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Why the EVZ (ASX:EVZ) share price shot up 70% this morning // Motley Fool Australia
Engineering services group EVZ Limited (ASX: EVZ)‘s shares are on the move after the company issued an earnings guidance for the first half of FY21 this morning. Immediately after the announcement, the EVZ share price surged by 7.5 cents to 18.5 cents, representing a gain of almost 70%.
What made the EVZ share price shoot the moon?
In the announcement, EVZ forecast earnings before interest, depreciation and amortisation (EBITDA) of between $3 million to $3.5 million for the six months ending 31 December 2020. The company predicts revenue to finish between $30 million and $32 million.
EVZ says that the forecast is a significant improvement on the disappointing results posted for the corresponding period in FY20, when it posted a…
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