Archer Limited reported earnings results for the first quarter ended March 31, 2023. For the first quarter, the company reported sales was USD 226.9 million compared to USD 195.8 million a year ago. Revenue was USD 266.6 million compared to USD 219.1 million a year ago.

Net loss was USD 17.9 million compared to net income of USD 13.9 million a year ago. Basic loss per share from continuing operations was USD 1.5 compared to basic earnings per share from continuing operations of USD 2.25 a year ago. Diluted loss per share from continuing operations was USD 1.5 compared to diluted earnings per share from continuing operations of USD 2.25 a year ago.