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Where Food Comes From, Inc. (WFCF) reported a strong first quarter in 2024 with revenue up 6% to $5.6 million. Verification and certification revenue increased by 17%, while product sales decreased by 25%. Net income rose by 47% to $178,000, and diluted EPS increased to $0.03. Adjusted EBITDA was up 8% to $432,000. The company repurchased over 116,000 shares of common stock worth $1.5 million. Despite challenges like drought conditions affecting herd sizes, WFCF continues to show growth and profitability, investing in new service offerings and returning value to shareholders.
Where Food Comes From, Inc. will release its 2024 first quarter financial results on May 2, 2024, followed by a conference call. The company is known for independent food production verification in North America.