Gulf Resources Q3 revenue up 29% to $22.9M, EPS $0.86; guides Q4 bromine/crude salt rev $15.4-16.8M

GULF RESOURCES, INC.

Q3 net income $8.97M (+66% YoY); EPS $0.86 vs $0.52; 9-month EPS $1.22 vs $0.02.
Bromine revenue +33% to $19.8M on 26% higher avg price ($7,474/tonne vs $5,938).
Factory #8 preparing for production; revenues expected in Q4; factories #2/#10 status uncertain.
Q4 bromine/crude salt guidance: rev $15.4-16.8M, profit before tax $3.8-4.2M, both down 16-26%.
Chemical factory opening delayed to early 2024 due to COVID supply chain disruptions.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

GULF RESOURCES, INC. reported the nine-month period ending September 30,2022 results: revenue $47,505,246, net income $12,749,228, EPS $1.22.

Period: the nine-month period ending September 30,2022
Revenue: $47,505,246
Net income: $12,749,228
EPS: $1.22
Result: reported results

Exact text from the filing

For the nine-month period ending September 30,2022 · Revenues increased 39% to $47,505,246. · Income from operations increased 1085% to $16,986,668 from $1,433,742. · Net income increased 6672% to $12,749,228 from $188,271 · Earnings per share increased 6000% to $1.22 from $0.02

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

GULF RESOURCES, INC. reported the three-month period ending September 30,2022 results: revenue $22,862,795, net income $8,967,380, EPS $0.86.

Period: the three-month period ending September 30,2022
Revenue: $22,862,795
Net income: $8,967,380
EPS: $0.86
Result: reported results

Exact text from the filing

For the three-month period ending September 30,2022 · Revenues increased 29% to $22,862,795 compared to the same period of 2021. · Income from operations increased 68% to $11,942,592 compared to the same period of 2021. · Profits before taxes increased 68% to $11,978,347. · Net income increased 66% to $8,967,380. · Earnings per share increased 65% to $0.86.

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8 earnings releases filed in the last 30 days. Browse all earnings releases →

GULF RESOURCES, INC. filing history →

Source: SEC EDGAR

accession 0001193805-22-001536

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