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YHGJ Nasdaq· Yunhong Green CTI Ltd
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YHGJ Nasdaq· Yunhong Green CTI Ltd
Earnings report Q3 2023

Yunhong Green CTI, LTD Reports Decrease in Revenue for the Latest Quarter

Segments of revenue

In the latest quarter, Yunhong Green CTI, LTD reported net sales of $1.92 million, a decrease from $2.26 million in the same quarter of the previous year. The company's revenue for the nine-month period ended September 30, 2023, was $11.03 million, compared to $12.48 million in the same period of 2022.

Strengths

Despite the decrease in revenue, the company highlighted several factors that impacted their performance. They mentioned individual supply issues that created increased pricing in the market, particularly in the helium market. The market price of helium remains elevated, although less so than in the middle of 2022. Additionally, the company discontinued certain products in 2022 for which they were unable to secure adequate inflationary price increases. Lastly, the company noted that their revenue tends to have a low point in the third quarter and a high point in the fourth quarter, indicating a seasonal pattern.

Challenges

One of the challenges faced by Yunhong Green CTI, LTD is the inconsistency in order flow and revenue from the sale of commercial films. During the three and nine-month periods ended September 30, 2023, revenues from commercial films were $68,000 and $746,000, respectively, compared to $537,000 and $1.9 million in the same periods of 2022. The company attributed this inconsistency to industry consolidation, including their customers, as well as competition from a large number of competitors.

Noteworthy

It is worth noting that Yunhong Green CTI, LTD reported a gross profit of $20,000 in the latest quarter, compared to $242,000 in the same quarter of the previous year. The company also reported a net loss from continuing operations of $720,000 for the nine-month period ended September 30, 2023, an improvement from a net loss of $1.39 million in the same period of 2022.

Summary

Yunhong Green CTI, LTD experienced a decrease in revenue for the latest quarter, primarily driven by supply issues and discontinued products. However, the company highlighted the impact of individual supply issues on pricing and mentioned that the market price of helium remains elevated. The company also noted a seasonal pattern in their revenue, with the third quarter being a low point. Additionally, the inconsistency in order flow and revenue from commercial films presents a challenge for the company. Overall, Yunhong Green CTI, LTD's financial performance in the latest quarter reflects a mixed outcome with both strengths and challenges.

Source documents

Form 10-Q  filed on Nov 13, 2023
102 pages scanned

Reference data

Company financials Q3 revenue 1.9M
Analyst estimates Q3 EPS missed by NaN%
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