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Sep 30, 2022
A-Mark Precious Metals Q1 2023 Earnings Report
A-Mark Precious Metals reported an increase in diluted earnings per share and gross profit for Q1 2023.
Key Takeaways
A-Mark Precious Metals reported a decrease in revenue but an increase in gross profit and diluted earnings per share for the fiscal first quarter ended September 30, 2022. Revenues decreased 6% to $1.90 billion, while gross profit increased 37% to $76.6 million. Diluted earnings per share increased 69% to $1.83.
Diluted earnings per share increased to $1.83, up from $1.08 in Q1 FY 2022.
Gross profit increased 37% year-over-year for the quarter.
Gold ounces sold decreased 6% to 629,000 ounces.
Silver ounces sold increased 28% to 35.9 million ounces.
Forward Guidance
A-Mark expects continued growth and profitability through strategic acquisitions and investments.
Positive Outlook
- The company's business model will allow them to realize growth and profitability over the long term.
- Favorable market conditions have continued to positively impact the business.
- Continued supply constraints have positively impacted the business.
- Elevated demand in both the retail and wholesale segments have continued to positively impact the business.
- JMB closed the asset acquisition of BGASC
Historical Earnings Impact
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Avg. Return Before/After Earnings
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