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Safe & Green Holdings to deliver first sustainable modular unit

EditorIsmeta Mujdragic
Published 05/03/2024, 12:14 PM
SGBX
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MIAMI - Safe & Green Holdings Corp. (NASDAQ: SGBX), a company specializing in modular construction, is poised to make a significant delivery of its first sustainable modular unit to a notable quick-service restaurant in the Pacific Northwest. The unit, developed by subsidiary SG Echo, has passed its final plant inspection and is scheduled for shipment later in the second quarter of 2024.

David Cross, Vice President of Business Development at Safe & Green Holdings, shared his optimism about the venture, stating that the successful inspection marks a critical step in the company's efforts to transform sustainable construction within the restaurant sector. Paul Galvin, Chairman and CEO, highlighted the strategic position of the company's Durant, Oklahoma facility in meeting commercial needs across the United States.

Safe & Green Holdings Corp. operates with a focus on developing, designing, and fabricating modular structures that cater to the increasing demand for environmentally friendly construction solutions.

The delivery of the modular unit is anticipated to be a landmark event in the company's history and a testament to its capabilities in serving nationwide clients with sustainable options.

This news is based on a press release statement from Safe & Green Holdings Corp.

InvestingPro Insights

As Safe & Green Holdings Corp. (NASDAQ: SGBX) gears up for a significant delivery of its sustainable modular unit, the company's financial metrics provide a mixed outlook. With a market capitalization of just $2.66 million, Safe & Green Holdings is a relatively small player in the modular construction industry. The company's stock is trading at a low Price / Book multiple of 0.48, which could indicate that the stock is potentially undervalued relative to its assets.

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However, the financials also reveal some challenges. The company has been experiencing a decline in revenue, with a -35.04% change over the last twelve months as of Q3 2023. This downturn is further reflected in the company's gross profit margin, which stood at -2.2% during the same period. These figures suggest that despite the company's forward-looking sustainable construction initiatives, it faces significant hurdles in maintaining profitability and growth.

InvestingPro Tips for SGBX highlight the company's significant debt burden and its difficulties in making interest payments, which could be concerning for investors considering the company's negative operating income of -$15.66 million. Additionally, with a history of high price volatility and a stock price that has generally moved in the opposite direction of the market, interested parties should exercise due diligence. For a deeper dive into the financial health and future prospects of Safe & Green Holdings Corp., more InvestingPro Tips are available, providing a comprehensive analysis for informed investment decisions.

For those looking to explore further, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at Investing.com. With a total of 17 additional InvestingPro Tips available, investors can gain a more nuanced understanding of SGBX's financial position and market performance.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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