Margo Caribe - MRGO STOCK NEWS

Margo Caribe, Inc. (MRGO) reported a 5% decline in net sales for Q3 2022, totaling $10.2 million, with a year-to-date decrease of 8% to $40.6 million. Pre-tax income was approximately $299,000 for the quarter and $6.4 million year-to-date, down 30% from the previous year. CEO Michael Spector noted that sales were affected by a major customer discontinuing a program, alongside economic pressures on spending. Despite challenges, e-commerce sales surged 75% year-to-date, and reduced freight costs are expected to improve margins moving forward.

Margo Caribe, Inc. (OTC SYMBOL: MRGO) reported its second quarter results for the period ending June 30, 2022. Net sales reached $16.7 million, a 22% increase from the previous quarter but 14% lower year-over-year. Pre-tax income stood at $3.0 million, with a net income of $2.3 million or $0.58 per share. CEO Michael Spector noted the sales decline was linked to a single customer, and overall margins faced pressure from rising labor and logistics costs. However, the company anticipates improvements as costs normalize. Cash flow remains robust with net debt at approximately $2.1 million, a 73% decrease from the prior quarter.

Margo Caribe, Inc. (OTC SYMBOL: MRGO) reported its first quarter results for 2022, with sales of $13.7 million, a decline of less than 2% year-over-year. Pre-tax income was approximately $3 million, resulting in a net income of $2.3 million, or $0.58 per share. Despite facing challenges from high freight costs and U.S. inflation affecting sales, the company improved product margins through pricing flexibility and operational efficiencies. Cash flow remained strong, with net debt reducing by 30% to approximately $8 million.

Margo Caribe, Inc. (OTC: MRGO) reported a strong performance for fiscal 2021, achieving $52 million in sales, a 21% increase from 2020. Pre-tax income reached $7.6 million, although it declined 9% due to higher logistics costs. The company showed significant growth, with sales up 138% compared to pre-COVID levels in 2019. Additionally, net income was $5.9 million or $1.47 per share. Margo is addressing challenges like supply chain disruptions and rising freight costs while pursuing initiatives to diversify suppliers.

Margo Caribe, Inc. (OTC: MRGO) reported sales of $44 million for the nine-month period ending September 30, 2021, marking a 24% increase year-over-year. The company achieved a pre-tax income of $9.1 million, with a net income per share of $1.84. Despite a 8% decline in net income to $7.3 million, revenue grew 135% compared to pre-COVID levels in 2019. Margo has reduced net debt to $1.3 million and is in the process of securing market-maker sponsors to reestablish stock price quotation.

Margo Caribe, Inc. (OTC: MRGO) reported a stellar financial performance, achieving $42.9 million in revenue for 2020, a 97% increase from 2019. The company also revealed second-quarter 2021 sales of $33.3 million, marking a 51% rise year-over-year. Net income surged to $6.7 million in 2020, up 339%, with a net income per diluted share of $1.92. Significant production capacity expansion is noted, with a new warehouse and robotic lines boosting output threefold. The company continues to build momentum in eCommerce sales, showcasing a solid growth trajectory.