VIRC