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SMG Industries Inc. (SMGI) delivers essential oilfield services and integrated logistics solutions to energy and transportation sectors. This news hub provides investors and industry professionals with direct access to official announcements, strategic developments, and operational updates from the company.
Track SMGI's latest financial results, product innovations, and market expansions through verified press releases and curated news coverage. Key updates include earnings reports, equipment launches, logistics partnerships, and regulatory filings – all critical for assessing the company’s position in industrial chemicals and transportation services.
Discover updates across SMGI’s core operations: oilfield chemical innovations for drilling efficiency, equipment rental program expansions, and logistics network enhancements. Our centralized repository eliminates the need to monitor multiple sources, providing reliable information for informed decision-making.
Bookmark this page for streamlined access to SMGI’s evolving business landscape. Check regularly for new developments impacting the company’s performance in energy services and industrial supply chain solutions.
SMG Industries Reports Record Financial Performance
SMG Industries, Inc. (OTCQB:SMGI) announced record revenues of $19.3 million for Q3 2022, marking a 31% increase year-over-year. For the nine months ending September 30, 2022, revenues reached $53.6 million, up 55% from the previous year. Adjusted EBITDA for Q3 2022 was $903,380, a significant recovery from a negative EBITDA of ($118,892) in Q3 2021. Despite a net loss of $2.8 million, the company is optimistic about future growth through diversification and strategic acquisitions.
SMG Industries (OTCQB: SMGI) reported preliminary unaudited revenues of approximately $18.8 million for Q3 2022, marking a 27% increase from Q3 2021's $14.7 million. For the nine months ended September 30, 2022, revenues reached $53.1 million, a 53% growth compared to the same period in 2021. The revenue surge was attributed to heightened volumes and pricing in the industrial division, along with new brokerage revenues from 5J Logistics Services. Full financial results are expected by November 15, 2022.
SMG Industries, Inc. (OTCQB:SMGI) reported significant revenue growth for FY 2022, with a 73% increase in six-month revenues totaling $34.26 million. Q2 revenues surged by 47.6% to $18.08 million compared to last year, driven by strong activity in the industrial transportation segment. Adjusted gross margins improved to $2.54 million, and positive Adjusted EBITDA reached $742,535. However, the company reported a net loss of $2.98 million for Q2 2022, up from $419,360 in Q2 2021. SMGI aims to expand through acquisitions and is optimistic about future customer demand.
SMG Industries reported preliminary unaudited revenues of approximately $17.7 million for Q2 ended June 30, 2022, marking a 44.5% increase from Q2 2021. For the first half of 2022, revenues were approximately $34.13 million, a 70% rise from the previous year. The growth is attributed to increased volume and pricing in the industrial division and expanded brokerage revenues from 5J Logistics Services. The Company plans to release full financial results by August 15, 2022. SMG focuses on domestic infrastructure logistics through its 5J Transportation Group.
SMG Industries, Inc. (OTCQB:SMGI) reported a strong first quarter in 2022 with revenues reaching $16.1 million, up 112% from $7.6 million in Q1 2021. This performance was driven by growth in its industrial transportation and heavy haul divisions. Gross profit improved to $1.46 million from a loss of $1.1 million year-over-year. SG&A expenses reduced to 15.2% of sales. Despite a net loss of $3.64 million, the company is focused on acquiring additional transportation assets to support growth.
SMG Industries reported a 95% increase in annual revenue, reaching $52.1 million for 2021, compared to $25.4 million in 2020. The company attributes growth to diversification into new business lines, including heavy haul and logistics brokerage. Despite a net loss of $11.4 million, driven by non-cash expenses, total assets increased to $29.2 million. SG&A expenses improved to 16.1% of revenues. Future growth is anticipated, with a focus on organic expansion and potential acquisitions.
SMG Industries Reports Significant Revenue Growth
SMG Industries, Inc. (OTCQB:SMGI) announced preliminary unaudited revenues of approximately $51.7 million for the year ended December 31, 2021, marking an increase of 93% from $26.6 million in 2020. The fourth quarter revenue was around $17.08 million, up by 113% year-over-year. Improved economic activity post-COVID-19 and higher commodity prices contributed to this growth. The company expects to release full audited results by March 30, 2022.
SMG Industries, Inc. (SMGI) reported a remarkable 117% revenue growth in Q3 2021, reaching $14,772,939 compared to Q3 2020. Year-to-date revenues grew 85% to $36,618,358. Despite this growth, the company reported a net loss of $3,928,964 for the quarter, slightly improved from a loss of $3,975,802 in Q3 2020. Total assets increased to $31,326,756. The company refinanced $12.74 million in senior debt, aiming to reduce expenses and improve cash flow.
SMG Industries, Inc. (OTCQB:SMGI) has successfully refinanced its senior secured equipment debt, saving the company over $324,000 per month in cash flow. The refinancing involved two tranches totaling $12.74 million, with favorable terms extending to September 2026. CFO Allen R. Parrott highlighted that this will provide the company with more flexibility to enhance its equipment fleet as the infrastructure logistics market strengthens. A detailed Current Report on the financing completion is expected soon.
