U.S. Global Investors Inc. (NASDAQ: GROW), a boutique registered investment advisory firm with longstanding expertise in precious metals and natural resources, has continued its share repurchase plan, initiated in December 2020, to support shareholder value. The firm recently reported its financial results for the quarter ended March 31, 2023.
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Financial Results and Share Repurchase Activity
As of March 31, 2023, U.S. Global Investors held 13,866,999 shares of Class A nonvoting common stock, 2,068,549 shares of Class C voting common stock and no shares of Class B nonvoting common shares. The company has been active in repurchasing its own shares, with 1,284,094 treasury shares held at the end of March 2023, up from 978,049 shares at the end of June 2022.
The company’s total assets amounted to $55.75 million as of March 31, 2023, while its total liabilities were $2.83 million, yielding total shareholders’ equity of $52.92 million. From July 2022 to March 2023, U.S. Global Investors repurchased 306,955 shares of its Class A common stock.
Maintaining Shareholder Value
The continued execution of the share repurchase plan has helped maintain shareholder value, despite fluctuations in global markets. U.S. Global Investors’ investment portfolio includes positions in both equity and debt securities, which are subject to market risks. The company’s long-standing expertise in the natural resources and precious metals sectors has helped mitigate some of these risks and deliver shareholder value.
Nine-Month Financial Performance
During the nine months ending March 2023, the company reported total operating revenues of $11.76 million and total operating expenses of $8.54 million, resulting in an operating income of $3.22 million. Investment income and other income contributed to the company’s total income before taxes of $3.22 million. With a provision for income tax expenses of $0.60 million, the firm achieved a net income of $2.62 million for the nine-month period.
Investment Portfolio and Strategy
U.S. Global Investors has a diverse range of investment portfolios, primarily focused on the precious metals and natural resources sectors. The company manages mutual funds and exchange-traded funds (ETFs) that provide investors with exposure to various asset classes, including gold, silver, and other precious metals, as well as energy, natural resources, and emerging markets investments.
Despite ongoing global economic uncertainties, U.S. Global Investors’ strategic focus on precious metals and natural resources investments has allowed the company to remain resilient in the face of market volatility. The ongoing execution of the share repurchase plan demonstrates the company’s commitment to enhancing shareholder value and protecting its investors from potential market fluctuations.
Conclusion
In conclusion, U.S. Global Investors’ share repurchase plan renewal in December 2020 showcases the company’s continued commitment to delivering shareholder value. By maintaining a diversified investment portfolio, along with a focus on growth in the precious metals and natural resources sectors, the advisory firm aims to mitigate market risks and enhance overall financial performance.
With a history of strong financial results, U.S. Global Investors remains well-positioned to navigate the fluctuating global markets and continue executing its strategy in the best interests of its shareholders.
Income Statement
Financials in millions USD. Fiscal year is July – June. source
| Year | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 – 1995 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 0 | Revenue | 24.71 | 21.65 | 4.48 | 3.46 | 6.26 | 6.76 | 5.51 | 7.33 | 8.53 | 17.32 | Upgrade |
| 1 | Revenue Growth (YoY) | 14.13% | 383.78% | 29.40% | -44.75% | -7.42% | 22.85% | -24.93% | -14.07% | -50.72% | -22.60% | Upgrade |
| 2 | Gross Profit | 24.71 | 21.65 | 4.48 | 3.46 | 6.26 | 6.76 | 5.51 | 7.33 | 8.53 | 17.32 | Upgrade |
| 3 | Selling, General & Admin | 13.38 | 13.29 | 6.68 | 6 | 8.31 | 7.38 | 9.37 | 10.51 | 11.34 | 14.58 | Upgrade |
| 4 | Other Operating Expenses | 0.23 | 0.2 | 0.2 | 0.21 | 0.24 | 0.25 | 0.32 | 0.33 | 0.47 | 2.93 | Upgrade |
| 5 | Operating Expenses | 13.6 | 13.49 | 6.88 | 6.22 | 8.55 | 7.64 | 9.68 | 10.84 | 11.81 | 17.51 | Upgrade |
| 6 | Operating Income | 11.11 | 8.17 | -2.4 | -2.76 | -2.29 | -0.87 | -4.18 | -3.51 | -3.28 | -0.19 | Upgrade |
| 7 | Other Expense / Income | 6.15 | -29.27 | 2.46 | 1.61 | -3.13 | -0.38 | -0.5 | -0.3 | -1.83 | -0.1 | Upgrade |
| 8 | Pretax Income | 4.97 | 37.44 | -4.86 | -4.37 | 0.84 | -0.5 | -3.68 | -3.21 | -1.45 | -0.09 | Upgrade |
| 9 | Income Tax | 1.15 | 5.48 | -0.18 | -0.98 | 0.2 | 0.02 | -0.01 | 0.82 | -0.48 | 0.1 | Upgrade |
| 10 | Net Income | 3.82 | 31.96 | -4.68 | -3.39 | 0.65 | -0.51 | -3.68 | -4.03 | -0.97 | -0.19 | Upgrade |
| 11 | Net Income Growth | -88.05% | – | – | – | – | – | – | – | – | – | Upgrade |
| 12 | Shares Outstanding (Basic) | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | Upgrade |
| 13 | Shares Outstanding (Diluted) | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | Upgrade |
| 14 | Shares Change | -0.38% | -0.27% | -0.20% | -0.13% | -0.35% | -0.54% | -0.68% | -0.38% | -0.15% | 0.27% | Upgrade |
| 15 | EPS (Basic) | 0.25 | 2.12 | -0.31 | -0.22 | 0.04 | -0.03 | -0.24 | -0.26 | -0.06 | -0.01 | Upgrade |
| 16 | EPS (Diluted) | 0.25 | 2.12 | -0.31 | -0.22 | 0.04 | -0.03 | -0.24 | -0.26 | -0.06 | -0.01 | Upgrade |
| 17 | EPS Growth | -88.21% | – | – | – | – | – | – | – | – | – | Upgrade |
| 18 | Free Cash Flow Per Share | 0.69 | 0.31 | -0.13 | -0.07 | -0.00 | 0.04 | 0.20 | -0.05 | -0.98 | 0.03 | Upgrade |
| 19 | Dividend Per Share | 0.083 | 0.043 | 0.030 | 0.029 | 0.030 | 0.030 | 0.037 | 0.060 | 0.060 | 0.170 | Upgrade |
| 20 | Dividend Growth | 93.02% | 43.33% | 3.45% | -3.33% | 0% | -18.92% | -38.33% | 0% | -64.71% | -29.17% | Upgrade |
| 21 | Gross Margin | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | Upgrade |
| 22 | Operating Margin | 44.97% | 37.71% | -53.69% | -79.71% | -36.54% | -12.91% | -75.86% | -47.82% | -38.40% | -1.10% | Upgrade |
| 23 | Profit Margin | 15.45% | 147.60% | -104.65% | -97.95% | 10.33% | -7.59% | -66.76% | -54.96% | -11.37% | -1.12% | Upgrade |
| 24 | Free Cash Flow Margin | 41.74% | 21.67% | -43.61% | -31.08% | -0.54% | 10.20% | 54.86% | -9.71% | -178.33% | 2.44% | Upgrade |
| 25 | Effective Tax Rate | 23.13% | 14.63% | – | – | 23.34% | – | – | – | – | – | Upgrade |
| 26 | EBITDA | 4.55 | 37.81 | -4.66 | -4.15 | 1.09 | -0.24 | -3.37 | -2.88 | -1.19 | 0.18 | Upgrade |
| 27 | EBITDA Margin | 18.41% | 174.62% | -104.04% | -120.01% | 17.33% | -3.59% | -61.13% | -39.29% | -13.90% | 1.05% | Upgrade |
| 28 | Depreciation & Amortization | -0.42 | 0.37 | 0.2 | 0.21 | 0.24 | 0.25 | 0.32 | 0.33 | 0.26 | 0.28 | Upgrade |
| 29 | EBIT | 4.97 | 37.44 | -4.86 | -4.37 | 0.84 | -0.5 | -3.68 | -3.21 | -1.45 | -0.09 | Upgrade |
| 30 | EBIT Margin | 20.10% | 172.89% | -108.56% | -126.19% | 13.48% | -7.33% | -66.87% | -43.75% | -16.93% | -0.54% | Upgrade |
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