Kelso Technologies Reports Financial Results for 2024 Amid Industry Challenges

Story Highlights
  • Kelso Technologies saw a 2% revenue drop in 2024 but improved its gross profit margin.
  • The company plans for stable growth in 2025, focusing on cost discipline and strategic ventures.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
Kelso Technologies Reports Financial Results for 2024 Amid Industry Challenges

The latest announcement is out from Kelso Technologies ( (TSE:KLS) ).

Kelso Technologies Inc. reported a slight decrease in revenue for the fiscal year 2024, down by 2% to $10.68 million, yet managed to increase its gross profit margin to 44% due to effective expense reduction strategies. Despite facing challenges from weak tank car demand, the company incurred a significant loss of $4.6 million due to one-time expenses and write-offs. Looking ahead, Kelso anticipates flat to slightly positive sales growth in 2025, with a focus on cost discipline to prepare for an expected increase in tank car builds in 2026/2027. The company is also exploring strategic options to enhance shareholder value, particularly through potential joint ventures related to its KXI HD system technology.

More about Kelso Technologies

Kelso Technologies Inc. operates in the transportation equipment industry, focusing on the production of tank car components. The company is known for its innovative solutions designed to enhance the safety and efficiency of rail transportation.

YTD Price Performance: 21.11%

Average Trading Volume: 38,936

Technical Sentiment Signal: Buy

Current Market Cap: $5.97M

For detailed information about KLS stock, go to TipRanks’ Stock Analysis page.

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