Atlantic International Corp. Reports Over $104 Million in Q2 Revenue and 17% Revenue Growth for the 2nd Quarter
Atlantic International Corp. (OTC: ATLN) reported strong Q2 2024 financial results, marking its first quarter as a public company. Revenue grew 17% year-over-year to $104.6 million, driven by customer base expansion and increased demand for core services. The company's gross profit was $11.5 million, representing 11.0% of revenue. Atlantic's customer base grew 10% quarter-over-quarter to approximately 1,100.
Operational highlights include the successful opening of a new UPS logistics center in Rock Hill, South Carolina, and ongoing investments in technology and infrastructure. Atlantic is targeting combined annual revenue exceeding $1 billion in 2025, including acquisitions. For Q3 2024, the company expects revenue between $105-$115 million, with anticipated margin improvements.
Atlantic International Corp. (OTC: ATLN) ha riportato forti risultati finanziari per il secondo trimestre del 2024, segnando il suo primo trimestre come azienda pubblica. Il fatturato è cresciuto del 17% rispetto all'anno precedente, raggiungendo i 104,6 milioni di dollari, spinto dall'espansione della base clienti e dall'aumento della domanda per i servizi core. Il profitto lordo dell'azienda è stato di 11,5 milioni di dollari, che rappresenta l'11,0% del fatturato. La base clienti di Atlantic è aumentata del 10% rispetto al trimestre precedente, raggiungendo circa 1.100 clienti.
I punti salienti operativi includono l'apertura con successo di un nuovo centro logistico UPS a Rock Hill, Carolina del Sud, e investimenti in corso in tecnologia e infrastrutture. Atlantic punta a raggiungere un fatturato annuale combinato superiore a 1 miliardo di dollari entro il 2025, comprensivo di acquisizioni. Per il terzo trimestre del 2024, l'azienda prevede un fatturato compreso tra 105 e 115 milioni di dollari, con miglioramenti previsti nei margini.
Atlantic International Corp. (OTC: ATLN) informó resultados financieros sólidos para el segundo trimestre de 2024, marcando su primer trimestre como empresa pública. Los ingresos crecieron un 17% interanual alcanzando los 104.6 millones de dólares, impulsados por la expansión de la base de clientes y la creciente demanda de servicios centrales. El beneficio bruto de la empresa fue de 11.5 millones de dólares, representando el 11.0% de los ingresos. La base de clientes de Atlantic creció un 10% trimestre a trimestre, alcanzando aproximadamente 1,100.
Los aspectos destacados operativos incluyen la apertura exitosa de un nuevo centro logístico de UPS en Rock Hill, Carolina del Sur, y las inversiones continuas en tecnología e infraestructura. Atlantic se propone superar los 1,000 millones de dólares en ingresos anuales combinados para 2025, incluidas las adquisiciones. Para el tercer trimestre de 2024, la empresa espera ingresos entre 105 y 115 millones de dólares, con mejoras anticipadas en los márgenes.
애틀란틱 인터내셔널 코프 (OTC: ATLN)는 2024년 2분기 재무 결과를 발표하며, 공기업으로서의 첫 분기를 기념했습니다. 수익은 전년 대비 17% 증가하여 1억 460만 달러에 달했습니다, 이는 고객 기반의 확장과 핵심 서비스에 대한 수요 증가에 힘입은 것입니다. 회사의 총 이익은 1150만 달러로, 수익의 11.0%를 차지했습니다. 애틀란틱의 고객 기반은 전 분기 대비 10% 증가하여 약 1,100명에 달했습니다.
운영의 주요 사항으로는 사우스 캐롤라이나 록 힐에 위치한 새로운 UPS 물류 센터의 성공적인 개소와 기술 및 인프라에 대한 지속적인 투자 등이 있습니다. 애틀란틱은 2025년까지 인수 합병 포함 연간 수익이 10억 달러를 초과하는 것을 목표로 하고 있습니다. 2024년 3분기에는 예상 수익이 1억 5백만 ~ 1억 1천5백만 달러 사이일 것으로 보이며, 이익률 개선이 예상됩니다.
Atlantic International Corp. (OTC: ATLN) a publié des résultats financiers solides pour le deuxième trimestre 2024, marquant son premier trimestre en tant qu'entreprise publique. Le chiffre d'affaires a augmenté de 17 % par rapport à l'année précédente, atteignant 104,6 millions de dollars, soutenu par l'expansion de la base de clients et la demande croissante pour les services principaux. Le bénéfice brut de l'entreprise s'élevait à 11,5 millions de dollars, représentant 11,0 % du chiffre d'affaires. La base de clients d'Atlantic a augmenté de 10 % par rapport au trimestre précédent, atteignant environ 1 100.
Les faits saillants opérationnels incluent l'ouverture réussie d'un nouveau centre logistique UPS à Rock Hill, en Caroline du Sud, et des investissements continus dans la technologie et l'infrastructure. Atlantic vise à dépasser un chiffre d'affaires annuel combiné de 1 milliard de dollars d'ici 2025, y compris les acquisitions. Pour le troisième trimestre 2024, l'entreprise prévoit un chiffre d'affaires compris entre 105 et 115 millions de dollars, avec des améliorations de marge anticipées.
Atlantic International Corp. (OTC: ATLN) hat starke Finanzergebnisse für das zweite Quartal 2024 gemeldet und damit sein erstes Quartal als börsennotiertes Unternehmen markiert. Der Umsatz wuchs um 17% im Jahresvergleich auf 104,6 Millionen Dollar, angetrieben durch die Erweiterung der Kundenbasis und die steigende Nachfrage nach Kernleistungen. Der Bruttogewinn des Unternehmens betrug 11,5 Millionen Dollar, was 11,0% des Umsatzes entspricht. Die Kundenbasis von Atlantic wuchs im Quartalsvergleich um 10% auf etwa 1.100.
Zu den betrieblichen Höhepunkten gehören die erfolgreiche Eröffnung eines neuen UPS-Logistikzentrums in Rock Hill, South Carolina, sowie laufende Investitionen in Technologie und Infrastruktur. Atlantic strebt an, im Jahr 2025 einen kombinierten Jahresumsatz von über 1 Milliarde Dollar zu erzielen, einschließlich Übernahmen. Für das dritte Quartal 2024 erwartet das Unternehmen einen Umsatz zwischen 105 und 115 Millionen Dollar, mit erwarteten Margenverbesserungen.
- Revenue increased by 17% year-over-year to $104.6 million in Q2 2024
- Customer base grew by 10% quarter-over-quarter to approximately 1,100
- Successful expansion with the opening of a new UPS logistics center in Rock Hill, South Carolina
- Targeting combined annual revenue of over $1 billion in 2025, including acquisitions
- Q3 2024 revenue projected to be between $105-$115 million
- Gross profit margin decreased from 12.2% in Q2 2023 to 11.0% in Q2 2024
- Expansion costs impacted margins due to growth initiatives and onboarding of new clients
Growth Follows Atlantic’s Completed Merger with Lyneer Staffing Solutions, Creating a Top 40 U.S. Staffing Firm with Over
ENGLEWOOD CLIFFS, N.J., Aug. 15, 2024 (GLOBE NEWSWIRE) -- Atlantic International Corp. (“Atlantic”) (OTC: ATLN), a leading provider of strategic staffing outsourced services and workforce solutions, today announced its financial results for the second quarter ended June 30, 2024. “Atlantic achieved substantial revenue growth in the second quarter, which was our first reporting period as a newly public company. We are extremely proud of all our employees who work every day to deliver e-commerce logistics on time and at the right price for our customers,” said Jeffrey Jagid, Chief Executive Officer.
Key Q2 Financial Highlights:
- Revenue: Atlantic International Corp. reported revenue of
- Gross Profit: Gross profit for the quarter was
Margin expansion is expected as we leverage our in-place executive team, existing back-office operations and add higher margin business, including permanent staffing revenues. We expect our next acquisition to bring an array of technology customers, which we expect to result in higher margin revenue and further diversify our customer base.
- Total Customers: As of June 30, 2024, we had approximately 1,100 total customers, compared to 1,000 as of March 31, 2024, a
Operational Highlights:
- Expansion Initiatives: Atlantic International Corp.’s subsidiary Lyneer continues to execute on its strategic growth initiatives, including the expansion into new markets and the launch of innovative product lines. We are targeting combined annual revenue in excess of
- New Onsite Locations: The company successfully opened the Rock Hill, South Carolina logistics center on behalf of UPS, bolstering our position in the fast-growing Southeast market and enhancing our service capabilities for the world’s largest global logistics provider.
- Investments in Operating Platform and M&A Expertise: We are making investments in our technology and infrastructure, including personnel, today, that we anticipate will deliver long-term results. Our newly established operating platform can service 3x Atlantic’s revenue run-rate, while delivering improved client service and satisfaction.
Management Commentary
“We are pleased to report another strong quarter, driven by solid revenue growth under the Atlantic brand,” said Jeffrey Jagid, CEO. “Our focus on operational excellence and strategic expansion has enabled us to deliver robust results and strengthen our market position. Looking ahead, we remain committed to growing topline revenue through new facilitates with our existing clients, through new customer acquisition, and through strategic M&A, creating significant value for our shareholders. We also look forward to our pending uplisting to a National Securities Exchange.”
Outlook
For the third quarter of 2024, Atlantic International Corp. expects revenue to be in the range of
About Atlantic International Corp.
Atlantic International Corp. (“Atlantic”) is a leading strategic staffing, outsourced services, and workforce solutions company executing a high-growth strategy. Through its principal operating subsidiary, Lyneer Investments LLC (“Lyneer”), Atlantic’s approximately 300 employees generated over
For more information about Lyneer Staffing Solutions please visit www.lyneer.com.
For more information about Atlantic International Corp., please visit www.atlantic-international.com.
Forward-Looking Statements & Safe Harbor Statement
With the exception of the historical information contained in this press release, the matters described herein, may contain “forward-looking statements” relating to the business of Atlantic, and its subsidiary company Lyneer. These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects,” or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors.
Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
Investor Relations Contact
Kale Fein
kfein@atlantic-international.com
+1 (213) 915-6414
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