LARGO INC ($NASDAQ:LGO) reported their earnings results for the second quarter of fiscal year 2023 on June 30, 2023. The total revenue was USD 53.1 million, a 37.4% decrease from the same quarter of the previous year. Net income for the quarter was reported as USD -5.8 million, compared to USD 18.1 million in the same quarter of the previous year.
GoodWhale’s analysis of LARGO INC‘s fundamentals revealed a strong asset score, medium growth score, medium profitability score, and a weak dividend score in its Star Chart. LARGO INC has an overall high health score of 8/10, indicating that it is capable of sustaining future operations in times of crisis due to its strong cashflows and debt. We classify LARGO INC as a ‘rhino’, a type of company that has achieved moderate revenue or earnings growth. Investors who are looking for maintainable yet moderate returns may be interested in companies like LARGO INC. Such investors may seek out companies that have strong asset scores, a good health score, and moderate growth. Those seeking higher returns may look for companies with higher scores in growth, profitability, and dividends. More…
Investors were disappointed with the second quarter earnings results from LARGO INC, reporting a 37.4% decrease in total revenue compared to the previous year. Net income was reported as a negative 5.8 million, a stark contrast to the 18.1 million reported in the same quarter of the year prior. The stock price reacted to these results by dropping on June 30, 2023. Generally speaking, investors are concerned with the company’s financial health and future prospects, and may continue to keep an eye on LARGO INC’s earnings reports in the coming quarters.
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