ParcelPal Logistics Inc. (CSE: PKG) seems to be turning the corner. The firm shared today that it anticipates finally achieving an operationally profitable quarter this year in Q4 2021.
The logistics firm is basing this projection on its October and November 2021 performances when it achieved operational profit, saying it is the “second consecutive year of back to back operationally profitable months.” However, no financial details have been shared yet.
“We continue to increase our margins, scale the business and execute on our growth and expansion plan,” said CEO Rich Wheeless. “This combination of signing more profitable contracts, moving into new industries, and the expansion into the U.S. market has led to a much stronger organization.”
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The company said Q4 2020 is the first quarter that it ever achieved operational profit. Seeing the same trend, it anticipates Q4 2021 to follow the same trend “but with higher revenues and lower costs.”
In Q3 2021, the firm recorded $1.7 million in revenue and $2.2 million in net loss.
ParcelPal last traded at $0.05 on the CSE.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
