FGI Q2 2023 revenue falls 38.9% to $29.2M; gross margin expands 980 bps

FGI Industries Ltd.

2023-Q2 EPS reported -$0.02 revenue$56,352,179

Total revenues of $29.2 million, down 38.9% year-over-year.
Gross profit $8.0 million, down 4.9% YoY; gross margin 27.4%, up 980 bps.
Net income of $0.1 million; adjusted net income also $0.1 million.
Adjusted operating income of $0.6 million.

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

FGI Industries Ltd. reported the second quarter ended June 30, 2023 results: revenue $29.2 million, net income $0.1 million.

Period: the second quarter ended June 30, 2023
Revenue: $29.2 million
Net income: $0.1 million
Result: reported results

Exact text from the filing

Total revenues of $29.2 million, (38.9%) y/y ◾ Gross profit of $8.0 million, (4.9%) y/y, Gross margin of 27.4%, +980 bps y/y ◾ Net Income of $0.1 million ◾ Adjusted net income of $0.1 million*

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Source: SEC EDGAR

accession 0001558370-23-014295

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