2 US mid-cap stocks that gained over 40% in a year - Kalkine Media

January 11, 2023 01:00 AM PST | By Mridul Gogoi
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  • Iridium Communications paid a quarterly dividend of US$ 0.13 per share.
  • NOV Inc posted a revenue of US$ 1.89 billion in Q3 2022.
  • Iridium’s GAAP net income (loss) in Q3 2022 was US$ 2.14 million.

The year 2022 was the worst for investors since 2008, and mid-cap stocks in the US also suffered throughout. It was only in the third quarter of the past year a few companies salvaged the loss incurred in the first two quarters.

Here, we take a look at two US mid-cap stocks and see how they have fared in the latest quarter

Iridium Communications Inc (NASDAQ: IRDM)

Iridium Communications is a provider of voice and data communications services. The company offers its products globally to government agencies including in the US. With a dividend yield of 0.877 per cent, Iridium paid a quarterly dividend of US$ 0.13 apiece.

Iridium registered third-quarter 2022 total revenue of US$ 184.06 million compared to US$ 162.15 million in Q3 2021.The company generated US$ 138.97 million as service revenue and US$ 45.1 million from equipment sales and engineering and support segment.

The company garnered total billable subscribers of 1,973,000 in Q3 2022, compared to 1,690,000 subscribers in the year-ago period.

The GAAP net income of the company in the third quarter of 2022 was US$ 2.14 million compared to a loss of US$ 2.08 million in the same quarter in 2021. In the reported quarter of 2022, the company bought back 1.8 million shares of its common stock, spending a total of US$ 80.2 million. The IRDM stock jumped 48.15 per cent YoY.


NOV Inc. supplies equipment and products for the oil and gas drilling industry. Some of its key products include downhole tools, drill pipes, and well casing. NOV has a global presence. The company has a dividend yield of 0.875 per cent and paid a quarterly dividend of US$ 0.05 per share.

NOV Inc. reported a revenue of US$ 1.89 billion in the third quarter of 2022, up 41 per cent year-over-year (YoY). The company's gross profit in Q3 2022 was US$ 368 million versus US$ 185 million in the year-ago quarter.

Meanwhile, the net income  was reported at US$ 35 million compared to a loss of US$ 65 million in the same quarter a year earlier. The NOV stock gained 54.53 per cent YoY.

NOV Inc. Q3 revenue and net income (2022 v 2021)Source: ©Kalkine Media®; © Canva via Canva.com

Bottom line:

As an investor, you might diversify your portfolio and take the long-term route of investing when the market is volatile and bearish. It is generally a wait-and-watch period until the market comes back to normal. Conduct thorough research before entering the equities markets.


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