By Stephen Nakrosis
Shares of Gauzy were trading lower after the vision and light control solutions company offered third-quarter revenue guidance which was below some analysts' expectations.
After the bell Thursday, the company's shares were trading 6.9% lower, at $8.99. The stock finished the day at $9.66, closing with a 2.7% loss.
Gauzy shares started trading publicly in June, with a $17 per share initial public offering.
After the bell, the company said it was expecting third-quarter revenue in a range of $23 million to $23.5 million, compared to $18.7 million reported in the year-ago period. Analysts said they are expecting revenue of $27.5 million, according to FactSet.
For the fourth quarter, Gauzy said, it is expecting revenue in a range of $28 million to $34 million compared to $22 million reported in the fourth quarter of 2023.
The company also said it was adding a second production shift in Lyon, France, to expand overall capacity and meet continued strong demand.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
October 31, 2024 17:04 ET (21:04 GMT)
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