Charge Enterprises Inc - CRGE STOCK NEWS

Charge Enterprises, Inc. (Nasdaq: CRGE), led by CEO Andrew Fox, discussed its business on Nasdaq TradeTalks on August 26, 2022. Fox mentioned a $600 million revenue run rate, which was not a forecast but a reference based on the company's $344 million revenue for the first half of 2022. Charge focuses on telecommunications and electric vehicle charging infrastructure. The company aims to expand its offerings in both sectors, emphasizing its commitment to future growth while acknowledging the risks associated with market acceptance and regulatory changes.

Charge Enterprises (NASDAQ:CRGE) reported robust growth in its mid-year 2022 shareholders' letter. The company achieved revenues of $344 million, reflecting a 43% increase year-over-year, alongside a gross margin growth of $13.8 million. Charge improved its corporate governance with appointments to its board and partnerships with Ernst & Young for auditing. The company successfully raised $21 million in capital to enhance its EV charging and broadband infrastructure operations, aiming to become a leading provider in these industries.

Charge Enterprises, Inc. (Nasdaq:CRGE) announced that CEO Andrew Fox will participate in Nasdaq TradeTalks on August 26, 2022, at 1:30 PM ET. During the segment, Fox will discuss the company's initiatives in 5G Wireless Networks and EV Charging Infrastructure. This appearance is part of Charge's ongoing effort to enhance its visibility in rapidly growing sectors such as telecommunications and electric vehicle infrastructure. The company aims to strengthen its presence in these markets through innovative solutions and services.

Charge Enterprises (NASDAQ:CRGE) announced its collaboration with Connected Kerb for a pilot project in New York City focusing on scalable EV charging infrastructure. This initiative, supported by the NYC Department of Transportation and Newlab, aims to advance the city’s sustainability goals, including 10,000 curbside chargers by 2030. Charge Infrastructure will provide end-to-end services for this project, enhancing EV adoption in urban settings. The collaboration addresses significant transportation emissions, seeking to improve public health while promoting electric vehicle usage.

Charge Enterprises (CRGE) reported second quarter 2022 revenues of $181.0 million, a 40% increase from the previous year. Gross margin more than tripled to $7.3 million from $2.2 million in 2021. The growth was attributed to expanded orders in Telecommunications and EV Infrastructure sectors, supported by recent acquisitions. Despite increased revenue, the company reported a net loss of $19.6 million, up from $10.1 million a year earlier, largely due to increased operational expenses. The company remains focused on becoming a leading provider in the EV and 5G infrastructure markets.

Charge Enterprises (Nasdaq:CRGE), a leader in telecommunications and EV charging infrastructure, announced its participation in the 11th Annual Needham Virtual Industrial Tech, Robotics, & Clean Tech Conference on August 5 and 8, 2022. Founder and CEO Andrew Fox will discuss the company's role in 5G Wireless Networks and EV Charging during a panel on August 8 at 10 a.m. ET. Investors can schedule one-on-one meetings on August 5 and 8. Charge aims to advance infrastructure for electric vehicles while adhering to opportunities presented by the Inflation Reduction Act.

Charge Enterprises (NASDAQ:CRGE) announced that its subsidiary, BW Electrical Services, received significant certification renewals in New Jersey. These certifications enable BW to maintain an open-contract backlog of up to $250 million, facilitating expansion into larger projects. This recognition underscores BW's reputation for quality in electrical installations. Charge focuses on electric vehicle charging infrastructure and telecommunications, aiming to capitalize on growing sectors.

Charge Enterprises, Inc. (Nasdaq:CRGE) announced on July 18, 2022, that its subsidiary, ANS Advanced Network Services LLC, secured five contracts worth $9.1 million for a distributed antenna system and data-center expansions. The projects span New York, Connecticut, Pennsylvania, and Ohio for a Tier 1 cellular service provider. Completion dates are set for the end of 2022 and 2023. CEO Andrew Fox highlighted the importance of these contracts, reflecting strong client relationships and growth prospects in infrastructure services.

Charge Enterprises (CRGE) has been added to the Russell 3000, Russell 2000, and Russell Microcap indexes effective June 27, 2022. This inclusion follows the recent Nasdaq listing, enhancing visibility to institutional investors. Membership provides automatic inclusion in large-cap and small-cap indexes, facilitating broader investment opportunities. Approximately $12 trillion in assets track these indexes, indicating significant market impact and opportunities for Charge as it continues to focus on EV charging and 5G infrastructure for sustainable revenue growth.