BGSF reports record FY2022 revenue $298M; Q4 revenue up 14.2% YoY

BGSF, INC.

Full-year revenue $298.4M, +24.8% YoY (organic 24.2%); adjusted EBITDA $21.7M, +45% YoY.
Q4 revenue $77.3M, +14.2% YoY (organic 12%); Q4 adjusted EBITDA $4.3M (5.6% of rev), down from $5.1M.
Full-year net income from continuing ops $11.3M ($1.07 diluted EPS); adjusted EPS $1.26, +46.5% YoY.
Q4 net income from continuing ops $1.4M ($0.14 diluted EPS), lower vs $4.3M which included CARES Act credit.
Gross profit margin improved 80bps to 34.7% for FY2022; Q4 margin was 35.0%, up 40bps YoY.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

BGSF, INC. reported fourth fiscal quarter ended January 1, 2023 results: revenue $77.3 million, net income $1.4 million, EPS $0.14 per diluted share.

Period: fourth fiscal quarter ended January 1, 2023
Revenue: $77.3 million
Net income: $1.4 million
EPS: $0.14 per diluted share
Result: reported results

Exact text from the filing

Q4 2022 Highlights from Continuing Operations 2 : • Revenues were $77.3 million, up 14.2% from 2021, including organic growth of 12.0%. • Gross profit was $27.1 million, up 15.5% from 2021, including organic growth of 12.1%. Gross profit percent increased 40 basis points to 35.0% in 2022. • Net income from continuing operations was $1.4 million, or $0.14 per diluted share, vs. net income from continuing operations of $4.3 million, or $0.41 per diluted share in 2021, which inclu ded a CARES Act credit with an impact on net income o f $1.6 million , or $0.15 per diluted share.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

BGSF, INC. reported fiscal year ended January 1, 2023 results: revenue $298.4 million, net income $11.3 million, EPS $1.07 per diluted share.

Period: fiscal year ended January 1, 2023
Revenue: $298.4 million
Net income: $11.3 million
EPS: $1.07 per diluted share
Result: reported results

Exact text from the filing

Full Year 2022 Highlights from Continuing Operations 2 : • Revenues were $298.4 million, up 24.8% from 2021, including organic growth of 24.2%. • Gross profit was $103.5 million, up 27.9% from 2021, including organic growth of 26.9%. Gross profit margins increased 80 basis points to 34.7% in 2022. • Net income from continuing operations was $11.3 million, or $1.07 per diluted share, vs. net income from continuing operations of $10.5 million, or $1.00 per diluted share in 2021, net income was impacted by a CARES Act credit of $1.7 million, or $0.16 per diluted share, and a gain on contingent consideration of $1.9 million, or 0.18 per diluted share.

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Source: SEC EDGAR

accession 0001474903-23-000020

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