NASDAQ$ULBI
Ultralife Corporation · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Ultralife reported strong first quarter results driven by teamwork, gross margin improvement initiatives, and continued demand in core products.
Ultralife Corporation reported a strong first quarter with a 31.4% increase in sales, driven by growth in the medical market. Gross profit and operating income improved significantly, leading to GAAP EPS of $0.18 compared to a loss in the previous year. The company is optimistic about sustaining profitable growth and generating cash flow.
- Sales increased by 31.4% year-over-year, reaching $41.9 million, with a 54.7% growth in medical market sales.
- Gross profit increased to $11.5 million, representing 27.4% of revenue, compared to $7.4 million and 23.3% in the previous year.
- Operating income was $4.1 million, a significant improvement from breakeven in the first quarter of 2023.
- GAAP EPS was $0.18, compared to a loss of $0.02 for the 2023 first quarter.
Headline financials
Revenue & EPS history
Ultralife · Revenue · Quarterly
$41.9M
Revenue by segment
Ultralife · $7.6M total across 1 segment · Q3 2023
- Communications Systems$7.6M+61.7%100.0%
Forward guidance
The company anticipates additional organic growth opportunities through a healthy backlog and new product commercialization, while continuing to drive gross margin improvements and invest in new product development.
Tailwinds
- Healthy backlog.
- New product commercialization.
- Gross margin improvements.
- Investment in new product development.
- Positioned to sustain profitable growth.
Headwinds
- Uncertain global economic conditions.
- Reductions in revenues from key customers.
- Delays or reductions in U.S. and foreign military spending.
- Acceptance of our new products on a global basis.
- Disruptions or delays in our supply of raw materials and components.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
+0.1%
Avg return
Earnings day
+1.7%
Avg return
5 days after
+5.4%
Avg return
30 days after
46%
30 / 65 earnings
Positive
+56.6%
Q2 2023
Best reaction
-26.7%
Q2 2012
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -14.3% | -16.4% | -4.6% | |
| Q4 2025 | +8.3% | +22.9% | +28.5% | |
| Q3 2025 | -9.0% | -5.4% | +4.7% | |
| Q1 2025 | +2.9% | +13.1% | +57.8% | |
| Q4 2024 | -6.1% | -16.0% | -18.2% | |
| Q3 2024 | -14.3% | -16.5% | -18.3% | |
| Q2 2024 | -3.1% | -4.1% | -1.8% | |
| Q1 2024 | +30.5% | +34.0% | +29.4% | |
| Q4 2023 | +16.5% | +11.6% | +6.6% | |
| Q3 2023 | -22.3% | -19.3% | -18.2% | |
| Q2 2023 | +56.6% | +70.8% | +87.4% | |
| Q1 2023 | +3.6% | -1.2% | +4.9% | |
| Q4 2022 | +0.5% | -3.2% | -0.2% | |
| Q3 2022 | -4.6% | -7.1% | -15.4% | |
| Q2 2022 | -4.1% | -1.9% | +8.8% | |
| Q1 2022 | +6.4% | +3.9% | +7.1% | |
| Q4 2021 | -7.4% | -9.1% | +0.9% | |
| Q3 2021 | -9.3% | -7.4% | -19.9% | |
| Q2 2021 | -6.3% | -4.8% | -5.3% | |
| Q1 2021 | -1.4% | -3.5% | +14.0% | |
| Q4 2020 | +8.2% | +24.6% | +11.9% | |
| Q3 2020 | -9.8% | -6.5% | +20.1% | |
| Q2 2020 | +1.7% | +1.0% | -9.7% | |
| Q1 2020 | +7.6% | +19.7% | +19.3% | |
| Q4 2019 | +11.4% | +12.7% | +0.0% | |
| Q3 2019 | -7.1% | -5.5% | -6.4% | |
| Q2 2019 | +6.0% | -1.8% | -1.8% | |
| Q1 2019 | -18.1% | -23.2% | -30.0% | |
| Q4 2018 | +4.1% | +12.9% | +26.1% | |
| Q3 2018 | +10.9% | +9.7% | +8.4% | |
| Q2 2018 | -3.5% | -1.0% | -13.5% | |
| Q1 2018 | +3.3% | +0.0% | +12.1% | |
| Q4 2017 | +7.6% | +8.3% | +19.7% | |
| Q3 2017 | -14.3% | -12.2% | -12.9% | |
| Q2 2017 | -2.2% | -4.3% | -6.5% | |
| Q1 2017 | +7.2% | +6.3% | +20.7% | |
| Q4 2016 | -1.0% | +6.9% | +8.8% | |
| Q3 2016 | -7.8% | -8.9% | +6.7% | |
| Q2 2016 | -7.6% | -13.8% | -11.0% | |
| Q1 2016 | -11.0% | — | — | |
| Q4 2015 | -4.5% | — | — | |
| Q3 2015 | +5.3% | — | — | |
| Q2 2015 | +0.0% | — | — | |
| Q1 2015 | +1.5% | — | — | |
| Q4 2014 | +9.7% | — | — | |
| Q3 2014 | +5.7% | — | — | |
| Q2 2014 | -8.3% | — | — | |
| Q1 2014 | +7.2% | — | — | |
| Q4 2013 | -5.2% | — | — | |
| Q3 2013 | -4.5% | — | — | |
| Q2 2013 | -0.3% | — | — | |
| Q1 2013 | +1.8% | — | — | |
| Q4 2012 | +11.2% | — | — | |
| Q3 2012 | +5.9% | — | — | |
| Q2 2012 | -26.7% | — | — | |
| Q1 2011 | +0.5% | — | — | |
| Q1 2012 | -1.0% | — | — | |
| Q4 2011 | +0.6% | — | — | |
| Q4 2009 | +0.6% | — | — | |
| Q3 2011 | -3.0% | — | — | |
| Q3 2010 | -3.0% | — | — | |
| Q4 2010 | -0.2% | — | — | |
| Q2 2010 | -0.2% | — | — | |
| Q2 2011 | -0.2% | — | — | |
| Q1 2010 | +4.2% | — | — |
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