Caravelle International Group Reprorts FY22 EPS $0.24 Vs $0.11 YoY; Revenue $185.3M Vs $122M YoY
Portfolio Pulse from Happy Mohamed
Caravelle International Group (NASDAQ:CACO) reported FY22 earnings per share of $0.24, up from $0.11 YoY, and revenue of $185.3M, up from $122M YoY. The company's net income also increased to $12.2M in 2022 from $5.3M in 2021. Despite challenges in the global shipping industry, Caravelle is optimistic about its future ventures, including the launch of its CO-Tech wood drying in transit and the export of wood products from Gabon, Africa into the U.S. duty-free.
August 29, 2023 | 1:38 pm
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POSITIVE IMPACT
Caravelle International Group reported strong FY22 results with significant growth in revenue and earnings. The company is also optimistic about its future ventures which could potentially offset any weakness in its shipping business.
The company's strong financial performance and optimistic outlook on future ventures could potentially attract investors, leading to a positive impact on its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100