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SMG INDUSTRIES INC - $SMGI STOCK NEWS

Welcome to our dedicated page for SMG INDUSTRIES news (Ticker: $SMGI), a resource for investors and traders seeking the latest updates and insights on SMG INDUSTRIES stock.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect SMG INDUSTRIES's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of SMG INDUSTRIES's position in the market.

News
SMG Industries Inc. Announces Voluntary SEC Deregistration
Rhea-AI Summary
SMG Industries Inc. (SMGI) has decided to voluntarily deregister its common stock under the Securities Exchange Act of 1934 to streamline financial operations and reduce administrative costs. The management believes this strategic move will allow the company to focus on core business activities, operate more efficiently, and allocate resources effectively, ultimately benefiting stockholders.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-46.43%
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none
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News
SMG Industries Inc. Releases Financial Information Recently Filed in a Current Report on Form 8-K and Stockholder Update
Rhea-AI Summary
SMG Industries Inc. reports pro forma financial results following the acquisition of the Barnhart family of companies, with revenues of $152,771,088 and a net loss of $5,156,039 for fiscal year 2022. The company expects cost synergies and integration benefits from the acquisition, aiming to conclude the integration by the end of 2023. SMG also highlights revenue synergies and growth prospects, focusing on diversification in its end market customer base. The next quarterly report will include the financial results from the Barnhart acquisition.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-5.71%
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none
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News
SMG Industries Inc. Reports Record Revenues of $21.8 Million for the Second Quarter 2023 (Excludes Contribution from the Barnhart Acquisition Completed July 2023)
Rhea-AI Summary
SMG Industries Inc. reported financial results for Q2 2023, with revenues increasing by 21% compared to the same period last year. Gross profit improved to $2.9 million, and net loss improved to $1.8 million. The company completed the acquisition of the Barnhart Transportation family of companies, creating a pro forma combined company with enhanced scale and growth potential.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.64%
Tags
acquisition earnings
News
Great Rock Capital Closes $31.7 Million Term Loan Facility with SMG Industries, Inc.
Rhea-AI Summary
Great Rock Capital has closed a $31.7 million senior secured term loan facility with SMG Industries, Inc. The loan was used to finance the strategic acquisition and merger of the Barnhart Transportation group of companies. SMGI is a growth-oriented transportation services company focused on the domestic infrastructure logistics market.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
11.11%
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none
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News
SMGI Announces Successful Recapitalization and Acquisition of Barnhart Transportation, a Leading Logistics Services Provider Based in Pennsylvania
Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.15%
Tags
acquisition
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News
SMGI Announces Non-Binding Letter of Intent to Acquire Diversified Transportation Business in Northeastern United States
Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.84%
Tags
acquisition
News
SMG Industries, Inc. Reports Record First Quarter 2023 Revenue Results of $20.86 Million, a 29% Increase Over Q1 2022, and Positive Adjusted EBITDA
Rhea-AI Summary
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Rhea-AI Sentiment
End-of-Day
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earnings
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SMG Reports Preliminary Unaudited Revenues of Approximately $20.5 Million for Q1, 2023, an Increase of Approximately 27% From Q1, 2022
Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
31.39%
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none
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News
SMG Industries, Inc. Announces Fiscal Year 2022 Earnings and Record Revenues for 2022
Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
8.82%
Tags
earnings
News
SMG Industries, Inc. Announces Preliminary Unaudited Revenue Results for the Year 2022
Rhea-AI Summary
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Rhea-AI Sentiment
End-of-Day
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SMG INDUSTRIES INC

OTC:SMGI

SMGI Rankings

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SMGI Stock Data

17.48M
36.10M
52.3%
General Rental Centers
Real Estate and Rental and Leasing
Link
United States of America
Houston

About SMGI

smg industries inc., an oilfield service company, provides detergents, surfactants, and degreasers for the drilling rig operators, exploration and production companies, and distribution and supply companies in the united states. the company offers degreaser under the miracle blue name; aluminum brightener and descaler under the luma brite name; and emulsifier under the wicked green name that are used in oil remediation jobs. it also sells equipment and parts, such as industrial and oilfield pressure washers, compressors, heaters, water pumps and combination units, as well as spare parts for pressure washer water guns, hoses, and fittings. in addition, the company is also involved in the rental of rig wash equipment trailer units comprising pressure washers, heating equipment, water containment units, and related components to drilling rig operators, oil company operators, and other oilfield companies. further, it provides drilling rig wash and mechanical repair services for drilling ri