Yahoo Finance FGI Industries Third Quarter 2022 Earnings: Misses Expectations
FGI Industries (NASDAQ:FGI) Third Quarter 2022 Results
Key Financial Results
Revenue: US$38.5m (down 24% from 3Q 2021).
Net income: US$1.27m (down 8.9% from 3Q 2021).
Profit margin: 3.3% (up from 2.7% in 3Q 2021).
EPS: US$0.13.
All figures shown in the chart above are for the trailing 12 month (TTM) period
FGI Industries Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 17%. Earnings per share (EPS) also missed analyst estimates by 15%.
Looking ahead, revenue is expected to decline by 9.9% p.a. on average during the next 2 years, while revenues in the Trade Distributors industry in the US are expected to grow by 4.4%.
Performance of the American Trade Distributors industry.
The company's shares are down 11% from a week ago.
Risk Analysis
You should learn about the 4 warning signs we've spotted with FGI Industries (including 1 which is a bit concerning).
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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