Welcome to our dedicated page for Blue Star Foods news (Ticker: BSFC), a resource for investors and traders seeking the latest updates and insights on Blue Star Foods stock.
Blue Star Foods Corp. (BSFC) provides investors and industry stakeholders with comprehensive access to its latest corporate developments through this centralized news hub. As an international seafood processor prioritizing sustainable practices and supply chain transparency, BSFC’s news coverage spans operational milestones, environmental initiatives, and market expansions.
This resource aggregates official press releases and verified updates, including earnings reports, packaging innovations, and traceability advancements. Users gain insights into the company’s patented eco-friendly packaging systems, multinational facility operations, and quality assurance protocols that define its position in the global seafood sector.
Bookmark this page for direct access to BSFC’s evolving strategies in sustainable seafood processing and international trade dynamics. Regular updates ensure stakeholders remain informed about developments impacting the company’s role within the $150B+ global seafood economy.
Blue Star Foods Corp (NASDAQ: BSFC), an integrated ESG sustainable seafood company, has increased shipments to Just Food For Dogs under a contract expecting to generate approximately $4 million in revenue. The shipment includes 1,150 tons (or 2,500,000 lbs.) of certified, wild-caught cod. CEO John Keeler highlighted the significance of this new category for the company, emphasizing the sustainability of their cod fishery certified by the Marine Stewardship Council.
Just Food For Dogs, based in California, aims to improve pet health through nutritionally balanced meals. This partnership reflects Blue Star's commitment to utilizing advanced aquaculture technology and sustainable practices in seafood sourcing.
Blue Star Foods Corp. (NASDAQ: BSFC) reported significant financial results for the year ended December 31, 2022, achieving a 28% increase in revenues to $12.8 million, surpassing previous preliminary estimates. Key aspects included $1.4 million in revenue from its Recirculatory Aquaculture System (RAS) operations. However, the company faced challenges, reporting a net loss of $13.2 million, affected by $9.7 million in non-cash impairment charges and increased operating expenses. Adjusted EBITDA loss rose to $3.5 million. Despite these drawbacks, business developments included a new supply agreement potentially worth $4 million annually and ongoing expansion plans for RAS facilities. Management anticipates improvements in 2023 as operational expenses stabilize.
Blue Star Foods Corp (NASDAQ: BSFC) reported a preliminary unaudited revenue growth of 22% to approximately $2.0 million for Q4 2022 and 20% to approximately $12.0 million for the full year 2022. The increase is attributed to rising demand from retail partners for imported crab meat and successful performance in their Recirculatory Aquaculture Systems (RAS) segments, particularly with salmon in Canada and soft-shell crab in South Carolina. The company expects to file its annual report on Form 10-K by April 17, 2023.
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