Quality Industrial Corp. Reports Strong Fiscal Year 2024 Results

In a remarkable turnaround, Quality Industrial Corp. (“QIND”) has reported robust financial results for the fiscal year ended December 31, 2024. The company, which operates on the OTC Bulletin Board, has seen a significant shift from a net loss of $4.2 million in 2023 to a net income of $266,780 in 2024. This impressive performance is primarily attributed to the strategic acquisition and consolidation of its subsidiary, Al Shola Gas.

Key Financial Highlights

  • Total Revenue: QIND reported total revenue of $11.2 million for the fiscal year 2024. This substantial increase is largely driven by the acquisition of Al Shola Gas, which began in April 2024.
  • Subsidiary Performance: Al Shola Gas, a key player in the liquefied petroleum gas (LPG) industry, generated revenue of $14.3 million, marking a 31.1% year-over-year growth. This growth underscores the subsidiary’s pivotal role in QIND’s financial success.
  • Operating Expenses: The company’s operating expenses increased to $3.3 million from $2.8 million in 2023, reflecting the costs associated with the acquisition and integration of Al Shola Gas.
  • Professional Fees: These rose to $849,925, including reaudit costs and merger-related legal fees, further contributing to the increased expenses.

Strategic Focus and Future Outlook

Quality Industrial Corp. is an industrial and energy-focused company providing comprehensive solutions for the LPG industry. Through its operating subsidiary, Al Shola Gas, QIND offers consulting, design, supply, installation, and maintenance of LPG systems, as well as bulk and cylinder LPG distribution services. The company serves a diverse clientele, including commercial buildings, mixed-use apartment complexes, shopping centers, food courts, heavy industries, labor accommodations, catering units, and commercial kitchens.

Looking ahead to 2025, Quality Industrial Corp. plans to invest in operational efficiency and expand its bulk LPG supply operations with new vehicles. This strategic move is expected to further enhance the company’s service offerings and market reach.

Market Position and Valuation

Despite the positive financial turnaround, QIND’s market capitalization remains modest at $3.72 million, with a close price of $0.0284 as of April 24, 2025. The company’s price-to-earnings ratio stands at -4.85, reflecting the recent transition from a loss to profitability.

In summary, Quality Industrial Corp.’s fiscal year 2024 results highlight a successful strategic acquisition and a promising future outlook. With a focus on operational efficiency and market expansion, QIND is well-positioned to capitalize on growth opportunities in the LPG industry.