--News Direct--
McapMediaWire -- Publicly traded Titan NRG, Inc. (OTC: TTNN) ("Titan NRG") operating as a downstream energy and transportation holding company through its wholly-owned subsidiaries, releases the third quarter report for the fiscal year 2022.
“We had a record month in December for NRG Dynamics LLC. and it’s adding to a record third quarter in revenue. Third quarter 2022 outpaced the third quarter of 2021 by a hefty margin with our trucking division showing a 47% increase in revenues year over year.,” said Alex Majalca Jr., Titan NRG’s President, and CEO. “We’re focusing on an acquisition-driven growth model as new equipment prices are soaring, and interest rates continue to rise.”
Third Quarter Fiscal 2022 Highlights
- $ 2,823,541 in total revenue for Quarter 3
- $ 1,015,492 in gross profits
- $ 710,985 in Accounts Receivable
- $ 2,159,270 in capital assets (before depreciation)
- 47% increase in revenue in trucking
- $6,285,149 in Receipts from Customers for Nine Months ended Dec 31st
- Earning Per Share turned positive for the 1st time at .00134
Quarterly Report - Quarter ended December 31, 2022, can be seen on the OTC website:
https://www.otcmarkets.com/otcapi/company/financial-report/359164/content
Contact:
Alex R. Majalca Jr.
President/Chief Executive Officer
Titan NRG, Inc.
About Titan NRG Inc.: Titan NRG is a holding company that operates as a downstream energy and transportation company through its wholly-owned subsidiaries. NRG Dynamics currently has 25+ transports operating in 9 states. APE Fuels offers retail and commercial propane serving southern AZ with 1500+ leased tanks and 2500+ customers. Vespene with wholesale purchasing and sales of LPG products. NRG Rail has a long-term lease on a new 18 car rail facility in Tucson, Arizona with an approved and permitted 1.2 mm gallons of propane/butane storage. NRG Equipment operates as an equipment leasing company.
We're focused on vertical integration while expanding our operations to cover everything from the refinery to retail. This business model is a win for our customers, company, and shareholders. Additionally, this model can be replicated in other regions.
NOTES ABOUT FORWARD-LOOKING STATEMENTS
Safe Harbor Statement: This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with OTC Markets. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contact Details
Titan NRG Inc.
Company Website
View source version on newsdirect.com: https://newsdirect.com/news/titan-nrg-inc-ttnn-releases-2022-third-quarter-report-with-record-revenues-311423513
