Safe & Green Holdings Corp. - SGBX STOCK NEWS

SG Blocks reported $8.5 million in revenue for Q4 2021, marking a 15% increase year-over-year. The total revenue for 2021 reached $38.3 million, representing a 338% growth compared to 2020. Despite revenue growth, gross profit dropped to $0.2 million from $1.6 million in Q4 2020 due to increased costs and losses from projects. SG Blocks ended 2021 with $13 million in cash and a construction pipeline valued at $750 million. The company aims for positive cash flow in 2022, with projects in the pipeline potentially generating $40-50 million in cash.

SG Blocks, Inc. (NASDAQ: SGBX) has announced a conference call scheduled for April 18, 2022, at 4:30 p.m. ET to discuss its fourth quarter and full-year results for 2021. This will follow a press release detailing financial results beforehand. The call will be hosted by CEO Paul Galvin, with access available via toll-free and international dial-in numbers. A replay will be available until May 2, 2022.

SG Blocks specializes in modular structures using code-engineered cargo shipping containers, aiming for sustainable construction.

SG Blocks (NASDAQ: SGBX) announced the selection of Douglas Elliman as the broker for its 58-acre waterfront property in Lago Vista, Texas, listed at $15 million. The property, located on Lake Travis, has approved plans for 200 condominiums and a marina. CEO Paul Galvin emphasized that selling the land is a strategic decision to lock in gains from its value increase. The proceeds are expected to reduce debt, enhance cash position, and improve overall liquidity without diluting shares.

SG Blocks (NASDAQ: SGBX) announced a significant contract through its subsidiary SG ECHO, marking its largest deal to date. The purchase order consists of over 100 modular units, expected to generate approximately $6 million in revenue. Completion of the units is slated for the end of Q2 2022. This contract enhances the company's production efficiency and supports ongoing relationships with clients, demonstrating SG Blocks' scalability in the modular structures market.

SG Blocks (NASDAQ: SGBX) has secured a ten-year exclusive distribution license for the Sanitec Microwave Disinfection Unit in New York, with options to expand to other states. This partnership with Sanitec Industries, known for its sustainable waste management solutions, positions SG Blocks to enhance its offerings in eco-friendly waste management. The Sanitec unit transforms hazardous biomedical waste into safe, non-infectious material. A new entity, SG Environmental Solutions Corp., will focus on sustainable infrastructure products.

SG Blocks, Inc. (SGBX) has received approval from the Camden County Joint Development Authority for a real estate transaction involving approximately 33 acres aimed at constructing a 114,000 square foot manufacturing facility in St. Marys, Georgia. This facility is expected to create around 125 jobs within the first three years and support the Cumberland Inlet development project, which will include 3,000 residential units. The initiative signifies SG Blocks' commitment to enhancing local employment and expanding its operational capacity.

SG Blocks is leading the seed round investment in Moliving, a luxury nomadic hospitality solution, to enhance modular living and hospitality. The funds will support the construction of 60 units for Moliving's flagship hotel in Hudson Valley, with potential for 400 additional units through five planned locations in 2023. This collaboration highlights the synergy between SG Blocks and Moliving, as both aim to meet market demands sustainably. The flagship hotel, Moliving at Hurley House, is set to open in Summer 2022.

SG Blocks (NASDAQ: SGBX) announced the purchase of a 114-acre mixed-use site in Durant, OK, expected to yield approximately 680,000 square feet of industrial manufacturing space and 300 residential units. The project, with an estimated cost of $200 million, will be financed through company equity, bank debt, and local incentives. The anticipated development aims to address workforce housing needs and create quality jobs in the region. Groundbreaking is projected for Q4 2022, with a focus on vertical integration in development, manufacturing, and leasing activities.

SG Blocks (NASDAQ: SGBX) announced a strategic shift involving its 58-acre Lago Vista property near Austin, initially acquired for $3.5 million in Q2 2021. Due to substantial land appreciation, the company plans to sell the site to capitalize on profits. The property has gained significant value as it is in a hot real estate market, with approved development plans enhancing its attractiveness to buyers. CEO Paul Galvin emphasized the unique opportunity presented by the lakefront site, highlighting its rapid value increase and scarcity of similar properties.