ORIGIN MATERIALS Reports Third Quarter Financial Results for 2023

🌥️Earnings Overview

On September 30, 2023, ORIGIN MATERIALS ($NASDAQ:ORGN) reported their financial results for the third quarter of fiscal year 2023, showing total revenue of USD 7.1 million, compared to 0.0 million in the same quarter of the previous year. The company also reported a net income of USD 30.9 million, up from 8.3 million in the corresponding period of the prior year.

Price History

On Thursday, ORIGIN MATERIALS stock opened at $1.1 and closed at $1.1, representing a 0.9% decrease from the prior closing price of $1.1. This drop was not entirely unexpected, as the company had warned investors that their third quarter financial results would be lower than expected. Overall, it appears that ORIGIN MATERIALS has been able to weather the storm brought on by the pandemic and remain profitable despite challenging conditions. Investors remain cautiously optimistic about the company’s prospects for the fourth quarter and beyond. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Origin Materials. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Origin Materials. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Origin Materials. More…

Key Ratios Snapshot

Some of the financial key ratios for Origin Materials are shown below. More…

Analysis

As GoodWhale, we have conducted an analysis of ORIGIN MATERIALS‘ fundamentals. Our Star Chart shows that this company is strong in terms of asset and growth, but weak in dividend and profitability. Based on this information, we have classified ORIGIN MATERIALS as a ‘cheetah’, a type of company that has achieved high revenue or earnings growth but is considered less stable due to lower profitability. As such, this company may be of interest to investors who are looking for high growth but are comfortable with the risk associated with a less stable company. In addition, our health score indicates that ORIGIN MATERIALS has a score of 7/10 with regard to its cashflows and debt, indicating that it is capable of sustaining future operations in times of crisis. 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 saw impressive financial growth in the third quarter of 2023, with total revenue rising to $7.1 million and net income to $30.9 million. This is a significant improvement compared to the same quarter of the previous year, providing strong evidence for potential investors to consider ORIGIN MATERIALS. The company has experienced healthy revenue and profit growth over the past year, making it an attractive choice for long-term investors looking for a reliable asset.