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) generates news that reflects its transition from a modular construction specialist into an integrated energy and containerized infrastructure platform. Company announcements describe an ongoing rebranding initiative toward Olenox Industries Inc., consolidation of subsidiaries, and an acquire-and-integrate strategy spanning energy, technology, construction, and water-related infrastructure markets.
Recent press releases highlight operational milestones at the company’s wholly owned subsidiaries. Olenox Corp. is presented as a vertically integrated energy company focused on acquiring and optimizing underdeveloped oil and gas assets in Texas, Kansas, and Oklahoma, with updates covering drilling plans, service division mobilization, and partnerships to support AI-based field monitoring and production optimization. These items give investors insight into how the energy development arm is being built out.
News flow also covers the company’s containerized infrastructure activities. Safe & Green Holdings completed the acquisition of Giant Containers Inc., a designer and integrator of custom container-based solutions, and later reported the start of manufacturing on modular enclosure systems for a global industrial equipment manufacturer at a facility in Conroe, Texas. Such releases illustrate how containerized construction capabilities are being applied to industrial and infrastructure projects.
In addition to operational updates, Safe & Green Holdings regularly discloses corporate and capital markets developments. Filings and press releases discuss reverse stock split approvals, registration statements for convertible preferred stock, shareholder meetings, and proxy solicitations. The company has also announced a non-binding letter of intent related to a mothballed, incomplete oil refinery in Rock Springs, Wyoming, and provided shareholder letters outlining its integrated energy strategy and exit from modular home construction.
Investors and observers can use the SGBX news feed on Stock Titan to follow these themes, including energy asset development, containerized infrastructure contracts, technology partnerships, governance events, and the planned rebranding to Olenox Industries. Regular updates provide context on how the company’s strategic repositioning is progressing over time.
SG Blocks has authorized a share repurchase of up to 500,000 shares, valued at approximately $790,000 based on the current share price of $1.58. The company, which had 12 million shares outstanding as of March 31, 2022, aims to bolster shareholder value amidst market challenges. Additionally, SG Blocks plans to sell its Lago Vista development site near Austin, TX, which was purchased less than two years ago, supporting its cash flow and upcoming projects. The firm anticipates positive financial results for 2022 with ongoing projects exceeding 4,200 units.
SG Blocks announces that its joint venture, Clarity Mobile Venture, has secured an extension for COVID-19 testing at Los Angeles International Airport (LAX). Operating since November 2020, the facility has provided thousands of travelers with safe testing options, including Standard and Rapid PCR tests and Antigen tests. The lab is strategically located near Terminal 6. The partnership aims to enhance health services for travelers and is exploring options for possible relocation of the lab in the future.
SG Blocks has entered a contract to supply three 40’ containers for a container park in Lake City, Florida. The project aims to create a family-friendly entertainment venue with food trucks and alcohol vendors, promoting local business growth. The total square footage from this sale is approximately 960 square feet. Containers are expected to be delivered in December 2022. This initiative underscores the company's commitment to modular construction and community support in Northern Florida.
SG Blocks (NASDAQ: SGBX) announced progress on its military facility project, moving from design to production phases for a secure military SCIF. The project, valued at
SG Blocks reported Q1 2022 revenue of $8.6 million, a 6.5% decline from $9.2 million in Q1 2021. However, gross profit surged to $2.5 million, up from $0.6 million, with a gross margin of 28.9%. The company ended Q1 with $13.1 million in cash and reported a net income of $0.5 million, compared to a loss of $1.1 million in the previous year. A substantial construction pipeline of $750 million is noted, including 4,200 residential units. Positive cash flow is projected for 2022, with plans for significant project launches ahead.
SG Blocks, Inc. (NASDAQ: SGBX) will host a conference call on May 23, 2022, at 4:30 p.m. ET to discuss its first quarter 2022 financial results. The call will allow investors to gain insights into SG Blocks' performance for the three months ended March 31, 2022. Interested parties can access the call via toll-free and international numbers provided, and a replay will be available after 7:30 p.m. ET through June 6, 2022. More details are available on their website.
SG Blocks reported $8.5 million in revenue for Q4 2021, marking a 15% increase year-over-year. The total revenue for 2021 reached $38.3 million, representing a 338% growth compared to 2020. Despite revenue growth, gross profit dropped to $0.2 million from $1.6 million in Q4 2020 due to increased costs and losses from projects. SG Blocks ended 2021 with $13 million in cash and a construction pipeline valued at $750 million. The company aims for positive cash flow in 2022, with projects in the pipeline potentially generating $40-50 million in cash.
SG Blocks, Inc. (NASDAQ: SGBX) has announced a conference call scheduled for April 18, 2022, at 4:30 p.m. ET to discuss its fourth quarter and full-year results for 2021. This will follow a press release detailing financial results beforehand. The call will be hosted by CEO Paul Galvin, with access available via toll-free and international dial-in numbers. A replay will be available until May 2, 2022.
SG Blocks specializes in modular structures using code-engineered cargo shipping containers, aiming for sustainable construction.
SG Blocks (NASDAQ: SGBX) announced the selection of Douglas Elliman as the broker for its 58-acre waterfront property in Lago Vista, Texas, listed at $15 million. The property, located on Lake Travis, has approved plans for 200 condominiums and a marina. CEO Paul Galvin emphasized that selling the land is a strategic decision to lock in gains from its value increase. The proceeds are expected to reduce debt, enhance cash position, and improve overall liquidity without diluting shares.
SG Blocks (NASDAQ: SGBX) announced a significant contract through its subsidiary SG ECHO, marking its largest deal to date. The purchase order consists of over 100 modular units, expected to generate approximately $6 million in revenue. Completion of the units is slated for the end of Q2 2022. This contract enhances the company's production efficiency and supports ongoing relationships with clients, demonstrating SG Blocks' scalability in the modular structures market.
FAQ
What is the current stock price of Safe & Green Holdings (SGBX)?
What is the market cap of Safe & Green Holdings (SGBX)?
