Loop Industries Reports Q4 Net Income Of $5.42M Vs $(14.27)M Last Year
Portfolio Pulse from Benzinga Newsdesk
Loop Industries reported Q4 net income of $5.42 million, compared to a loss of $14.27 million last year. Revenues for the quarter were $0.01 million, resulting from the delivery of initial volumes of Loop™ PET resin produced at the Terrebonne Facility.
May 18, 2023 | 9:46 pm
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Loop Industries reported a Q4 net income of $5.42 million and revenues of $0.01 million from initial Loop™ PET resin deliveries.
Loop Industries reported a significant improvement in net income compared to last year, and generated revenues for the first time. This positive financial performance is likely to have a short-term positive impact on the stock price, as it demonstrates progress in the company's operations and product delivery.
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