ENGlobal FY2023 revenue $39.0M, net loss $15.2M; backlog $13.3M

ENGLOBAL CORP

Revenue $39.0M (down 3% from $40.2M); net loss $15.2M improved from $18.5M.
Diluted EPS loss $(3.03) vs $(4.16) prior year; includes $1.8M impairment.
Backlog $13.3M at year-end; new bookings $30.7M in 2023, $4.6M in Jan-Feb 2024 (book-to-bill 1.15).
Payroll costs cut >50%; billable utilization improved 15-20 percentage points.
CEO cites repositioning, legacy project challenges, and strategic partnership discussions for 2024.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ENGLOBAL CORP reported the year ended December 30, 2023 results: revenue $39.0 million, net income $15.2 million, EPS $3.03 per fully diluted share.

Period: the year ended December 30, 2023
Revenue: $39.0 million
Net income: $15.2 million
EPS: $3.03 per fully diluted share
Result: reported results

Exact text from the filing

Revenues for the year ended December 30, 2023 were $39.0 million, a decrease of $1.2 million from $40.2 million for the year ended December 31, 2022. Net loss for 2023 was $15.2 million compared to net loss of $18.5 million in 2022. ENGlobal lost $3.03 per fully diluted share in 2023 compared to a loss of $4.16 per fully diluted share in 2022.

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Source: SEC EDGAR

accession 0001654954-24-003783

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