Q2 2023 BEST Inc Earnings Call Transcript
Good day, and welcome to the BEST Inc. Second Quarter 2023 Results Conference Call. (Operator Instructions) Please note, this event is being recorded.
I would now like to turn the conference over to Johnny Chou, Chairman and CEO. Please go ahead.
Thank you, operator. Hello, everyone, and thank you for joining BEST's second quarter 2023 earnings call today.
We are reporting another outperformed quarter achieving both top line growth and bottom line improvements across our business. Our group gross margin turned positive at 4.2% in the second quarter, and we narrowed our net loss by 48.7% year-over-year.
BEST Freight and the BEST Supply Chain Management each reached non-GAAP profitability and generated positive operating cash flow for the quarter. Meanwhile, BEST Global continued to bounce back from the impact of COVID, delivering improved revenue and gross margin with ongoing momentum in cross-border volume and revenue on a quarter-over-quarter
Access to All Earning Calls and Stock Analysis | |
30-Year Financial on one screen | |
All-in-one Stock Screener with unlimited filters | |
Customizable Stock Dashboard | |
Real Time Insider Trading Transactions | |
8,000+ Institutional investors’ 13F holdings | |
Powerful Excel Add-in and Google sheets Add-on | |
All data downloadable | |
Quick customer support | |
And much more... |