Ultralife Corp Down 13.37% To $7.97 After Earnings

Ultralife Corp (ULBI) said before open Thursday that it broke even in quarter three 2023.

In the same quarter a year ago, the company lost $0.01 per share on revenue of $33.2 million.

The stock is down 13.37% to $7.97 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Ultralife Corp a Bearish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 63. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

Ultralife Corp provides products and services ranging from power solutions to communications and electronics systems to customers across the globe in the government and defense, medical, safety and security, energy, and industrial sectors. The company design, manufacture, install and maintain power and communications systems including rechargeable and non-rechargeable batteries, charging systems, communications and electronics systems and accessories, and custom-engineered systems. The company's segments include Battery and Energy Products, and Communications Systems. It generates maximum revenue from Battery and Energy Products segment.