Greystone Logistics Q2 fiscal 2022 net loss $(0.01)/share; gross margin drops to 8.0% from 18.3%

GREYSTONE LOGISTICS, INC.

2022-Q2 EPS reported $0.09 revenue$30,618,966

Six months net income available to common rose to $2.59M ($0.09/share) vs $1.73M ($0.06) prior year; three months ended Nov. 30, 2021 net loss $(0.01)/share vs income $0.03.
EBITDA for six months was $5.97M, down from $6.62M prior year.
Gross profit margin collapsed to 8.0% on sales of $30.6M from 18.3% on $33.1M, driven by inflation and labor shortages.
CEO cited a $13.5M contract for recycled pallets with a national retailer, expects future growth from new equipment and lines.

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