UNIQUE LOGISTICS INTL INC - UNQL STOCK NEWS

Unique Logistics International, Inc. (OTCMKTS: UNQL) reported its third fiscal quarter results for the period ending February 28, 2023. The company experienced a net income of $0.7 million, a significant recovery from a loss of $4.9 million in the same quarter last year. Despite the gains, the quarter saw a decline in revenue to $49.6 million from $250.4 million, attributed to a downturn in the shipping market and reduced prices, especially in air freight.

The company closed on acquisitions on February 21, 2023, expected to enhance revenue in future quarters. Year-to-date, net income reached $7.3 million, up from $1.6 million. The working capital deficit stood at $9.7 million due to short-term financing for acquisitions. The upcoming merger with Edify Acquisition Corporation (NASDAQ: EAC) is anticipated to strengthen the company's position.

Unique Logistics International reported its third fiscal quarter results, ending February 28, 2023. The company closed key acquisitions on February 21, 2023, expected to enhance revenue starting in the next quarter. The third quarter saw revenues fall to $49.6 million, down from $250.4 million year-over-year, with a net income of $0.7 million, an improvement from a loss of $4.9 million in the same quarter last year. Year-to-date net income reached $7.3 million. The company's gross profit margin improved to 12.8%, while working capital showed a deficit of $9.7 million due to short-term financing for acquisitions. The upcoming merger with Edify Acquisition Corp, valued at $360 million, is expected to provide liquidity for further M&A activities.

Unique Logistics International, Inc. (OTC Markets: UNQL) has successfully closed its acquisition of ten subsidiaries from Unique Logistics Holdings Limited and Frangipani Trade Services, Inc., originally announced on May 5, 2022. This acquisition involves a payment ranging from $22.5 million to $29.675 million, funded through external debt and seller-financed notes. The acquired companies, located in China, Hong Kong, India, Taiwan, the UK, and Vietnam, are expected to increase UNQL's revenue by 40% and operating income by 73%. The acquisition enhances UNQL's logistics capabilities and solidifies its presence in key global markets.

Unique Logistics International, Inc. (OTCMKTS: UNQL) reported its second fiscal quarter results for the period ending November 30, 2022. Revenue reached $88.8 million, down 78% year-over-year, while net income fell 27% to $3.3 million. Despite the revenue decline, net income margin improved from 1% to 4%, reflecting enhanced business margins. Adjusted EBITDA also increased from 2% to 6% compared to the same quarter last year. CEO Sunandan Ray highlighted a normalization in logistics post-COVID, with a rise in customer count and shipping volumes. Management remains optimistic for future growth, focusing on profitability and upcoming acquisitions.

Unique Logistics International has signed a merger agreement with Edify Acquisition Corp, aiming for Unique to become a Nasdaq-listed entity. The merger is expected to provide $35 million in senior secured financing to facilitate acquisitions and enhance working capital. Unique aims to expand in key markets, including Hong Kong, India, Vietnam, and the UK, while improving access to capital. The deal is anticipated to offer growth opportunities and liquidity upon completion.

Unique Logistics International, Inc. (OTCMKTS: UNQL) reported its fiscal results for the quarter ending August 31, 2022. The company experienced a 28% decline in net revenue, reporting $136.5 million compared to $189.8 million in the same period last year, primarily due to reduced shipping prices and market activity. However, adjusted EBITDA rose to $5.1 million, a 50% year-over-year increase, improving margins to 3.8% of revenue. Total assets dropped to $111.7 million, while stockholders' equity improved to $9.2 million.