Bright Green Reports Negative GAAP EPS of -$0.02
May 25, 2023
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Bright Green ($NASDAQ:BGXX) is a publicly-traded company that produces and distributes sustainable products and services. Recently, the company has reported negative GAAP Earnings Per Share (EPS) of -$0.02. This is a significant deviation from the positive EPS reported in the previous quarter. While this is a cause for concern, the company is optimistic that future quarters will bring improved financials. The negative EPS result can be attributed to a variety of factors including higher operating expenses, increased research and development costs, and a decline in revenues.
In addition, the company also had to write off some non-performing assets, which impacted their bottom line. Management is taking steps to ensure that Bright Green returns to a profitable position as soon as possible. Overall, Bright Green is hoping to turn the situation around by increasing efficiency and focusing more on developing new products and services. In addition, the company has stated that they are committed to reducing their costs in order to improve profitability. By doing so, they are confident that they will be able to report positive EPS for future quarters.
Earnings
The latest earnings report of BRIGHT GREEN for the first quarter of FY2023 ending March 31 2023 has revealed a negative GAAP EPS of -$0.02. According to the report, the company lost 0.0M USD in total revenue and 2.61M USD in net income. This is a stark contrast to the total revenue of 0.0M USD reported for the same period last year. For the past 3 years, there has been no change in total revenue reported by BRIGHT GREEN.
This suggests that the company is currently facing a difficult period as it continues to struggle with declining revenues and negative profits. It remains to be seen how BRIGHT GREEN will navigate out of this difficult situation and return to profitability.
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Bright Green. More…
| Total Revenues | Net Income | Net Margin |
| 0 | -29.55 | – |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Bright Green. More…
| Operations | Investing | Financing |
| -2.13 | -15.08 | 16.99 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Bright Green. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 24.17 | 12.41 | 0.07 |
Key Ratios Snapshot
Some of the financial key ratios for Bright Green are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| – | – | – |
| FCF Margin | ROE | ROA |
| – | -156.4% | -75.5% |
Stock Price
On Wednesday, BRIGHT GREEN reported a negative GAAP earnings per share (EPS) of -$0.02. Prior to the report, BRIGHT GREEN’s stock had opened at $0.8 and closed at the same price. This was a 6.8% decrease from the closing price prior of $0.8. Live Quote…
Analysis
GoodWhale has performed an analysis of BRIGHT GREEN‘s wellbeing. Based on our Star Chart, BRIGHT GREEN is strong in asset, dividend, growth, and profitability. Further examination reveals that BRIGHT GREEN is classified as an ‘elephant’ company, meaning it has significant assets after liabilities are deducted. Investors interested in such a company may be looking for a steady and reliable investment that can provide long-term returns, as BRIGHT GREEN has an intermediate health score of 5/10 with regard to its cashflows and debt. We are confident that this company is likely to safely ride out any potential crisis without the risk of bankruptcy. More…
Peers
The competition between Bright Green Corp and its competitors, HEXO Corp, Canopy Growth Corp, and Aurora Cannabis Inc, has been heating up in recent years. With each company striving to outshine the others and gain the most market share, the battle between these four cannabis industry giants has been fierce. All four companies have seen impressive growth, but only one will come out on top.
– HEXO Corp ($TSX:HEXO)
HEXO Corp is a Canadian cannabis company that specializes in the production and sale of cannabis products. The company’s market cap is currently 73.91M as of 2023, indicating that the company has a modest market capitalization. Additionally, the company’s Return on Equity (ROE) is -72.03%, indicating that the company has yet to generate a substantial return on its investments. Despite this, HEXO Corp continues to remain profitable and invest in new strategies to ensure its success in the long-term.
– Canopy Growth Corp ($TSX:WEED)
Canopy Growth Corp. is a Canadian-based cannabis company that is one of the world’s largest producers of cannabis. As of 2023, the company has a market capitalization of 906.55M, which makes it one of the most valuable cannabis companies in the world. Canopy Growth’s Return on Equity (ROE) of -124.75% shows that the company is not generating enough profit relative to the amount of shareholders’ equity invested in the business. The negative ROE suggests that the company is not utilizing its assets effectively and may be having difficulty generating sufficient profits to cover its costs and expenses. Canopy Growth is working to increase its ROE by expanding its operations internationally, focusing on higher margin products, and developing new products to capture more of the cannabis market.
– Aurora Cannabis Inc ($TSX:ACB)
Aurora Cannabis Inc is a global leader in the cannabis industry, producing and distributing medical and recreational cannabis products. The company has a market cap of 283.02 million as of 2023, indicating that it is a valuable public company. Furthermore, Aurora Cannabis has a Return on Equity (ROE) of -190.79%, indicating that the company has experienced poor financial performance over the past year. Aurora Cannabis has recently undertaken a series of cost-cutting and efficiency measures to improve its financial performance and restore investor confidence. Despite these efforts, the company’s market cap remains relatively low and its ROE remains negative.
Summary
Bright Green is a publicly traded company that recently reported a GAAP EPS of -$0.02, causing its stock price to move down accordingly. Investing in Bright Green may be a risky proposition at this time, as any negative financial news could further depress the stock price. Investors should thoroughly examine the company’s financials and assess the risk-reward tradeoff before investing. It may be best to wait for the company to show signs of improvement before investing, such as an increase in revenue or other positive news that could lead to a rebound in the stock price.
In addition, investors should also take into account the company’s competitive landscape and future growth prospects when considering investing in the stock.
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