BGSF Reports Record Results for Second Quarter of FY2023
August 23, 2023
🌥️Earnings Overview
BGSF ($NYSE:BGSF) reported total revenue of USD 80.8 million for the second quarter of FY2023, which ended on June 30, 2023; this marks a 9.1% increase from the same period last year. However, the company’s net income decreased by 18.2% year-over-year, registering at USD 2.6 million.
Stock Price
On Wednesday, BGSF reported record results for the second quarter of FY2023, with a strong performance in its core businesses. BGSF stock opened at $9.3 and closed at $9.4, down by 0.3% from last closing price of 9.4. This growth was driven by strong performance in its core businesses and improved cost efficiency initiatives. The company also reported an innovative product launch that has been well received by the market and is expected to contribute significantly to its revenue and profit growth in the coming quarters.
BGSF’s management team also remains confident in the company’s prospects and outlook for the foreseeable future. As such, investors remain optimistic about the company’s prospects in the coming quarters. bgsf&utm_title=BGSF_Reports_Record_Results_for_Second_Quarter_of_FY2023″>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
At GoodWhale, we conducted an analysis of BGSF’s fundamentals and found that according to Star Chart, BGSF is strong in dividend, growth, and medium in asset, and profitability. The company has an intermediate health score of 6/10 with regard to its cashflows and debt, which indicates that it may be able to safely ride out any crisis without the risk of bankruptcy. For this reason, we believe that BGSF may be an attractive investment opportunity for investors who are looking for a company with stable growth and a healthy balance sheet. Long-term investors or value investors may find BGSF particularly appealing due to its strong dividend and growth prospects. bgsf&utm_title=BGSF_Reports_Record_Results_for_Second_Quarter_of_FY2023″>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
Investors are likely to be disappointed with the second quarter earnings results reported by BGSF, as total revenue was up only 9.1%, though net income fell by 18.2%. This could be a sign of decreasing profitability or possibly a sign of increasing costs in order to drive higher revenue growth. Investors may want to take a closer look at the company’s finances and management’s strategy in order to determine whether an investment in BGSF is a worthwhile decision.
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