Finance 

AmeraMex International Inc. (OTC: AMMX) Stock Corrects Following Q3 Earnings

Jon Williams

This morning most investors are going to be looking into stocks of those companies that may have been in the news cycle, and one of those was AmeraMex International Inc. (OTC: AMMX). Yesterday the company announced its financial results for the three-month and nine-month periods, both of which ended on September 30, 2024.

Key Takeaways

In the news release, AmeraMex International revealed that the revenues had gone up year on year by 61% in the quarter and by 34% in the nine-month period. However, the company revealed that the COGS (cost of goods sold) for the quarter also went up considerably in comparison to the previous quarter and the prior year quarter. AmeraMex International noted in the news release that one of the reasons for the rise in COGS was the reverse journal entry that had been made to the inventory.

The Numbers

The revenues for the quarter stood at $1.9 million as opposed to $1.2 million in the prior year period. AmeraMex International reported a loss of $1.4 million for the quarter, and that was a reversal from the profit of $199,328 in the prior year quarter in 2023. The loss per share in the third quarter was $0.07 as opposed to earnings of $0 per share in the prior year quarter.

Jon Williams

Jon graduated from the University of Michigan with a degree in finance. He is an avid investor and enjoys reporting on the markets. When he is not in front of a computer he enjoys playing golf and watching basketball.