PROCAPS GROUP Reports Second Quarter 2023 Earnings Results on June 30th
September 7, 2023
🌥️Earnings Overview
On June 30, 2023, PROCAPS GROUP ($NASDAQ:PROC) reported their second-quarter earnings results for the 2023 fiscal year. Total revenue for Q2 was USD 110.1 million, a decrease of 2.1% from the same period in the prior year. Net income for Q2 was reported as USD 27.0 million, an increase from the -6.9 million reported in the same quarter of the previous year.
Stock Price
The company’s stock opened at $4.0 and closed at $3.9, down 0.5% from its prior closing price of $4.0. While the stock was down slightly from its opening price, PROCAPS GROUP reported positive financial results for the quarter. The group attributed this success to their focus on expanding sales in both the domestic and international markets, as well as cost reduction initiatives that decreased overhead costs.
In addition, the company has been actively investing in research and development in order to bring new products and services to the market. Overall, the PROCAPS GROUP is pleased with its performance during the second quarter of 2023 and is looking forward to continued success in the future. Investors and analysts have responded positively to the company’s earnings report and remain optimistic about the company’s future prospects. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Procaps Group. More…
| Total Revenues | Net Income | Net Margin |
| 406.09 | 66.59 | 2.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Procaps Group. More…
| Operations | Investing | Financing |
| 21.35 | -28.66 | -21.04 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Procaps Group. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 490.72 | 458.69 | 0.29 |
Key Ratios Snapshot
Some of the financial key ratios for Procaps Group are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 8.1% | 2.7% | 29.7% |
| FCF Margin | ROE | ROA |
| -1.8% | 385.4% | 15.3% |
Analysis
At GoodWhale, we have conducted an analysis of PROCAPS GROUP‘s fundamentals. Based on our Risk Rating, PROCAPS GROUP is a high risk investment in terms of both financial and business aspects. We have detected two risk warnings in the company’s income sheet and cashflow statement. If you would like to learn more about the potential risks and opportunities associated with investing in PROCAPS GROUP, please register with us for a detailed assessment. Our team of experts is here to help you make informed decisions to maximize your potential returns. More…
Peers
The company was founded in 1978 and is headquartered in Colombia. Procaps Group SA’s main competitors are Albert David Ltd, Denis Chem Lab Ltd, and Glenmark Life Sciences Ltd.
– Albert David Ltd ($BSE:524075)
David’s market cap is currently at 3.36B, with a ROE of 8.67%. The company is known for their wide array of products and services, including their flagship product, the David Sheild. The company has been in operation for over 60 years and is a trusted name in the industry.
– Denis Chem Lab Ltd ($BSE:537536)
Denis Chem Lab Ltd is a publicly traded company with a market capitalization of 1.3 billion as of 2022. The company has a return on equity of 9.33%. Denis Chem Lab Ltd is engaged in the research and development, manufacture, and sale of pharmaceutical and nutraceutical products. The company was founded in 1981 and is headquartered in Mumbai, India.
– Glenmark Life Sciences Ltd ($BSE:543322)
Glenmark Life Sciences Ltd is a pharmaceutical company with a market cap of 51.27B as of 2022. The company has a return on equity of 16.91%. Glenmark manufactures and markets a wide range of pharmaceutical products in India and internationally. The company’s product portfolio includes drugs in the areas of anti-infectives, cardiovascular, dermatology, diabetes, and respiratory. Glenmark also has a strong presence in the generic drug market in the United States.
Summary
Investors looking to add PROCAPS GROUP stocks to their portfolios should consider the company’s second quarter of 2023 results. Total revenue was USD 110.1 million, a decrease of 2.1%. Net income rose significantly to USD 27.0 million, indicating a much improved outlook for the company compared to the same period in the year prior. These results could signal that the company could be a good investment going forward as it appears to have overcome its previous financial struggles and is now in a better financial position.
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