Profile
Sector:
Consumer CyclicalIndustry:
Furnishings, Fixtures & AppliancesCountry:
United StatesIPO:
18 March 1980Website:
http://www.virco.comNext earnings report:
06 December 2024Last dividends:
20 September 2024Next dividends:
N/APrice
after hours | Fri, 01 Nov 2024 21:16:25 GMTAnalysts recommendations
Institutional Ownership
VIRC Latest News
Virco's 2Q25 revenues surprised positively, despite a declining backlog, due to improved order processing and continued disaster relief shipments. Management is cautious about future trends, removing the 'shipments plus backlog' figure and warning of post-pandemic recovery uncertainties. Higher shipping costs could benefit Virco by increasing competitors' costs, but the fading ESSER stimulus poses a revenue risk.
Virco Mfg. Corporation (VIRC), Brady Corporation (BRC), Broadcom Inc. (AVGO) and Verizon Communications Inc. (VZ) recently announced dividend hikes.
VIRC's second-quarter fiscal 2024 results benefit from higher factory output and improved operating efficiencies, along with a significant counter-seasonal disaster recovery order.
TORRANCE, Calif., Sept. 09, 2024 (GLOBE NEWSWIRE) -- Virco Mfg. Corporation (NASDAQ: VIRC), a leading manufacturer and supplier of movable furniture and equipment for educational environments, announced results for the Company's Second Quarter and first six months ended July 31, 2024.
Virco Mfg. Corporation VIRC has seen its shares rise steadily, rallying 30.9% in the past three months, outperforming the Zacks Furniture industry's 13.3% growth. The broader Consumer Discretionary sector rose 3.9% and the S&P 500 grew 7.1% in the same time frame.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Investors who want to buy stocks in July and the second half of 2024 might want to start by looking at Zacks Rank #1 (Strong Buy) stocks--improving earnings outlook--that are efficiently generating profits.
Virco posted significant revenue growth, at 33%, with gross and operating margin expansion. However, a big part of that growth was generated by a less recurring disaster relief project. Without it, revenues would have grown 8%. Looking ahead, the company's backlogs and inventories continue to shrink. These are not good indicators for the 2Q and 3Q busy seasons.
Virco's (VIRC) first-quarter fiscal 2024 results reflect solid contributions from an individual disaster relief and recovery project, along with its domestic U.S. operations.
Virco Manufacturing Corporation (VIRC) came out with quarterly earnings of $0.13 per share, beating the Zacks Consensus Estimate of a loss of $0.13 per share. This compares to loss of $0.09 per share a year ago.
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What type of business is Virco Mfg?
Virco Mfg. Corporation engages in the design, production, and distribution of furniture in the United States and Canada. The company offers seating products, including 4-leg chairs, cantilever chairs, mobile task chairs and lab stools, tablet armchairs, steel-frame and floor rockers, series stools, hard plastic seating, folding and upholstered stack chairs, and plastic stack and upholstered ergonomic chairs. It also provides activity, butcher block, folding, office, technology, and mobile tables; desks and workstations, and instructor media stations and towers; chair desks and combo units, tablet arm and caster units, mobile workstations, student desks, and returns and credenzas; and computer furniture solutions. In addition, the company provides administrative office furniture, including desks, returns, bookcases, and other items, as well as steel storage cabinets, wardrobe tower cabinets, file credenzas, and mobile pedestals; laboratory furniture comprising steel-based science tables, table bases, lab stools, and wood-frame science tables; mobile furniture, such as mobile tables, mobile cabinets, and mobile chairs for school settings and offices; and handling and storage equipment, and stackable storage trucks. It serves public and private educational institutions, charter schools, convention centers and arenas, hospitality providers, government facilities, and places of worship through its sales and support teams, and dealers' network. Virco Mfg. Corporation was incorporated in 1950 and is headquartered in Torrance, California.
What sector is Virco Mfg in?
Virco Mfg is in the Consumer Cyclical sector
What industry is Virco Mfg in?
Virco Mfg is in the Furnishings, Fixtures & Appliances industry
What country is Virco Mfg from?
Virco Mfg is headquartered in United States
When did Virco Mfg go public?
Virco Mfg initial public offering (IPO) was on 18 March 1980
What is Virco Mfg website?
https://www.virco.com
Is Virco Mfg in the S&P 500?
No, Virco Mfg is not included in the S&P 500 index
Is Virco Mfg in the NASDAQ 100?
No, Virco Mfg is not included in the NASDAQ 100 index
Is Virco Mfg in the Dow Jones?
No, Virco Mfg is not included in the Dow Jones index
When was Virco Mfg the previous earnings report?
No data
When does Virco Mfg earnings report?
The next expected earnings date for Virco Mfg is 06 December 2024