secwatch / observer
8-K filed March 20, 2024, 7:59 PM ET ticker FGI CIK 0001864943
earnings confidence high sentiment neutral materiality 0.60

FGI Industries reports FY 2023 revenue down 27.5%, gross margin up 788 bps

FGI Industries Ltd.

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 fourth quarter and full-year 2023 results: revenue Total revenues of $31.0 million, net income Net Income of $0.5 million.

Period
the fourth quarter and full-year 2023
Revenue
Total revenues of $31.0 million
Net income
Net Income of $0.5 million
Result
reported results
Exact text from the filing
bath products, today announced results for the fourth quarter and full-year 2023. ​ FOURTH QUARTER 2023 HIGHLIGHTS (As compared to the prior-year period) ​ ▪ Total revenues of $31.0 million, (2.6%) ▪ Gross profit of $9.0 million, +20.1%; Gross margin of 29.2%, +549 basis points ▪ Net Income of $0.5 million ▪ Adjusted net income of $0.5 million* ▪ Adjusted operating
View on SEC.gov
Earnings Releases SEC 8-K Item 2.02 confidence 0.9

FGI Industries Ltd. reported full-year 2023 results: revenue Total revenues of $117.2 million, net income Net Income of $0.6 million.

Period
full-year 2023
Revenue
Total revenues of $117.2 million
Net income
Net Income of $0.6 million
Result
reported results
Exact text from the filing
▪ Adjusted net income of $0.5 million* ▪ Adjusted operating income of $1.4 million* ​ FULL-YEAR 2023 HIGHLIGHTS (As compared to the prior-year period) ​ ▪ Total revenues of $117.2 million, (27.5%) ▪ Gross profit of $32.1 million, +1.8%; Gross margin of 27.4%, +788 basis points ▪ Net Income of $0.6 million ▪ Adjusted net income of $1.0 million* ▪ Adjusted operating
View on SEC.gov

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FGI Industries Ltd. filing history →

Source: SEC EDGAR
accession 0001558370-24-003638
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