Welcome to our dedicated page for TX Rail Products news (Ticker: txrp), a resource for investors and traders seeking the latest updates and insights on TX Rail Products stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect TX Rail Products's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of TX Rail Products's position in the market.
TX Rail Products, Inc. (OTC Markets PINK: TXRP), a supplier of rail products to the U.S. coal mining industry, short line railroads, and tunneling contractors, has engaged Griffith, De Laney, Hillman & Lett as its independent auditor. This PCAOB registered firm will audit TXRP's financial statements for the period ending September 30, 2024.
CEO Mr. Shrewsbury stated that this engagement is an important step towards uplisting TXRP's stock to a national exchange. He also mentioned the company's improving financial results and positioning for continued business improvements. Griffith, De Laney, Hillman & Lett is a boutique accounting firm based in the tri-state area of Kentucky, specializing in middle-market companies.
TX Rail Products, Inc. (OTC: TXRP), a supplier of rail products to the U.S. coal mining industry, short line railroads, and tunneling contractors, has engaged Hayden IR to lead its new strategic investor relations effort. The company aims to broaden awareness within investment communities and support its investor relations program. CEO Mr. Shrewsbury highlighted the company's solid financial results over the past two years and successful execution of their customer base diversification strategy. TX Rail Products aspires to uplist its stock to a national platform and believes this engagement will help communicate their success and plans more effectively to financial markets.
TX Rail Products, Inc. (OTC: TXRP) reported strong financial results for Q3 FY2024. Net income increased 63% year-over-year to $302,000, marking the ninth consecutive quarter of positive earnings. Despite a slight 1.3% revenue decline to $1.76 million, gross margin expanded to nearly 30% from 22% in the prior year. The company achieved this through reduced cost of goods sold, down 11.2% to $1.2 million.
Key highlights include:
- Operating expenses increased 12.3% to $222,000
- Cash and cash equivalents rose to $216,000 from $159,000 at FY2023 end
- Inventory increased 19.7% to $3.1 million due to higher product demand
- 418,084 shares repurchased at $17,000 net cost
The company plans to select a new audit firm, engage an investor relations firm, and aims to uplist to a national exchange.
TX Rail Products, Inc. reported financial results for the second quarter of the 2024 fiscal year, showing a revenue increase of 44.5% to $2,529,656 compared to the prior year. Net income also grew by $354,974 to $586,530. The company's CEO highlighted the consistent growth in revenues and profits. A common share buyback program was successful, repurchasing over 3 million shares. Operating expenses and gross profit margins saw improvements, while cash flow was impacted by increased accounts receivable and inventory due to higher sales. Financing activities resulted in an increase in cash provided, driven by a new line of credit and an additional loan for a delivery truck.