Coda Octopus Q3 Revenue Beats on 68% Defense Surge, EPS Rises to $0.12
CODA sits 38% above its 52-week low of $7.61.
Summary
Coda Octopus reported fiscal Q3 revenue of $7.70M, beating the $7.26M consensus, with adjusted EPS of $0.12 versus $0.11 a year ago. The beat was driven by a 68% surge in Defense Engineering Services, offsetting a 15% decline in Marine Technology due to Middle East disruptions. Management sees robust demand in U.S. defense repairs and sustainment, with long-term growth from electronic warfare programs. The stock trades at 18x forward earnings versus 21x three months ago, and analysts maintain a buy rating with a $14 median price target. This is the first news report of the quarter's results, following the 10-Q filed earlier today.
At the time of this announcement, CODA was trading at $10.49 on NASDAQ in the Technology sector, with a market capitalization of approximately $113M. The 52-week trading range was $7.61 to $17.28. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.