Raven Industries, Inc. (the Company; NASDAQ:RAVN) today
reported financial results for the second quarter that ended July
31, 2020.
Second Quarter Fiscal 2021 Noteworthy Items
- Net sales in Applied Technology increased nearly 30 percent
versus the prior year, leading to an increase in division profit of
over 34 percent;
- Aerostar achieved year-over-year revenue growth despite limits
on conducting customer flight campaigns as a result of the
Department of Defense travel restrictions that were in place for
much of the quarter;
- Company generated $11 million in free cash flow1 through
improved working capital management;
- Applied Technology generated $7 million in operating profit on
a reported basis, including the investment of $4 million in
autonomy-related research and development and selling activities
for Raven Autonomy™;
- Company acquired full voting control of DOT Technology Corp.
(DOT®), enabling an acceleration in the development of the Dot®
platform;
- Engineered Films was awarded a $4.8 million contract from the
Federal Emergency Management Agency (FEMA) for the delivery of
film-based medical supplies;
- Engineered Films' net sales declined 37 percent as the global
pandemic is temporarily having an adverse impact on the markets
served by the division.
Second Quarter Results
Consolidated net sales for the second quarter of fiscal 2021
were $85.2 million, down 13.1 percent versus the second quarter of
fiscal 2020. Growth in Applied Technology and Aerostar was more
than offset by a decline in Engineered Films. Applied Technology
generated significant year-over-year growth despite reduced OEM
production as demand for its industry-leading technology was
strong. Engineered Films' end-markets continued to experience
adverse demand conditions as a result of the pandemic, resulting in
lower sales in all end-markets served by the division. In Aerostar,
the year-over-year growth in net sales was driven primarily by
aerostat deliveries on its current contract.
Consolidated operating income for the second quarter of fiscal
2021 was $6.1 million, versus operating income of $10.6 million in
the second quarter of fiscal 2020, decreasing 41.9 percent
year-over-year. Included in the results for the second quarter of
fiscal 2021 was $4.0 million of product and market development
related expenses associated with the Company's investment in Raven
Autonomy™.
Net income for the second quarter of fiscal 2021 was $5.8
million or $0.16 per diluted share, compared to $8.8 million, or
$0.24 per diluted share, in last year's second quarter. The
Company's investment in Raven Autonomy™ reduced net income
attributable to Raven by $3.1 million, or $0.09 per diluted share,
in the second quarter of fiscal 2021. Earnings in the second
quarter of fiscal 2021 were strong, especially when taking into
consideration the Company's proactive and substantial investment in
Raven Autonomy™ as well as the negative impacts associated with the
pandemic.
Balance Sheet and Cash Flow
At the end of the second quarter of fiscal 2021, cash and cash
equivalents totaled $15.8 million. In the second quarter, the
Company acquired the remaining voting control of DOT® for $17.9
million in cash consideration and generated $10.7 million in free
cash flow1 by reducing net working capital. Overall liquidity at
the end of the second quarter totaled $115.8 million.
Applied Technology Division
Net sales for Applied Technology in the second quarter of fiscal
2021 were $35.5 million, increasing $8.1 million, or 29.7 percent
versus the second quarter of the prior year. Despite adverse
economic conditions and declines in OEM production, Applied
Technology leveraged its new products and strong customer
relationships to drive year-over-year revenue growth. In addition,
the division strategically exited a commercial relationship,
resulting in a last-time buy that also benefited the quarter's
sales results. Net sales, excluding this last-time buy benefit,
still increased meaningfully year-over-year.
Division operating income in the second quarter of fiscal 2021
was $6.5 million, up $1.7 million or 34.3 percent versus the second
quarter of fiscal 2020. The increase in division profit was driven
by increased sales volume and the associated positive operating
leverage, partially offset by the division's $4.0 million
investment in Raven Autonomy™ during this year's second
quarter.
Engineered Films Division
Net sales for Engineered Films in the second quarter of fiscal
2021 were $36.3 million, down $21.3 million or 37.0 percent
year-over-year. In the second quarter, economic conditions
resulting from the pandemic led to weak end-market demand across
all of Engineered Films' markets, with the geomembrane (including
the energy sub-market) and construction markets experiencing
substantial declines. Rig counts in the Permian Basin were down 70
percent versus the second quarter of fiscal 2020, leading to a
decline in sales in the geomembrane market. Additionally, the
geomembrane and construction markets faced difficulties as
large-scale projects were delayed due to the pandemic. Partially
offsetting the decline in geomembrane was $2.4 million of revenue
associated with a $4.8 million FEMA contract to supply film-based
medical supplies to aid in the pandemic response. The remaining
$2.4 million in revenue is expected to be realized in the third
quarter of fiscal 2021.
Division operating income in the second quarter of fiscal 2021
was $4.5 million, down $5.7 million or 56.0 percent versus the
second quarter of fiscal 2020. The decline in operating income was
driven by negative operating leverage resulting from the sharp
decline in revenues. While expenses and staffing levels were
adjusted downward during the quarter, these actions were not enough
to fully offset the significant impact from the lost operating
leverage.
Aerostar Division
Net sales for Aerostar in the second quarter of fiscal 2021 were
$13.5 million, up $0.3 million or 2.1 percent versus the second
quarter of fiscal 2020. The year-over-year growth was driven by the
delivery of systems on its current aerostat contract that was
awarded in fiscal 2020. Department of Defense travel restrictions
remained in place for the first two months of the quarter, delaying
Aerostar from executing on certain flight-based contracts. Once
these restrictions were lifted at the end of June, the division
resumed its customer flight campaigns during the last month of the
quarter and is on pace for strong performance throughout the second
half of the fiscal year.
Division operating income in the second quarter of fiscal 2021
was $1.8 million, down $1.2 million or 40.5 percent versus the
second quarter of fiscal 2020. The year-over-year performance was
driven by a shift in product mix and increased investments in the
division's stratospheric platforms and radar systems that will
drive long-term growth.
Update on Strategic Platforms for Growth
During the second quarter, the Company closed on the transaction
to acquire the remaining voting control of DOT® for $17.9 million.
Full control is enabling acceleration in the development of the
Dot® platform.
The Company continued to progress the capabilities of its core
technology, and during the second quarter completed significant
enhancements to Applied Technology's VSN® Visual Guidance System.
These advancements, which include full canopy guidance and
automatic row turnaround, are additional steps toward a
fully-autonomous solution. This technology frees the driver from
steering and generates a strong return on investment for its
users.
At the beginning of the year, the Company intended to
commercialize the Dot® and AutoCart® products during fiscal 2021,
with AutoCart® expected to be released in advance of the fall
harvest. In the second quarter, as a result of challenges arising
from the pandemic, the Company made the decision to delay the full
commercialization of its autonomous platform technology. While the
reception regarding the Company's bold investments in autonomous
technology has been very positive and has led to strengthened
relationships with the division's strategic partners, additional
testing and further development will be conducted over the coming
months to ensure the products meet the quality and performance
standards upon which Applied Technology is built.
In the second quarter, the Company made the decision to restart
its investment in Raven Composites™ as Engineered Films' end
markets began to show signs of stabilization. The Company expects
to invest approximately $10 million to advance greenfield
operations in the third quarter of fiscal 2021 and has also
restarted its pursuit of acquisitions to augment its strategy to
deliver thinner, lighter and stronger rigid composite
materials.
Aerostar is the leader in stratospheric platform technology, and
its investments are leading to new capabilities for its Thunderhead
Balloon Systems that hold significant growth potential. The
Thunderhead Balloon System is an industry leading technology
platform that provides navigation and persistent coverage for
payloads in the stratosphere, creating new capabilities for the
aerospace and defense industry. The division continues to work
closely with agencies within the Department of Defense as solutions
are created to address new and emerging threats. In recent months,
Aerostar has executed several successful flight campaigns and
expects to achieve significant milestones regarding flight
durations and mission capabilities in the second half of the fiscal
year.
Supplemental Raven Autonomy™ Financial Information
The financial impact of Raven Autonomy™ in the second quarter of
fiscal 2021 was as follows:
Second Quarter Fiscal 2021
Financial Impact of Raven Autonomy™
Increase (Decrease)
(dollars in millions, except
per share amounts)
Three Months Ended July 31,
2020
Six Months Ended July 31,
2020
Net sales
$
0.2
$
0.9
Gross profit
—
(0.2
)
Applied Technology Operating income
(4.0
)
(7.8
)
Consolidated Operating income
(4.0
)
(7.8
)
Consolidated EBITDA3
(3.8
)
(7.5
)
Net income attributable to Raven
Industries, Inc.
(3.1
)
(6.0
)
Net income per common share - Diluted
$
(0.09
)
$
(0.17
)
Suspension of Regular Cash Dividend
The Company's balance sheet continues to be a pillar of
strategic strength. Cash flow generation has been exceptionally
strong during the first half of the year, and the Company currently
has no interest-bearing debt. This is especially impressive given
the short-term challenges resulting from the pandemic and
highlights the strength of the Company's business model. Total
liquidity, defined as cash plus available committed borrowing
capacity, is approximately $120 million today, and the Company is
confident it will maintain a strong liquidity position in the
future.
The decision by the Company's Board of Directors to indefinitely
suspend the dividend was not for liquidity reasons, but rather a
reflection of the optimism and confidence in the Company's three
key strategic platforms for growth: Raven Autonomy™, Raven
Composites™ and Raven Thunderhead Balloon Systems. Over the next
five years, the Company expects to aggressively invest in these
platforms to capture the significant market opportunities each
platform enables.
"We are extremely excited about each of our strategic platforms
and we are committed to aggressively investing in them to drive
long-term growth and value creation," stated Steven Brazones, Vice
President and CFO. "We are in a very unique market position to
successfully capitalize on these opportunities, and we are
confident in our ability to execute our strategic plan."
Fiscal 2021 Outlook
"Through leveraging our strong business model, we have overcome
significant obstacles and performed very well while keeping our
highly-talented team intact and investing significant capital to
advance Raven Autonomy™," said Dan Rykhus, President and CEO. "The
past few months have brought greater clarity and signs of market
stabilization, leading to our decision to restart planned
investments in Raven Composites™. This platform, combined with
Raven Autonomy™ and Aerostar's stratospheric platforms, are the key
drivers of our company's long-term growth.
"In Raven Autonomy™, the integration of the acquisitions is
complete, and we are moving with conviction to harden the
technology platforms to ready them for full commercialization in
calendar 2021. My confidence in our ability to capitalize on this
tremendous opportunity in the market, and change the way farming is
done today, remains very high. We look forward to showcasing our
industry-leading technology and providing further updates on Raven
Autonomy™ at our virtual investor day occurring tomorrow.
"In Applied Technology, we achieved substantial year-over-year
growth in both sales and profitability, as demand for our
world-class technology continues to grow. We continue to overcome
challenges facing the ag market by designing innovative products
that deliver exceptional value and return on investment for our
customers and partners. Over the last few months, we have created
momentum and an increase in collaboration around substantial
opportunities with our strategic partners. This will serve as a key
foundation for delivering growth in the future.
"Engineered Films managed through severe economic difficulties
during the second quarter. While we have seen stabilization in a
few areas, we expect challenging market conditions for Engineered
Films to persist throughout the remainder of fiscal 2021. With that
timing, we are executing on opportunities to leverage our
world-class extrusion lines and fabrication capabilities. In
addition, we will continue to manage expenses to help offset the
impact from the decline in revenue.
"In Aerostar, we returned to regular customer activity in the
last month of the quarter, and this will extend throughout the
remainder of the fiscal year. In fiscal 2021, we are expecting
year-over-year revenue growth as the division is able to once again
execute on contracts associated with customer flight campaigns. We
are actively investing in advanced solutions and technical services
within Aerostar. These investments have the division
well-positioned for growth in fiscal 2022 and beyond.
"Our ability to effectively manage through unprecedented
challenges was evident throughout the first half of fiscal 2021 by
our ability to generate strong cash flows while aggressively
investing in Raven Autonomy™. We have started to see signs of
economic conditions stabilizing. As we navigate the remainder of
fiscal 2021, we will capitalize on the opportunities that exist and
set the foundation for substantial, long-term growth for our
company," concluded Rykhus.
Institutional Investor Event
The Company will host a virtual investor event on Thursday,
August 27, 2020, spotlighting Raven's strategic platforms for
growth. The event will focus on the tremendous opportunity within
Raven Autonomy™ and will also provide key updates on Raven
Composites™ and Raven Aerostar's Thunderhead Balloon Systems. The
event will begin at 10:00 a.m. ET and is open to all interested
investors. A live video webcast and presentation materials will be
available through the Investor Relations section of the Company's
website at http://investors.ravenind.com.
Regulation G
The information presented in this earnings release regarding
consolidated and segment earnings before interest, taxes,
depreciation, and amortization (EBITDA), do not conform to
generally accepted accounting principles (GAAP) and should not be
construed as an alternative to the reported results determined in
accordance with GAAP. Additionally, management has included this
non-GAAP information to assist in understanding the operating
performance of the Company and its operating segments as well as
the comparability of results. The non-GAAP information provided may
not be consistent with the methodologies used by other companies.
All non-GAAP information is reconciled with reported GAAP results
in the tables below.
About Raven Industries, Inc.
Raven Industries (NASDAQ: RAVN) is dedicated to providing
innovative, high-value products and solutions that solve great
challenges throughout the world. Raven is a leader in precision
agriculture, high-performance specialty films, and lighter-than-air
technologies. Since 1956, Raven has designed, produced, and
delivered exceptional solutions, earning the company a reputation
for innovation, product quality, high performance, and unmatched
service. For more information, visit http://ravenind.com.
Forward-Looking Statements
This news release contains “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, including statements regarding the expectations, beliefs,
intentions or strategies regarding the future. The Company intends
that all forward-looking statements be subject to the safe harbor
provisions of the Private Securities Litigation Reform Act.
Generally, forward-looking statements can be identified by words
such as "may," "will," "plan," "believe," "expect," "intend,"
"anticipate," "potential," "should," "estimate," "predict,"
"project," "would," and similar expressions, which are generally
not historical in nature. However, the absence of these words or
similar expressions does not mean that a statement is not
forward-looking. All statements that address operating performance,
events or developments that we expect or anticipate will occur in
the future - including statements relating to our future operating
or financial performance or events, our strategy, goals, plans, and
projections regarding our financial position, our liquidity and
capital resources, and our product development - are
forward-looking statements.
Management believes that these forward-looking statements are
reasonable as and when made. However, caution should be taken not
to place undue reliance on any such forward-looking statements,
because such statements speak only as of the date when made. Our
Company undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law. In addition,
forward-looking statements are subject to certain known risks, as
described in the Company’s 10K under Item 1A, and unknown risks and
uncertainties that may cause actual results to differ materially
from our Company’s historical experience and our present
expectations or projections.
RAVEN INDUSTRIES, INC.
CONDENSED CONSOLIDATED
STATEMENTS OF INCOME
(Dollars and shares in
thousands, except earnings per share) (Unaudited)
Three Months Ended July
31,
Six Months Ended July
31,
2020
2019
Fav (Un) Change
2020
2019
Fav (Un) Change
Net sales
$
85,179
$
98,058
(13.1
)%
$
171,675
$
196,236
(12.5
)%
Cost of sales
55,047
66,720
113,076
129,832
Gross profit
30,132
31,338
(3.8
)%
58,599
66,404
(11.8
)%
Gross profit percentage
35.4
%
32.0
%
34.1
%
33.8
%
Research and development expenses
10,808
7,067
21,313
14,338
Selling, general, and administrative
expenses
13,181
13,701
27,204
26,375
Operating income
6,143
10,570
(41.9
)%
10,082
25,691
(60.8
)%
Operating income percentage
7.2
%
10.8
%
5.9
%
13.1
%
Other income (expense), net
377
383
(91
)
314
Income before income taxes
6,520
10,953
(40.5
)%
9,991
26,005
(61.6
)%
Income tax expense
701
2,187
223
4,029
Net income
5,819
8,766
(33.6
)%
9,768
21,976
(55.6
)%
Net loss attributable to the
noncontrolling interest
—
—
(98
)
—
Net income attributable to Raven
Industries, Inc.
$
5,819
$
8,766
(33.6
)%
$
9,866
$
21,976
(55.1
)%
Net income per common share:
- Basic
$
0.16
$
0.24
(33.3
)%
$
0.27
$
0.61
(55.7
)%
- Diluted
$
0.16
$
0.24
(33.3
)%
$
0.27
$
0.60
(55.0
)%
Weighted average common shares:
- Basic
35,996
36,062
35,962
36,065
- Diluted
36,082
36,247
36,079
36,325
RAVEN INDUSTRIES, INC.
CONDENSED CONSOLIDATED BALANCE
SHEETS
(Dollars in thousands)
(Unaudited)
July 31
January 31
July 31
2020
2020
2019
ASSETS
Cash and cash equivalents
$
15,813
$
20,707
$
69,131
Accounts receivable, net
53,032
62,552
60,700
Inventories, net
51,302
53,899
61,311
Other current assets
5,814
5,436
8,727
Total current assets
125,961
142,594
199,869
Property, plant and equipment, net
104,937
100,850
104,654
Goodwill
105,703
106,509
50,827
Intangible assets, net
44,175
46,217
15,373
Other assets
11,001
7,087
5,789
TOTAL ASSETS
$
391,777
$
403,257
$
376,512
LIABILITIES AND SHAREHOLDERS'
EQUITY
Accounts payable
$
17,960
$
14,893
$
15,722
Accrued and other liabilities
23,435
23,030
22,996
Total current liabilities
41,395
37,923
38,718
Long-term debt
378
225
—
Other liabilities
32,453
29,161
22,816
Total liabilities
74,226
67,309
61,534
Redeemable noncontrolling interest
—
21,302
—
Shareholders' equity
317,551
314,646
314,978
TOTAL LIABILITIES AND SHAREHOLDERS'
EQUITY
$
391,777
$
403,257
$
376,512
Net Working Capital and Net
Working Capital Percentage2
Accounts receivable, net
$
53,032
$
62,552
$
60,700
Plus: Inventories, net
51,302
53,899
61,311
Less: Accounts payable
17,960
14,893
15,722
Net working capital2
$
86,374
$
101,558
$
106,289
Annualized net sales
$
340,716
$
343,044
$
392,232
Net working capital percentage2
25.4
%
29.6
%
27.1
%
RAVEN INDUSTRIES, INC.
CONDENSED CONSOLIDATED
STATEMENTS OF CASH FLOWS
(Dollars in thousands)
(Unaudited)
Six Months Ended July
31,
2020
2019
Cash flows from operating activities:
Net income
$
9,768
$
21,976
Adjustments to reconcile net income to net
cash provided by operating activities:
Depreciation and amortization
8,478
8,122
Other operating activities, net
12,338
(3,938
)
Net cash provided by operating
activities
30,584
26,160
Cash flows from investing activities:
Capital expenditures
(7,783
)
(3,784
)
Proceeds from sale or maturities of
investments
336
993
Purchases of investments
(146
)
(907
)
Proceeds from sale of assets
251
—
Other investing activities, net
24
20
Net cash used in investing activities
(7,318
)
(3,678
)
Cash flows from financing activities:
Dividends paid
(9,318
)
(9,353
)
Payments for common shares repurchased
—
(5,781
)
Proceeds from debt
50,150
—
Repayments of debt
(50,000
)
—
Payments for redeemable noncontrolling
interest
(17,853
)
—
Payment of acquisition-related contingent
liabilities
—
(717
)
Other financing activities, net
(959
)
(3,241
)
Net cash used in financing activities
(27,980
)
(19,092
)
Effect of exchange rate changes on
cash
(180
)
(46
)
Net increase (decrease) in cash and cash
equivalents
(4,894
)
3,344
Cash and cash equivalents at beginning of
period
20,707
65,787
Cash and cash equivalents at end of
period
$
15,813
$
69,131
RAVEN INDUSTRIES, INC.
SALES AND OPERATING INCOME BY
SEGMENT
(Dollars in thousands)
(Unaudited)
Three Months Ended July
31,
Six Months Ended July
31,
2020
2019
Fav (Un) Change
2020
2019
Fav (Un) Change
Net sales
Applied Technology
$
35,502
$
27,371
29.7%
$
77,509
$
69,096
12.2%
Engineered Films
36,252
57,516
(37.0)%
69,650
101,808
(31.6)%
Aerostar
13,465
13,189
2.1%
24,616
25,379
(3.0)%
Intersegment eliminations
(40
)
(18
)
(100
)
(47
)
Consolidated net sales
$
85,179
$
98,058
(13.1)%
$
171,675
$
196,236
(12.5)%
Operating income
Applied Technology
$
6,511
$
4,849
34.3%
$
15,450
$
18,085
(14.6)%
Engineered Films
4,465
10,150
(56.0)%
6,072
16,513
(63.2)%
Aerostar
1,751
2,943
(40.5)%
2,044
4,939
(58.6)%
Intersegment eliminations
11
1
51
2
Total segment income
$
12,738
$
17,943
(29.0)%
$
23,617
$
39,539
(40.3)%
Corporate expenses
(6,595
)
(7,373
)
10.6%
(13,535
)
(13,848
)
2.3%
Consolidated operating income
$
6,143
$
10,570
(41.9)%
$
10,082
$
25,691
(60.8)%
Operating income percentages
Applied Technology
18.3
%
17.7
%
60bps
19.9
%
26.2
%
(630)bps
Engineered Films
12.3
%
17.6
%
(530)bps
8.7
%
16.2
%
(750)bps
Aerostar
13.0
%
22.3
%
(930)bps
8.3
%
19.5
%
(1,120)bps
Consolidated operating income
7.2
%
10.8
%
(360)bps
5.9
%
13.1
%
(720)bps
RAVEN INDUSTRIES, INC.
EBITDA REGULATION G
RECONCILIATION3
(Dollars in thousands)
(Unaudited)
Three Months Ended July
31,
Six Months Ended July
31,
Fav (Un)
Fav (Un)
2020
2019
Change
2020
2019
Change
Applied Technology
Reported Operating income
$
6,511
$
4,849
34.3%
$
15,450
$
18,085
(14.6)%
Plus: Depreciation and amortization
1,221
971
25.7%
2,321
1,999
16.1%
ATD EBITDA
$
7,732
$
5,820
32.9%
$
17,771
$
20,084
(11.5)%
ATD EBITDA % of Net Sales
21.8
%
21.3
%
22.9
%
29.1
%
Engineered Films
Reported Operating income
$
4,465
$
10,150
(56.0)%
$
6,072
$
16,513
(63.2)%
Plus: Depreciation and amortization
2,424
2,427
(0.1)%
4,836
4,724
2.4%
EFD EBITDA
$
6,889
$
12,577
(45.2)%
$
10,908
$
21,237
(48.6)%
EFD EBITDA % of Net Sales
19.0
%
21.9
%
15.7
%
20.9
%
Aerostar
Reported Operating income
$
1,751
$
2,943
(40.5)%
$
2,044
$
4,939
(58.6)%
Plus: Depreciation and amortization
248
219
13.2%
487
440
10.7%
Aerostar EBITDA
$
1,999
$
3,162
(36.8)%
$
2,531
$
5,379
(52.9)%
Aerostar EBITDA % of Net Sales
14.8
%
24.0
%
10.3
%
21.2
%
Consolidated
Net income attributable to Raven
Industries Inc.
$
5,819
$
8,766
(33.6)%
$
9,866
$
21,976
(55.1)%
Interest (income) expense, net
136
(204
)
280
(434
)
Income tax expense (benefit)
701
2,187
223
4,029
Plus: Depreciation and amortization
4,302
4,040
8,478
8,122
Consolidated EBITDA
$
10,958
$
14,789
(25.9)%
$
18,847
$
33,693
(44.1)%
Consolidated EBITDA % of Net Sales
12.9
%
15.1
%
11.0
%
17.2
%
1 Free cash flow is defined as Net cash
provided by operating activities, less capital expenditures, less
dividends paid.
2 Net working capital is defined as
accounts receivable, (net) plus inventories, (net) less accounts
payable. Net working capital percentage is defined as net working
capital divided by four times quarterly sales for each respective
period.
3 EBITDA is a non-GAAP financial measure
defined on a consolidated basis as net income attributable to Raven
Industries, Inc., plus income taxes, plus depreciation and
amortization expense, plus interest (income) expense, (net). On a
segment basis, it is defined as operating income plus depreciation
expense and amortization expense. EBITDA margin is defined as
EBITDA divided by net sales.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200826005774/en/
Jared Stearns Investor Relations Manager Raven Industries, Inc.
+1 (605) 336-2750
Raven Industries (NASDAQ:RAVN)
Historical Stock Chart
From Aug 2024 to Sep 2024
Raven Industries (NASDAQ:RAVN)
Historical Stock Chart
From Sep 2023 to Sep 2024