SMG Industries Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 14, 2023 at 01:26 pm EDT
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SMG Industries Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 21.79 million compared to USD 18.08 million a year ago. Net loss was USD 1.76 million compared to USD 3.02 million a year ago. Basic loss per share from continuing operations was USD 0.04 compared to USD 0.08 a year ago. Diluted loss per share from continuing operations was USD 0.04 compared to USD 0.08 a year ago. Basic loss per share was USD 0.04 compared to USD 0.08 a year ago. Diluted loss per share was USD 0.04 compared to USD 0.08 a year ago.
For the six months, sales was USD 42.66 million compared to USD 34.26 million a year ago. Net loss was USD 5.29 million compared to USD 6.65 million a year ago. Basic loss per share from continuing operations was USD 0.11 compared to USD 0.19 a year ago. Diluted loss per share from continuing operations was USD 0.11 compared to USD 0.19 a year ago. Basic loss per share was USD 0.11 compared to USD 0.19 a year ago. Diluted loss per share was USD 0.11 compared to USD 0.19 a year ago.
SMG Industries Inc. is a transportation services company, which is focused on the domestic logistics market. The Company's primary business objective is to grow its operations and create value for its stockholders through organic growth and strategic acquisitions. Its operating subsidiaries include 5J Trucking LLC, 5J Oilfield Services LLC, 5J Specialized LLC, 5J Transportation LLC and 5J Logistics Services LLC. The Companyâs provides a range of services in transportation, such as transporting infrastructure components, including bridge beams and power generation transformers; transporting wind energy components; heavy haul of production equipment, heat exchangers, coolers, construction equipment, refinery components; super heavy haul over-dimensional permit-required loads up to 500 thousand pounds for engineered projects; transportation of natural gas compressors; flatbed freight; drilling rig relocation for drilling contractors and oil and gas operators; and freight brokerage.
SMG INDUSTRIES INC. 
