Fenbo Holdings FY23 EPS $(1.86); Revenue $15.25M
Portfolio Pulse from Benzinga Newsdesk
Fenbo Holdings reported a FY23 EPS of $(1.86) with revenue of $15.25M, a slight decrease from the previous year. The company saw a decrease in sales of curling wands and irons by 14.5%, but increases in flat irons and hair straighteners, and other products. Geographically, sales in South America dropped to zero, while North America and Asia saw increases. Gross profit increased due to controlled COVID-19 impacts and stable raw material costs, leading to a higher gross profit margin of 18.6%. However, net income turned to a loss of $0.2M from a profit last year, mainly due to a decrease in other income. Fenbo Holdings also announced the closing of its IPO, offering 1 million shares at $5.00 each, and began trading on the Nasdaq under the symbol 'FEBO'.

April 29, 2024 | 12:18 pm
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NEUTRAL IMPACT
Fenbo Holdings reported a FY23 EPS of $(1.86) with a slight revenue decrease, but an increased gross profit margin. The company's IPO was successful, with shares now trading on Nasdaq.
The mixed financial results with a net loss but improved gross profit margin, combined with the successful IPO and initiation of trading on Nasdaq, suggest a neutral short-term impact. The IPO provides capital and visibility, potentially offsetting the negative earnings report.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100