LIFECORE BIOMEDICAL Reports FY2023 Q4 Earnings Results for Period Ending May 31 2023
September 8, 2023
🌥️Earnings Overview
On August 31 2023, LIFECORE BIOMEDICAL ($NASDAQ:LFCR) released their earnings results for the fourth quarter of FY2023, which ended May 31 2023. The company reported a total revenue of USD 31.6 million, a 33.8% decrease from the same quarter in the prior year. Net income was slightly improved from last year, coming in at USD -36.1 million compared to the -36.5 million reported the year before.
Share Price
On Thursday, LIFECORE BIOMEDICAL reported its earnings results for the quarter ending May 31, 2023. The stock opened at $8.3 and closed at $8.0, plunging 11.8% from its previous closing price of $9.1. The results were not on par with the expectations of investors, who had been hoping to see a rise in earnings after a strong start to the fiscal year. Despite the company’s efforts to increase efficiency and cut costs, their profits for the quarter were still down from last year’s levels. The company pointed to a number of challenges that impacted their returns, including increased competition, a volatile market, and global macroeconomic conditions.
However, they remain confident in their long-term growth strategy and are committed to continuing to innovate and expand their product offerings. LIFECORE BIOMEDICAL is continuing to focus on their core businesses and expanding into new markets, as they strive to become a leader in the biotechnology industry. They are committed to delivering solutions that help improve patient care and create value for their shareholders. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Lifecore Biomedical. More…
| Total Revenues | Net Income | Net Margin |
| 103.27 | -102.19 | -51.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Lifecore Biomedical. More…
| Operations | Investing | Financing |
| -34.46 | -4.15 | 56.06 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Lifecore Biomedical. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 255.15 | 256.99 | -0.06 |
Key Ratios Snapshot
Some of the financial key ratios for Lifecore Biomedical are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -44.1% | -26.5% | -48.9% |
| FCF Margin | ROE | ROA |
| -53.5% | -195.1% | -12.4% |
Analysis
GoodWhale has conducted an analysis of LIFECORE BIOMEDICAL‘s fundamentals and, according to our Star Chart, they are classified as an ‘elephant’ company. This means they possess a significant amount of assets after subtracting their liabilities. As such, investors looking for companies that possess considerable financial resources would be interested in LIFECORE BIOMEDICAL. However, their health score is relatively low at 3/10 due to their cashflows and debt. This suggests that the company may not be able to safely ride out any crises or economic downturns without the risk of bankruptcy. Additionally, LIFECORE BIOMEDICAL is strong in asset, medium in profitability and weak in dividend and growth, so investors should be aware that the company may be lacking in some areas. More…
Peers
They are at the forefront of innovation, but they are not the only player in the game. Other companies such as Windlas Biotech Ltd, Biotika AS, and Daito Pharmaceutical Co Ltd offer similar services and products focused on the same goals of creating better medical treatments and products. Although these companies offer different solutions, they all strive for the same ultimate goal of improving the lives of people around the world.
– Windlas Biotech Ltd ($BSE:543329)
Windlas Biotech Ltd is a leading biopharmaceutical company based in India that specializes in research and development of innovative drugs for the treatment of various diseases and conditions. As of 2023, the company has a market cap of 4.69B, which is a testament to its success in providing high-quality healthcare products to customers around the world. Furthermore, its Return on Equity (ROE) stands at 8.66%, which demonstrates its efficient use of capital and strong profitability.
– Biotika AS ($LTS:0MZJ)
Daito Pharmaceutical Co Ltd is a leading Japanese pharmaceutical company based in Tokyo. Founded in 1959, Daito currently has a market cap of 35.64B as of 2023. The company’s Return on Equity (ROE), a measure of its profitability, has also been strong at 6.85%. Daito is known for its development of innovative and safe medications and products to improve the health and quality of life of its customers. The company has a wide range of products such as medical devices, diagnostics, and over-the-counter drugs that are sold both domestically and abroad.
Summary
LIFECORE BIOMEDICAL reported their earnings results for the fourth quarter of FY2023, showing a total revenue of USD 31.6 million, a 33.8% decrease from last year. Net income for the quarter was USD -36.1 million, a slight improvement from the previous year’s figure of -36.5 million. Following this news, the stock price moved down accordingly.
Investors should be aware of this significant decrease in revenue as well as the company’s ability to reduce its net losses from last year. They should also consider the potential for profitability if the company is able to reduce its costs and increase its revenue in the future.
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