Sg Blocks, Inc. (SGBX) Reports Q3 Loss of $0.24

Sg Blocks, Inc. (NASDAQ: SGBX) reported Q3 EPS of ($0.24). Revenue for the quarter came in at $2.1 million versus the consensus estimate of $1.54 million.

“The third quarter of 2018 was highlighted by marked improvement with our core gross margin profile,” said Paul Galvin, Chairman and CEO of SG Blocks. “We continue to convert our backlog to revenue while obtaining projects with both new and existing customers – who continue to find innovative new applications for our container-based approach to construction.

“In the third quarter of 2018, we established SG Residential in conjunction with several senior financial services and housing market executives to address sales and financing opportunities within the significant single-family modular housing market. We are currently working on projects to convert our 500-home pipeline into signed contracts, addressing the affordable housing crisis that the United States is facing today.

“I am particularly proud of our recent corporate social responsibility initiatives, including our work with non-profits and community development organizations who see our affordable and rapidly-built modular houses offering as the best solution for the problems they’re facing. In the contiguous United States, we are working with SOLDIER ON as its exclusive modular residences provider to help this organization achieve its goal of providing homeless veterans with safe housing. In Puerto Rico, we are also working with Capital Plus Financial to provide safe and affordable housing to families in low- to moderate- income areas. These initiatives stand as a testament to the values that we hold as a company,” continued Mr. Galvin.

For earnings history and earnings-related data on Sg Blocks, Inc. (SGBX) click here.

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