FGI Industries Ltd. (FGI) Reports Q3 Loss, Tops Revenue Estimates

Company Performance - FGI Industries Ltd. reported a quarterly loss of $0.01 per share, better than the Zacks Consensus Estimate of a loss of $0.03, and compared to earnings of $0.05 per share a year ago, indicating an earnings surprise of 66.67% [1] - The company posted revenues of $36.1 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 17.21%, and up from $29.93 million in the same quarter last year [2] - Over the last four quarters, FGI Industries has exceeded consensus EPS estimates two times and topped consensus revenue estimates twice [2] Stock Performance - FGI Industries shares have declined approximately 40.9% since the beginning of the year, contrasting with the S&P 500's gain of 25.7% [3] - The current consensus EPS estimate for the upcoming quarter is $0.05 on revenues of $31.6 million, while for the current fiscal year, the estimate is -$0.01 on revenues of $122.5 million [7] Industry Outlook - The Retail - Home Furnishings industry, to which FGI Industries belongs, is currently ranked in the bottom 13% of over 250 Zacks industries, indicating potential challenges ahead [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact FGI Industries' stock performance [5]