For the second quarter of FY2023, LARGO INC ($NASDAQ:LGO) reported a total revenue of USD 53.1 million, a 37.4% decrease from the same period in FY2022, and a net income of USD -5.8 million, a 68.4% drop year-over-year.
On Thursday, LARGO INC, a major player in the technology industry, reported financial results for the second quarter of Fiscal Year 2023. The company reported total revenue of USD 53.1 million and net income of USD -5.8 million. The net income was lower compared to the previous quarter due to increased operating expenses. The news sent shockwaves through the stock market as investors were expecting higher numbers. Consequently, the stock opened at $4.0 and closed at $3.7, a 8.8% drop from the previous closing price of 4.1. This was the sharpest drop the company has experienced in recent months and it was largely attributed to the poor financial results. Despite the decline in stock price, the company remains confident that they can turn things around and deliver better numbers in the upcoming quarters. In order to do so, they will focus on cost-cutting measures and improving efficiency in their operations.
In addition, they are also exploring new opportunities to grow their business and increase top-line revenue. Live Quote…
At GoodWhale, we have conducted an analysis of LARGO INC’s fundamentals and have determined that the intrinsic value of LARGO INC share is roughly $11.1. This number has been calculated using our proprietary Valuation Line, which takes into account several factors such as assets, liabilities, cash flows, earnings potential, and more. Currently, LARGO INC stock is trading at just $3.7, representing an incredibly attractive 66.7% discount to its intrinsic value. This presents an amazing buying opportunity for investors. More…
Investors were disappointed by the second quarter results for LARGO INC reported on June 30, 2023, with total revenue of USD 53.1 million and net income of USD -5.8 million. This marked a 37.4% decrease in revenue and a 68.4% decrease in net income when compared to the same period in FY2022. The news caused an immediate reaction in the stock price, which dropped significantly on the same day. Investors should be cautious and thoroughly research the company before investing, as its financials have been weak in the recent quarters.
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