Financial Performance - Consolidated revenues for Q3 2024 reached $201.7 million, a 10.7% increase compared to the prior year period[2] - Net income improved to $1.2 million, a significant turnaround from a loss of $5.2 million in the prior year, marking a $6.3 million improvement[2] - Year-to-date consolidated revenues totaled $484.7 million, down from $555.4 million in the prior year[3] - Year-to-date net income increased to $3.3 million, up from a loss of $6.1 million in the prior year, representing a $9.3 million improvement[3] - EBITDA for Q3 2024 was $2.9 million, compared to a negative $4.4 million in the prior year, reflecting a $7.4 million improvement[2] - Basic EPS improved to $0.25 compared to a negative $1.39 in the prior year period[2] - Net income for the nine months ended September 30, 2024, was $3,099,000, a significant improvement from a net loss of $6,171,000 in the same period of 2023[17] - EBITDA for the nine months ended September 30, 2024, was $6,498,000, compared to a loss of $4,316,000 in the same period of 2023, indicating a positive trend in operational performance[20] - Gross profit for the nine months ended September 30, 2024, was $4,635,000, down from $10,654,000 in the same period of 2023, reflecting challenges in revenue generation[20] - The net income margin attributable to Sadot Group Inc. for the nine months ended September 30, 2024, was 0.6%, an improvement from a margin of -1.1% in the same period of 2023[20] - The EBITDA margin attributable to Sadot Group Inc. for the nine months ended September 30, 2024, was 1.4%, compared to -0.8% in the same period of 2023[20] Cash Flow and Working Capital - The company reported a net cash provided by operating activities of $6,980,000 for the nine months ended September 30, 2024, compared to a cash used of $8,679,000 in the same period of 2023[17] - Working capital surplus increased to $18.9 million from $8.3 million at the end of 2023[2] - Cash at the end of the period for September 30, 2024, was $962,000, down from $2,422,000 at the end of September 30, 2023[17] - The company experienced a significant change in accounts receivable, with a net increase of $20,275,000 for the nine months ended September 30, 2024, compared to a decrease of $61,155,000 in the same period of 2023[17] - The company reported a total adjustment of $3,881,000 for the nine months ended September 30, 2024, compared to an adjustment of -$2,508,000 in the same period of 2023[17] Business Operations - The company completed 24 transactions of over 0.5 million metric tons of agri-commodities across 14 countries during Q3 2024[5] - Revenue growth in the core commodity trading business was 11.6% year-over-year in the latest three-month period[4] - The company is negotiating for the acquisition of an agricultural farming property in Indonesia[6] Forward-Looking Statements - The company cautions that forward-looking statements may involve risks and uncertainties that could cause actual results to differ materially from expectations[21]
Sadot (SDOT) - 2024 Q3 - Quarterly Results