SPAR Group Q4 revenue $65.1M; gross margin improves 210 bps; sells South Africa & Brazil JVs for ~$22M

SPAR Group, Inc.

2024-Q1 EPS reported $0.28 vs consensus -$0.02 ▲ beat (+1472.5%)

Q4 net revenue $65.1M (up 0.7%); Americas $49.2M, EMEA $8.8M, APAC $7.1M.
Q4 gross profit $14.9M (22.9% margin), up from 20.7% prior year (210 bps improvement).
Full year 2023 revenue $262M (up ~1%); gross margin improved 160 bps to 21.1%.
U.S. merchandising revenue grew 20% YoY; Canada merchandising & remodeling revenue up >50%.
Signed sale agreements for South Africa & Brazil joint ventures; expected cash proceeds ~$22M USD.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SPAR Group, Inc. reported the fourth quarter ended December 31, 2023 results: revenue $65.1 million.

Period: the fourth quarter ended December 31, 2023
Revenue: $65.1 million
Result: reported results

Exact text from the filing

Net revenues were $65.1 million, comprised of $49.2 million from the Americas segment (75.7%), $8.8 million from EMEA (13.5%), and $7.1 million from APAC (10.8%).

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Source: SEC EDGAR

accession 0001437749-24-010501

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