Redwire Q2 Revenue Surges 90% to $117M, Record Backlog Drives 14% Rally
RDW has more than doubled off its 52-week low of $4.87.
Summary
Redwire posted Q2 revenue of $117.07M, up 89.6% YoY and well above the $107.3M consensus. EPS missed by 4 cents, but the top-line beat and record $542.1M backlog are driving the stock up 14%. Management reaffirmed full-year revenue guidance of $450M-$500M, citing strong first-half execution. This follows a series of large insider sales and a new $500M ATM program launched in June, making the operational strength a key counterpoint. Cantor Fitzgerald raised its target to $13.50 and Jefferies to $24, adding to the positive sentiment.
At the time of this announcement, RDW was trading at $11.80 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $2.8B. The 52-week trading range was $4.87 to $26.64. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Benzinga.