SPAR Group Q1 revenue up 9.1% to $64.4M; operating income up 52% to $3.2M

SPAR Group, Inc.

2023-Q1 EPS reported $0.04 revenue$64,380,000

Net revenues $64.4M (+9.1% YoY; +12.4% constant currency); Americas segment grew 13.0%.
Gross profit margin expanded 190 bps to 22.0% from 20.1% on improved contract terms and cost controls.
Operating income $3.2M, up 52% from $2.1M; net income attributable to SPAR $866K ($0.04/diluted) vs $674K ($0.03).
Consolidated Adjusted EBITDA $4.2M vs $2.4M prior year; Adjusted net income $1.3M ($0.06/share).
Company continues strategic review (no update); strong balance sheet, expanding services with blue-chip clients.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SPAR Group, Inc. reported the first quarter ended March 31, 2023 results: revenue $64.4 million, net income $866 thousand, EPS $0.04 per share.

Period: the first quarter ended March 31, 2023
Revenue: $64.4 million
Net income: $866 thousand
EPS: $0.04 per share
Result: reported results

Exact text from the filing

First Quarter 2023 Financial Results Net revenues were $64.4 million

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Source: SEC EDGAR

accession 0001437749-23-015527

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