What's Going On With Tritium Shares Today?

Tritium DCFC Limited DCFC shares are trading higher today after the company reported its full-year 2022 preliminary sales and issued full-year 2023 sales guidance.

Tritium reported its preliminary sales on Tuesday for the full year 2022. The company achieved record revenue in the range of $95-$102 million, with $72 million received between the six months of June 30th, 2022, and December 31st, 2022.

In 2023, the company expects revenue in excess of $200 million, bolstered by a record $159 million order backlog. Gross margins are expected to improve throughout 2023, averaging between 10% and 12%.

Tritium also announced that it had secured its largest order from a single customer in company history with a new order from BP.

Jane Hunter, CEO of Tritium, states, “2022 was a foundational year, putting many of the building blocks in place to deliver our long-term competitive strategy.”

Tritium DCFC Ltd designs and manufactures proprietary hardware and software to create advanced and reliable DC fast chargers for electric vehicles.

According to data from Benzinga Pro, Tritium DCFC Ltd. shares were up 16.4%, trading at $1.73 at the time of publication. It had a 52-week high of $19.75 and a 52-week low of $1.0315.