AmeraMex Fourth Quarter Shaping Up with Over $4.0 Million in Revenue
Rhea-AI Summary
AmeraMex International (OTC Pink: AMMX) reports over $4.0 million in revenue for Q4 2024, with expectations to ship 13 more machines before year-end, making it the best quarter of the year. The company addressed a one-time reserve charge to inventory from Q3, explaining it as a contra-asset account established to account for potential losses in inventory value. CEO Lee Hamre indicates positive outlook for 2025 based on customer feedback following recent elections. The company provides heavy equipment solutions for logistics, infrastructure construction, and forestry conservation sectors.
Positive
- Q4 2024 revenue already exceeds $4.0 million
- Additional 13 machines expected to be shipped before year-end
- Q4 2024 projected to be the best quarter of the year
- Positive business outlook for 2025 based on customer feedback
Negative
- One-time reserve charge to inventory increased Cost of Goods Sold in Q3
News Market Reaction
On the day this news was published, AMMX gained 18.87%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Chico, California--(Newsfile Corp. - November 27, 2024) - AmeraMex International, Inc. (OTC Pink: AMMX), a provider of heavy equipment for logistics companies, infrastructure construction and forestry conservation, announced that it currently has over
AmeraMex CEO Lee Hamre commented, "During yesterday's shareholder's conference call, I was asked to give revenue guidance for the fourth quarter. We currently have booked over
During the Third Quarter Financial conference call, there was a discussion about a one-time reserve charge to inventory which, in turn, significantly increased the Cost of Goods Sold for the quarter. The following explanation will explain the situation:
The Inventory Reserve is a contra-asset account on a company's balance sheet. It is made in anticipation of inventory that will not be sold. An inventory reserve is established to account for potential losses in inventory value due to factors like damage, spoilage, obsolescence, or simply being unable to sell certain inventory. Essentially, it creates a buffer to prevent overstating the value of a company's assets on financial statements and is compliant with both SEC regulations and Generally Accepted Accounting Principles (GAAP).
The contra account changes each quarter. When inventory is lower, the adjustment is reduced when inventory is higher, the adjustment increases. Companies cannot guarantee that all parts and inventory can be sold, the assets (inventory) are reduced by a percentage so as not to overstate the company's position. This is a compromise used instead of writing off parts and machines that are old but at some point, may be sold.
Additionally, there was discussion regarding the financial statements for the Company's second quarter ended June 30, 2024. The statements are correct as stated. If there are additional questions, please call or email the Company's Investor and Media Relations Council.
AmeraMex International
AmeraMex International sells, leases, and rents heavy equipment to companies within multiple industries including construction, logistics, mining, and lumber. The company has over 30 years of experience in heavy equipment sales and service. Follow AmeraMex on Twitter @ammx_intl and visit the AmeraMex website, www.AMMX.net or www.hamreequipment.com for additional information and equipment videos.
Forward-Looking Statements
This press release contains forward-looking statements. All statements other than statements of historical facts included in this press release are forward-looking statements. In some cases, forward-looking statements can be identified by words such as "believe," "expect," "anticipate," "plan," "potential," "continue" or similar expressions. Such forward-looking statements include risks and uncertainties, and there are key factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Investors are encouraged to review the Company's filings with the OTC Markets. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons the actual results could differ materially from those anticipated in these forward-looking statements, even if added information becomes available in the future.
Investor and Media Relations
McCloud Communications, LLC
Marty Tullio, Managing Member
Office: 949.632.1900 or Marty@McCloudCommunications.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/231564
FAQ
What is AmeraMex's (AMMX) revenue for Q4 2024?
Why did AmeraMex (AMMX) have increased Cost of Goods Sold in Q3 2024?
What is AmeraMex's (AMMX) business outlook for 2025?
