Twin Vee Powercats Co Stock Price, News & Analysis

Twin Vee PowerCats, a leading manufacturer of power sport catamaran boats, is set to host its inaugural Owners Appreciation and Sales Event on May 6, 2023, at its headquarters in Fort Pierce, Florida. The event will run from 10:00 am to 4:00 pm and aims to celebrate and thank shareholders and boat owners for their support. Attendees can tour the factory, see current boat models, and enjoy activities including raffles, games, and live music. Special pricing on boats will be available, along with opportunities for sea trials. As space is limited, interested participants must reserve a spot via the company's Event Page.

This family-friendly event promises a fun-filled day with free food from Big Worm's BBQ and is a unique chance to experience why Twin Vee is known for producing the best riding boats on the water.

Twin Vee PowerCats Co. (NASDAQ:VEEE) is moving forward with its planned factory expansion following approval from the Fort Pierce City Commission. The expansion will include a new 23,456-square-foot building and a 4,389-square-foot covered awning, resulting in a total manufacturing facility size of 95,000 square feet.

The CEO, Joseph Visconti, stated that the new facility will allow for an additional manufacturing line, improving production output for both Twin Vee and LFG Marine boats without disrupting current workflows. Construction is expected to begin soon and be completed by the end of the year, with no anticipated reduction in the manufacturing schedule during this period.

This expansion aims to unlock growth potential and increase the company's capacity to serve both new and existing markets across the U.S.

Twin Vee PowerCats, Co. (NASDAQ:VEEE) has launched the 280 Dual Console Go Fish X (GFX), targeting both families and fishing enthusiasts. CEO Joseph Visconti highlighted the boat's spacious design, accommodating large groups, and its focus on comfort and functionality. The new model features a wide U-shaped lounge, modern upholstery, and a clear helm with a curved glass windshield. It can be outfitted with twin 250 HP or 300 HP outboard motors, making it versatile for fishing or leisurely outings. Twin Vee's past successes include recognition for their 28-foot Center Console, with the Company continuously aiming to enhance its product line to broaden appeal and uphold its reputation for performance and efficiency.

Twin Vee PowerCats Co. (NASDAQ:VEEE) announced a remarkable 103% increase in net revenue for the year ended December 31, 2022, reaching approximately $31.99 million. The company launched new models, expanded its dealer network by adding 19 locations, and signed a key agreement with One Water. Successfully completing a $6.75 million secondary offering, they maintain strong liquidity with over $23.5 million in cash and no long-term debt. However, the company reported a net loss from operations totaling approximately $5.79 million across its business segments. Plans for a significant factory expansion and improved manufacturing processes are underway, aiming to bolster efficiency and production.

Twin Vee PowerCats, Co. (Nasdaq:VEEE) will host a conference call on March 29, 2023, at 10:00 a.m. ET to discuss its Year End 2022 financial results. A press release detailing the financial highlights will be issued prior to the call. Interested participants can join via toll-free number or audio webcast. Twin Vee, based in Fort Pierce, Florida, is a well-established manufacturer of power sport catamaran boats with nearly 30 years of experience. The company is recognized for its high-quality products in the boating industry.

Twin Vee PowerCats Co. (Nasdaq:VEEE) announced that initial orders for its new 22-foot center console boat have exceeded expectations, receiving acclaim from national boat clubs and dealers. The company aims to produce over ten boats monthly with increased resources for the LFG Marine brand to meet demand. CEO Joseph Visconti highlighted the opportunity to capture underserved markets with affordably priced, high-quality boats amid rising manufacturing costs in the recreational marine market. LFG Marine plans to develop a modern lineup of boats to cater to various customer needs while maintaining high service levels.

Twin Vee PowerCats (Nasdaq:VEEE), a manufacturer of power sport catamaran boats, will attend the Freedom Boat Club's Freedom Forum 2023 from February 19-24 in Cape Coral, Florida. The company plans to showcase its new 220 Center Console from its brand LFG Marine and offer sea trials to over 600 franchisees and guests. Freedom Boat Club is the oldest and largest boat club in the nation, boasting over 50,000 members. This event focuses on sales, marketing, and operational training for franchisees.

Twin Vee PowerCats (NASDAQ: VEEE) has launched LFG Marine, a new brand focused on producing versatile monohull boats for freshwater and saltwater markets. The initial offerings include a 22' Center Console and various dual console models, appealing to first-time boat buyers. The 220 LFG Center Console features a fuel tank of 90 gallons and customizable options for personalization. Twin Vee aims to expand its dealership network in key freshwater regions and anticipates generating revenue from sales by the end of Q1 2023. The launch aligns with current trends in the recreational marine industry, suggesting a healthy demand for entry-level boating options.