FGI Q1 revenue rises 13.2% to $30.8M; net loss $0.4M, guidance reaffirmed

FGI Industries Ltd.

2024-Q1 EPS reported -$0.04 revenue$30,753,519

Revenue $30.8M (+13.2% YoY); gross margin 27.4% (+90 bps).
Sanitaryware $20.5M (up from $15.4M); Bath Furniture $3.1M (down from $5.0M); Shower Systems $5.8M (up from $5.0M).
GAAP net loss $0.4M ($0.04 diluted EPS); adjusted net loss $0.4M ($0.05 diluted EPS).
Adjusted operating loss $0.2M vs. prior breakeven due to increased growth investment.
FY 2024 guidance reiterated: revenue $115-128M, adj. operating income $2.8-3.8M.

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 0.95

FGI Industries Ltd. reported first quarter ended March 31, 2024 results: revenue $30.8 million, net income ($0.4) million, or ($0.04) per diluted share, EPS ($0.04) per diluted share. Guidance reaffirmed.

Period: first quarter ended March 31, 2024
Revenue: $30.8 million
Net income: ($0.4) million, or ($0.04) per diluted share
EPS: ($0.04) per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

kitchen and bath products , today announced results for the first quarter 2024. FIRST QUARTER 2024 HIGHLIGHTS (As compared to the first quarter of 2023) ▪ Total revenues of $30.8 million, +13.2% y/y ▪ Gross profit of $8.4 million, +16.8% y/y, Gross margin of 27.4%, +90 bps y/y ▪ Net loss attributable to FGI shareholders of ($0.4) million ▪ Adjusted net loss of

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Source: SEC EDGAR

accession 0001558370-24-007363

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