- good natured Products (GDNP) has announced unaudited preliminary results for Q3 2022
- Preliminary revenue for Q3 2022 is anticipated to be $25 million to $27 million, an increase of between 40 to 50 per cent YOY
- CEO Paul Antoniadis sat down with Sabrina Cuthbert to discuss the results
- good natured Products offers a broad assortment of plant-based products made from rapidly renewable resources instead of fossil fuels
- good natured Products Inc. (GDNP) opened trading at C$0.265
good natured Products (GDNP) has announced unaudited preliminary results for Q3 2022.
It anticipates the following figures:
- Revenue between $25 million to $27 million, up approximately 40-50 per cent YoY
- Variable gross margin between 33-35 per cent compared to 28.6 per cent for Q3 2021
- Gross margin between 26-28 per cent compared to 22.3 per cent for Q3 2021
Revenue in Q3 2022 was driven by strong organic growth in the company’s packaging business group, increases in average selling price, and contributions from the recent acquisition of FormTex Plastics based in Houston, Texas.
CEO Paul Antoniadis sat down with Sabrina Cuthbert to discuss the results.
“Our Q3 2022 revenue growth and gross margin rates are at the high end of the targeted ranges, which reflects our continued focus on delivering more revenue mix contribution from our Packaging business group.
We anticipate customer demand for sustainable, earth-friendly products, especially within staple goods categories like food packaging, to remain resilient. However, we also recognize that further deterioration in macroeconomic conditions in the fourth quarter could lead to reductions in our average selling price and lower demand for industrial products as packaging converters adjust to new demand levels. We believe our commitment to prioritizing customer service, tightly managing our supply chain, and striving to self-fund our operations during this period of macro uncertainty is what will set us apart from our competition.”
good natured Products offers a broad assortment of plant-based products made from rapidly renewable resources instead of fossil fuels.
good natured Products Inc. (GDNP) opened trading at C$0.265.