BGSF Reports Q2 FY2023 Earnings Results for June 30 2023
August 12, 2023
🌥️Earnings Overview
On June 30th 2023, BGSF ($NYSE:BGSF) released their earnings results for the second quarter of FY2023, which concluded that day. The company had earned total revenue of USD 80.8 million – a 9.1% increase from the same period in the prior year. Although, their reported net income dropped by 18.2%, to USD 2.6 million, compared to the same period in the preceding year.
Price History
On Wednesday, BGSF reported its earnings results for the second quarter of the fiscal year 2023. BGSF stock opened at $9.3 on Wednesday and closed at $9.4, down by 0.3% from its last closing price of 9.4. Although the stock closed slightly lower, BGSF reported a solid quarter and maintained a strong balance sheet.
The company reported a healthy increase in revenue and profits during the quarter and despite the uncertain economic environment, BGSF showed resilience and demonstrated its commitment to long-term growth. Looking forward, BGSF plans to continue to invest in key growth areas and is optimistic about its future performance. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Bgsf. More…
| Total Revenues | Net Income | Net Margin |
| 311.91 | -7.48 | 3.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Bgsf. More…
| Operations | Investing | Financing |
| 6.48 | -43.9 | 38.04 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Bgsf. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 182.44 | 98.05 | 7.79 |
Key Ratios Snapshot
Some of the financial key ratios for Bgsf are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 2.7% | 4.0% | -2.1% |
| FCF Margin | ROE | ROA |
| 0.9% | -4.8% | -2.2% |
Analysis
GoodWhale has conducted an analysis of BGSF‘s wellbeing and has determined a Risk Rating of medium risk. We have identified three risk warnings in the income sheet, balance sheet, and financial journal which could indicate potential challenges that the company may face in the future. Upon becoming a registered user, you will have access to these risk warnings in order to determine whether or not BGSF is the right investment for you. We have taken into account a variety of factors such as profitability, debt levels, liquidity, and cash flow in order to determine our Risk Rating. Our analysis has revealed that BGSF is a medium risk investment when considering the financial and business aspects. We recommend that users do further research in order to decide if investing in BGSF is the right decision for them. More…
Peers
Its main competitors are Amadeus Fire AG, Futuris Co, and Gakujo Co Ltd.
– Amadeus Fire AG ($LTS:0DK9)
Amadeus Fire AG is a leading provider of fire protection solutions. The company has a market capitalization of 649.57 million as of 2022 and a return on equity of 25.45%. Amadeus Fire AG provides innovative fire protection solutions that meet the highest safety standards. The company’s products are used in a wide range of applications, including commercial, industrial, and residential buildings. Amadeus Fire AG’s products are backed by a team of skilled professionals who are dedicated to providing the best possible fire protection solutions.
– Futuris Co ($OTCPK:FTRS)
Futuris Co is a Japanese company that manufactures and sells automotive parts and accessories. The company has a market capitalization of 1.93 million as of 2022 and a return on equity of 17.37%. Futuris Co’s products include car seats, steering wheels, and other interior and exterior parts. The company also offers aftermarket products and services.
– Gakujo Co Ltd ($TSE:2301)
Gakujo Co Ltd is a Japanese company that manufactures and sells construction materials. It has a market cap of 20.51B as of 2022 and a Return on Equity of 8.83%. The company’s products include concrete, cement, bricks, and tiles. It also provides construction services.
Summary
BGSF‘s second quarter earnings report for FY2023 was largely positive, with total revenue rising 9.1% year-over-year. However, the company’s net income for the period dropped 18.2% compared to the same period a year prior. Investors should take a closer look at the company’s fundamentals to determine whether the increase in revenue will be sustainable and whether the dip in profitability is a one-time event or a systemic issue. In either case, the results should be monitored to assess the growth of the company and its potential as an attractive investment opportunity.
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