ToughBuilt Industries, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 20, 2023 at 04:33 pm EST
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ToughBuilt Industries, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 20.63 million compared to USD 30.25 million a year ago. Net loss was USD 14.25 million compared to net income of USD 8.01 million a year ago. Basic loss per share from continuing operations was USD 29.9 compared to basic earnings per share from continuing operations of USD 3.25 a year ago. Diluted loss per share from continuing operations was USD 29.9 compared to diluted earnings per share from continuing operations of USD 1.95 a year ago.
For the nine months, revenue was USD 59.72 million compared to USD 65.35 million a year ago. Net loss was USD 28.25 million compared to USD 16.23 million a year ago. Basic loss per share from continuing operations was USD 89.05 compared to USD 352.2999 a year ago. Diluted loss per share from continuing operations was USD 89.05 compared to USD 352.2999 a year ago.
Toughbuilt Industries, Inc. is engaged in designing, manufacturing, and distributing tools and accessories to the building industry. The Company markets and distributes various home improvement and construction product lines for both Do-It-Yourself (DIY) and professional markets under the TOUGHBUILT brand name. Its business is based on development of products, primarily in tools and hardware category, with particular focus on building and construction industry. Its three categories contain a total of approximately 19 product lines, consists of soft goods, which includes kneepads, tool bags, pouches and tool belts; metal goods, which consists of sawhorses, tool stands and workbench; and utility products, which includes utility knives, aviation snips, shears, lasers and levels, tape measures and chalk reels, striking tools, garden and landscaping tools, and pliers and clamps. It also has various additional categories and product lines in various stages of development.
TOUGHBUILT INDUSTRIES, INC. 
