Midwest Energy Emissions Corp (OTCMKTS:MEEC) Stock On Radar After Q4 Earnings

Leading environmental technologies company Midwest Energy Emissions Corp (OTCMKTS:MEEC) was in focus on Monday after it announced its financial results for the fourth fiscal quarter and the full year of 2022. It should be noted that the numbers were unaudited. It could be a good idea for investors to take a look at some of the key highlights from the financial results.

Trading Data

On Monday, MEEC stock ended flat at $0.4000 with more than 184.10K shares, compared to its average volume of 66.31K shares. The stock moved within a range of $0.3950 – 0.4000 after opening trade at $0.4000.

ME2C Environmental Reports Fourth Quarter and Full Year 2022 Results, Achieves 66% Revenue Growth YoY

In the fourth quarter Midwest Energy Emissions Corp managed to bring in $5.7 million in revenues as opposed to $2.7 million in the prior year period. In the 2022 financial year the revenues came in at $21.6 million and that worked out to a year on year rise of as much as 66% from the $13 million in revenues in the previous fiscal year.

At the end of the fiscal year on December 31, 2022 the company had a cash balance of $1.5 million and working capital to the tune of $2.3 million. The management noted that the company’s strong performance in 2022 had been the result of a number of strategic efforts that had come to fruition and led to positive developments in a number of areas of the business.