Gulf Resources FY2022 net income $1.00/share vs loss $0.09; bromine prices down ~40% in 2023

GULF RESOURCES, INC.

Revenue up 20% to $66.1M; net income $10.1M vs loss $0.9M in 2021.
Bromine segment revenue +21% to $59.0M; avg selling price +14%, volume +6%.
Cash $108.2M ($10.37/share); working capital $107.6M; net net cash $8.38/share.
Bromine prices declined ~40% since early 2023; no 2023 guidance provided.
Yuxin chemical factory delayed; expects 3-4 months installation, then testing and approvals.

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 fiscal year ended December 31, 2022 results: revenue $66,094,486, net income $10,059,450, EPS $1.00.

Period: fiscal year ended December 31, 2022
Revenue: $66,094,486
Net income: $10,059,450
EPS: $1.00
Result: reported results

Exact text from the filing

During 2022, revenues increased 20% to $66,094,486.

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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 0001193805-23-000427

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