ORIGIN MATERIALS Reports Profitable Q2 Results for FY2023
August 22, 2023
☀️Earnings Overview
On June 30 2023, ORIGIN MATERIALS ($NASDAQ:ORGN) reported their financial results for the second quarter of fiscal year 2023. This quarter, the company saw a considerable decrease in their total revenue, which amounted to USD 6.9 million as opposed to the 0.0 million from the same period in the previous year. Net income for the period was USD -6.5 million, compared to the 46.9 million reported in Q2 of FY2022.
Share Price
On Wednesday, ORIGIN MATERIALS reported its Q2 financial results for FY2023 and announced an overall profitable quarter with positive performance in key areas. The company stock opened at $4.4 and closed at $4.3, up by 0.2% from the prior closing price of $4.3. Despite the slight increase, investors responded positively to the company’s quarterly update, showing their confidence in the company’s future prospects. The company reported a 4% increase in revenue in the quarter compared to the same period last year. Growth was attributed to higher sales of the company’s specialty materials products due to demand from the automotive sector.
This was made possible due to cost control, efficient capital utilization, and optimization of production processes. Overall, the Q2 financials demonstrated that ORIGIN MATERIALS had a successful and profitable quarter. The company is well-positioned to capitalize on future growth opportunities in its key markets, making it an attractive prospect for investors. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Origin Materials. More…
| Total Revenues | Net Income | Net Margin |
| 8.6 | 27.6 | 453.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Origin Materials. More…
| Operations | Investing | Financing |
| -58.69 | 43.14 | 1.03 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Origin Materials. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 476.7 | 84.2 | 2.74 |
Key Ratios Snapshot
Some of the financial key ratios for Origin Materials are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| – | – | 322.3% |
| FCF Margin | ROE | ROA |
| -2206.7% | 4.4% | 3.6% |
Analysis
GoodWhale has conducted an analysis of ORIGIN MATERIALS‘ fundamentals and our Risk Rating has determined that it is a high risk investment in terms of its financial and business aspects. Upon deeper investigation, we have detected one risk warning in the cash flow statement. If you’re interested in learning more about the risk warning, make sure to register on goodwhale.com. Our platform will provide you with deeper insights and the most up to date information on ORIGIN MATERIALS that will help inform your investment decision. More…
Peers
The company’s products are used in a variety of industries, including automotive, construction, and packaging. Origin Materials Inc’s competitors include KBC Corp Ltd, Daito Chemix Corp, and Jiangsu Dewei Advanced Materials Co Ltd.
– KBC Corp Ltd ($SHSE:688598)
KBC Corp Ltd is a publicly traded company with a market capitalization of $22.72 billion as of 2022. The company has a return on equity of 22.85%. KBC Corp Ltd is a leading provider of banking and financial services in Belgium. The company offers a wide range of services including retail banking, corporate banking, investment banking, asset management, insurance, and private banking.
– Daito Chemix Corp ($TSE:4366)
Daito Chemix Corp is a Japanese company that manufactures and sells chemicals and other products. The company has a market cap of 5.81B as of 2022 and a Return on Equity of 5.73%. Daito Chemix Corp is a publicly traded company on the Tokyo Stock Exchange.
Summary
ORIGIN MATERIALS has had a difficult quarter, with total revenue down significantly from the same period last year and a net loss of USD 6.5 million. This is a major concern for investors, as it goes against the trend of steady growth seen in previous quarters. However, despite this setback, analysts believe that the company has the potential to recover in the long-term with the right strategies. It is important that shareholders remain vigilant and keep up to date on the latest developments from the company.
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