"I am pleased to report that the implementation of previous discussed operating efficiencies, cost containment strategies and extra production capacity produced significantly improved gross profit margins on record sales for Greystone's third quarter," stated CEO Warren Kruger.
Q3 may have marked an important turnaround for GLGI. IF they can sustain those margins, the stock should be trading closer to $1. The CEO also gave a positive outlook for their seasonally strong Q4:
Kruger continued, "The increased production throughput helped lower fixed costs allocation per pallet produced thus driving increased margins on greater sales volume. The fourth quarter of our corporate year has historically been strong and with our backlog I look for that trend to hold. We will continue to invest in equipment and facilities to drive growth and shareholder value."
Q4 could be a monster with higher revenues & higher margins. Stock could double from here and still be very undervalued imo. Probably why the CEO continues to buy, adding another 50K shares this week:
https://www.sec.gov/Archives/edgar/data/1088413/000149315217004159/xslF345X03/form4.xml
https://www.sec.gov/Archives/edgar/data/1088413/000149315217004162/xslF345X03/form4.xml
https://www.sec.gov/Archives/edgar/data/1088413/000149315217004165/xslF345X03/form4.xml
Recent GLGI News
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/12/2024 05:36:58 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 01/16/2024 07:10:55 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/02/2024 03:47:19 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 10/31/2023 09:17:39 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 10/17/2023 05:58:48 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 10/16/2023 08:30:31 PM
- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 08/28/2023 09:28:37 PM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 08/22/2023 06:22:11 PM
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