CN Energy Group. Inc. Files Financial Results For The First Six Months Of Fiscal Year 2023; EPS $(0.09) Vs $0.05 YoY; Revenue $22.67M Up 66.1% YoY
Portfolio Pulse from Happy Mohamed
CN Energy Group. Inc. (NASDAQ:CNEY) reported a 66.1% YoY increase in revenue for the first six months of fiscal year 2023, reaching $22.67 million. The increase was mainly due to a rise in sales volume of activated carbon. However, the company's net loss was $4.17 million, resulting in a loss per share of $0.09, compared to earnings per share of $0.05 in the same period of the previous year. The loss was primarily due to increased research and development costs and expenses related to new customer development. Total assets grew by 44.4% YoY.
August 28, 2023 | 1:09 pm
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NEUTRAL IMPACT
CN Energy Group's H1 FY2023 results show increased revenue but also a net loss due to higher R&D and customer development costs. This mixed financial performance could lead to uncertainty among investors.
While CN Energy Group's increased revenue is a positive sign, the net loss due to increased costs could be a concern for investors. The growth in total assets is a positive sign, but the overall impact on the stock is uncertain due to the mixed financial performance.
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