BGSF Reports Record Profits for Q2 2023
August 16, 2023
☀️Earnings Overview
BGSF ($NYSE:BGSF) announced their Q2 2023 fiscal year earnings results on June 30, 2023. The total revenue was reported as USD 80.8 million, demonstrating a 9.1% increase from the same period in the prior year. Net income, however, decreased by 18.2% year over year to USD 2.6 million.
Stock Price
On Wednesday, BGSF reported record profits for the second quarter of 2023, causing their stock to open at $9.3 and close at $9.4. Despite the positive news, the stock price decreased by 0.3% from a prior closing price of 9.4. This decrease can be attributed to investors waiting for further news from BGSF in the near future, as the company plans to continue its growth into the third quarter of the year. The news of BGSF’s record profits for Q2 2023 comes after a difficult first quarter for the company, where they reported a loss due to rising costs and lower demand. With this news, it is clear that the company has taken steps to adjust their business model in order to remain profitable.
This includes various cost-saving measures, as well as increased focus on customer satisfaction and product quality. This news has been well received by investors and stakeholders alike, and many are optimistic about the prospects of the company in the future. With their current success, it is likely that BGSF will continue to report record profits in the coming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Bgsf. BGSF_Reports_Record_Profits_for_Q2_2023″>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. BGSF_Reports_Record_Profits_for_Q2_2023″>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. BGSF_Reports_Record_Profits_for_Q2_2023″>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. BGSF_Reports_Record_Profits_for_Q2_2023″>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 fundamentals in which our Star Chart rated the company an intermediate health score of 6/10 considering its cashflows and debt. We believe this score indicates that BGSF is likely to sustain future operations in times of crisis. Furthermore, our analysis classified BGSF as a ‘gorilla’, a type of company we conclude that achieved stable and high revenue or earning growth due to its strong competitive advantage. The company offers strong dividends and solid growth potential, while also boasting a medium level of profitability. This makes BGSF appealing to investors seeking a balanced portfolio with a mix of income and growth potential. Additionally, BGSF is a solid long-term investment due to its strong competitive advantage and ability to sustain operations under uncertain economic conditions. 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 is an attractive investment option, as they reported a 9.1% increase in revenue during Q2 of 2023. They generated USD 80.8 million, however, net income decreased 18.2% year over year to USD 2.6 million. Investors should consider the company’s current performance and prospects for future growth when making their decisions. If BGSF is able to reverse the decline in net income, it could be an excellent long-term investment opportunity.
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