ZK International Group Co Ltd (ZKIN) reported less than expected earnings this morning for FY 2022.
ZK International Group Co. Ltd reported EPS loss of $0.21 per share. Profits fell 24% year-over-year after reporting an EPS loss of $0.17 per share in its year-ago quarter. The negative growth rate signals that the Basic Materials company isn't performing well amid current economic conditions.
ZK International Group Co. Ltd reported FY 2022 revenue of $102.4 million. The $102.4 million (0%) negative revenue surprise led to 3% growth year-over-year as the firm reported revenue of $99.4 million in its year-ago quarter. The lower earnings growth compared to revenue points to ZK International Group Co. Ltd not being able to improve its profit margin.
The stock is up 12.02% to $0.95 after the report.
ZK International Group Co. Ltd's earnings expanded faster than revenues, signaling widening profit margins.
Trading in the five days leading up to the report earned ZK International Group Co. Ltd a Bullish Sentiment Rank from InvestorsObserver.
Prior to the report, InvestorsObserver gave the stock an overall score of 36.
ZK International Group Co Ltd is engaged in the manufacture and marketing of metal pipes. The company is specialized in producing double-press thin-walled stainless steel tube and fittings, carbon steel tube and fittings, single-press tube and fittings, and stainless-steel strip. The products are used in restaurants, hotel, hospital, firefighting, food, beverage, ship, engine, industrial seawater desalination and systems of direct-drinking water, cold /hot water supply, city water supply, gas of large/middle scale construction projects.
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ZK International Group Co. Ltd Up 12.02% To $0.95 After Earnings
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