Progressive Planet Q1 FY27 net income drops 31% to $1.11 million; revenue rises 23% to $7.3 million
PUBT · 2d ago
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- Progressive Planet Q1 revenue rose 23% to $7.3 million, a quarterly record since inception.
- Operating income increased 29% to $924,124, while net income fell 31% to $1.11 million.
- Gross margin narrowed 5 percentage points to 34%, with CEO Steve Harpur citing higher trucking costs tied to diesel prices.
- Capital spending totaled $654,335, including $391,104 for a building extension and equipment for the PozGlass pilot plant.
- After quarter-end, it accepted a $4 million BDC Pivot to Grow term-loan offer at floating base rate minus 2.00%.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Progressive Planet Solutions Inc. published the original content used to generate this news brief via CNW (Ref. ID: 202609241630CANADANWCANADAPR_C7907) on September 24, 2026, and is solely responsible for the information contained therein.
Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.
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