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FGI Industries Ltd (FGI)
NASDAQ:FGI
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Earnings Data
Report Date
Mar 31, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-$0.02Last Year’s EPS
$0.03Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 11, 2024
|% Change Since: -13.98%
|Next Earnings Date:Mar 31, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted strong revenue growth and strategic advancements, particularly in Bath Furniture and geographic expansion. However, increased operating expenses and a decline in gross margin impacted profitability, leading to a revised downward guidance for operating income. While there are positive growth indicators, the financial challenges present a balanced sentiment.Company Guidance
During the FGI Industries Q3 2024 earnings call, the company provided updated guidance for the full year 2024, reflecting significant adjustments based on current performance metrics. Revenue guidance was increased to a range of $127 million to $131 million, up from the previous range of $115 million to $128 million, indicating strong growth across all business segments and geographies. However, the adjusted operating income guidance was revised to a range of negative $1 million to breakeven, down from the prior guidance of $2.8 million to $3.8 million, largely due to increased operating expenses and lower gross margins influenced by higher freight costs and investments in growth initiatives like Cover Bridge and Isla Porter. The adjusted net income guidance was similarly revised to negative $1 million to breakeven from the earlier range of $1.2 million to $2 million, with adjustments excluding certain nonrecurring items and accounting for minority interest. Despite these challenges, the company remains optimistic about its strategic growth initiatives and continued market share gains.Significant Revenue Growth
FGI reported total revenue of $36.1 million, representing a year-over-year increase of 20.6%.
Record Gross Profit
Gross profit was a record $9.3 million, growing 18.9% compared to the prior year.
Geographic Revenue Increase
Revenue grew 21%, 9%, and 39% in the U.S., Canada, and Europe markets, respectively.
Bath Furniture and Shower Systems Growth
Bath Furniture revenue increased 64% and Shower Systems revenue increased 45% year-over-year.
Custom Kitchen Cabinetry Surge
Covered Bridge revenue increased 93% in the quarter, driven by strong dealer and customer expansion.
Promising Geographic Expansion
Plans for geographic expansion in Europe and India hold significant growth potential for future quarters.
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FGI Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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FGI Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 11, 2024 | $0.93 | $0.76 | -18.28% |
| Aug 07, 2024 | $0.89 | $0.92 | +3.37% |
| May 08, 2024 | $1.20 | $1.08 | -10.00% |
| Mar 20, 2024 | $1.41 | $1.53 | +8.51% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does FGI Industries Ltd (FGI) report earnings?
FGI Industries Ltd (FGI) is schdueled to report earning on Mar 31, 2025, TBA Not Confirmed.
What is FGI Industries Ltd (FGI) earnings time?
FGI Industries Ltd (FGI) earnings time is at Mar 31, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is FGI EPS forecast?
FGI EPS forecast for the fiscal quarter 2024 (Q4) is -$0.02.
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