STOCK TITAN

Safe & Green Holdings Corp. - $SGBX STOCK NEWS

Welcome to our dedicated page for Safe & Green Holdings news (Ticker: $SGBX), a resource for investors and traders seeking the latest updates and insights on Safe & Green Holdings stock.

Safe & Green Holdings Corp. (NASDAQ: SGBX) is a pioneering company in modular construction solutions. Leveraging the structural integrity and sustainability of code-engineered cargo shipping containers, the company provides innovative building modules that serve both residential and commercial markets. These modules can be used as permanent or temporary structures, making them ideal for a wide range of applications, including health care facilities, real estate development, and environmental projects.

Safe & Green Holdings operates through four primary segments: construction services, medical, real estate development, and environmental. The majority of the company's revenue comes from its construction segment, which includes the manufacturing unit SG ECHO and various modular projects. The company's technology enables faster construction, lower costs, and more sustainable building practices, making it a leader in green construction.

Since its inception in 2007, Safe & Green Holdings has focused on repurposing shipping containers to meet safe and sustainable housing needs, particularly in hurricane and earthquake-prone areas. The company recently received recertification from the International Code Council (ICC) for its shipping containers, ensuring they meet stringent safety and performance standards. This achievement underscores the company's commitment to quality and innovation in modular construction.

Safe & Green Holdings' projects are designed to exceed typical building code requirements, offering developers, architects, and builders a high-value, eco-friendly construction option. The company's dedication to reducing the global carbon footprint is evident through its sustainable building practices and use of recycled materials. Partnering with industry leaders and constantly evolving its technology, Safe & Green Holdings continues to set new benchmarks in the modular construction industry.

For more information, visit the company's investor relations page or contact Crescendo Communications, LLC at (212) 671-1020 or via email at SGBX@crescendo-ir.com.

Rhea-AI Summary

Safe & Green Holdings (NASDAQ: SGBX) has announced an expanded contract to construct 11 additional technology modules for a U.S. government contractor, valued at over $1 million. This expansion increases the total number of container modules ordered for this military-related agency to 26 units.

Paul Galvin, CEO, emphasized the company's ability to meet high standards and its commitment to supporting the U.S. military. David Cross, Vice President of Business Development, highlighted the versatility and quality of the modules, which are designed with advanced 3D technology and constructed using either wood or steel frames. The units will be manufactured in Durant, Oklahoma, and delivered to a site in Virginia.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.75%
Tags
none
-
Rhea-AI Summary

Safe & Green Holdings (NASDAQ: SGBX) has promoted David Cross to Senior Vice President of Sales and Business Development. Cross, a Maine Maritime Academy graduate, has a background with Maersk Line and COSCO Lines. He pioneered the PACE concept, using shipping containers for construction projects, and has testified before the 111th Congress on container applications for FEMA. CEO Paul Galvin praised Cross's contributions and leadership, highlighting his role in the company's success and innovation in modular construction.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.78%
Tags
management
-
Rhea-AI Summary

Safe & Green Holdings (NASDAQ: SGBX) has received recertification from the International Code Council (ICC) for its use of shipping containers in modular construction.

This recertification ensures compliance with stringent safety and performance standards, making it easier for building departments to approve projects using these containers.

Paul Galvin, CEO, highlighted that securing the ESR certification streamlines project approvals and reinforces the company's commitment to using recycled materials in construction. The company first received this certification in 2017.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
5.23%
Tags
none
Rhea-AI Summary

Safe & Green Holdings reported Q1 2024 results with $1M in revenue, a significant drop from $5.5M in Q1 2023, and a net loss of $4M compared to $3.5M last year. However, gross profit improved to $372K from a loss of $62K. They secured various contracts and partnerships, including $8M in new business for their SG Echo subsidiary. Cost-saving measures are expected to save $2.5M annually in 2024. The company anticipates cash flow positivity by the end of 2024. Financial improvements include $450K from a warrant inducement agreement and $4M from a securities purchase agreement, bolstering cash to $740K by March 31, 2024.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
36.66%
Tags
-
Rhea-AI Summary

Safe & Green Holdings Corp. (NASDAQ: SGBX) announced an increase of approximately $1 million in a military contract for the construction of 11 additional modular office containers. This expansion highlights the company's expertise in modular construction and reflects the exceptional quality of their products.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
9.63%
Tags
none
-
Rhea-AI Summary

Safe & Green Holdings Corp. (NASDAQ: SGBX) has received an expanded scope of work from a government contractor to refurbish 15 container modules for a major U.S. agency. The upgrade will be carried out at their facility in Durant, Oklahoma, and the refurbished units will be transported to a site in Virginia. This collaboration highlights the company's expertise in modular construction and commitment to supporting the military.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-13.45%
Tags
none
Rhea-AI Summary

Safe & Green Holdings Corp. reported a 30% increase in construction services revenue in 2023 compared to 2022. The company successfully spun-out Safe and Green Development as a Nasdaq listed entity. Cost-saving initiatives are expected to save $2.5 million in annual expenses in 2024. Safe & Green Holdings is partnering with the Tunnel to Towers Foundation to construct a modular home showcasing the foundation's initiatives. The Company achieved various milestones, including entering into a Master Purchase Agreement with SG DevCo and receiving new contracts for modular units.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
9.54%
Tags
none
-
Rhea-AI Summary

Safe & Green Holdings Corp. announced a private placement of $4 million with an institutional investor, offering shares and warrants at $2.90 per share. The company plans to use the proceeds for general corporate purposes and debt repayment. The closing is expected on May 7, 2024. AGP/Alliance Global Partners is the sole placement agent. The securities are not registered under the Securities Act and will be subject to resale restrictions.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-12.45%
Tags
none
-
Rhea-AI Summary

Safe & Green Holdings Corp's subsidiary, SG Echo, is set to deliver its first eco-friendly modular unit to a prominent quick-service restaurant customer in the Pacific Northwest. The unit has passed its final plant inspection and will be shipped in the second quarter of 2024. Safe & Green Holdings is excited about the partnership and sees it as the beginning of a significant relationship. The company's Durant, OK facility is strategically positioned to serve commercial markets nationwide, showcasing its ability to provide sustainable solutions.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
89.08%
Tags
none
Rhea-AI Summary

Safe & Green Holdings Corp. (NASDAQ: SGBX) collaborates with Britten Inc., selling modular units certified safe and efficient by the International Code Council. The AC 462 designation streamlines approvals and compliance, benefiting clients and stakeholders. The partnership aims to promote sustainable building practices and support creative industries.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
34.4%
Tags
none

FAQ

What does Safe & Green Holdings Corp. do?

Safe & Green Holdings Corp. provides modular construction solutions using both cargo shipping containers and wood for residential and commercial use.

What are the primary segments of Safe & Green Holdings Corp.?

The company operates in four segments: construction services, medical, real estate development, and environmental.

What is the main revenue source for Safe & Green Holdings Corp.?

The majority of the company's revenue comes from the construction segment, including its manufacturing unit SG ECHO and various modular projects.

How does Safe & Green Holdings Corp. contribute to sustainable construction?

The company repurposes shipping containers, reducing the need for new materials and lowering the carbon footprint, while providing safe and sustainable housing options.

What recent certifications has Safe & Green Holdings Corp. received?

The company recently received recertification from the International Code Council (ICC) for its shipping containers, confirming their compliance with safety and performance standards.

What are some applications of Safe & Green Holdings Corp.'s modules?

The modules can be used for residential housing, commercial buildings, health care facilities, and more, offering both permanent and temporary solutions.

When was Safe & Green Holdings Corp. founded?

Safe & Green Holdings Corp. was founded in 2007.

Where can I find more information about Safe & Green Holdings Corp.?

For more information, visit the company's investor relations page or contact Crescendo Communications, LLC at (212) 671-1020 or via email at SGBX@crescendo-ir.com.

What are the benefits of Safe & Green Holdings Corp.'s modular construction?

The company's modular construction offers faster execution, lower costs, higher building value, and extended life, while meeting or exceeding building code requirements.

Who are the key clients of Safe & Green Holdings Corp.?

The company's clients include developers, architects, builders, and property owners seeking innovative and sustainable construction solutions.

Safe & Green Holdings Corp.

Nasdaq:SGBX

SGBX Rankings

SGBX Stock Data

3.94M
10.82M
39.11%
3.85%
2.37%
Other Metal Container Manufacturing
Manufacturing
Link
United States of America
BROOKLYN