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OmniLit Acquisition (OmniLit Acquisition) Retained Earnings : $-1.12 Mil (As of Sep. 2023)


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What is OmniLit Acquisition Retained Earnings?

Retained earnings is the accumulated portion of net income that is not distributed to shareholders. OmniLit Acquisition's retained earnings for the quarter that ended in Sep. 2023 was $-1.12 Mil.

OmniLit Acquisition's quarterly retained earnings declined from Mar. 2023 ($-0.56 Mil) to Jun. 2023 ($-0.99 Mil) and declined from Jun. 2023 ($-0.99 Mil) to Sep. 2023 ($-1.12 Mil).

OmniLit Acquisition's annual retained earnings increased from . 20 ($0.00 Mil) to Dec. 2021 ($-4.43 Mil) and increased from Dec. 2021 ($-4.43 Mil) to Dec. 2022 ($-0.27 Mil).

OmniLit Acquisition Retained Earnings Historical Data

The historical data trend for OmniLit Acquisition's Retained Earnings can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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OmniLit Acquisition Retained Earnings Chart

OmniLit Acquisition Annual Data
Trend Dec21 Dec22
Retained Earnings
-4.43 -0.27

OmniLit Acquisition Quarterly Data
May21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23
Retained Earnings Get a 7-Day Free Trial Premium Member Only Premium Member Only -4.56 -0.27 -0.56 -0.99 -1.12

OmniLit Acquisition Retained Earnings Calculation

Retained Earnings is the accumulated portion of net income that is not distributed to shareholders. Because the net income was not distributed to shareholders, shareholders' equity is increased by the same amount.

Of course, if a company loses, it is called retained losses, or accumulated losses.

OmniLit Acquisition  (NAS:OLIT) Retained Earnings Explanation

Historically profitable companies sometimes have negative retained earnings. This is because they have cumulatively paid out more to shareholders than they reported in profits.

For example, in 2011, Microsoft had negative retained earnings. This does not mean the company lost more money than it made over the years. It just means it paid out more money than it earned.

If a company has negative retained earnings, investors should check the 10-year financial results. They should not assume that negative retained earnings prove a company has generally lost money in the past.

Of course, many companies with negative retained earnings have indeed lost money in the past.

Retained Earnings: Warren Buffett's Secret.

One of the most important indicators of durable competitive advantage. Net earnings can be paid out as dividends, used to buy back shares or retained for growth.

If the company loses more than it has accumulated, retained earnings is negative.

If a company isn't adding to its retained earnings, it isn't growing its net worth.

Rate of growth of retained earnings is good indicator whether it's benefiting from a competitive advantage.

Microsoft is negative because it chose to buyback stock and pay dividends.

The more earnings retained, the faster it grows and increases growth rate for future earnings.

OmniLit Acquisition (OmniLit Acquisition) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Financial Services » Diversified Financial Services » OmniLit Acquisition Corp (NAS:OLIT) » Definitions » Retained Earnings
Comparable Companies
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Traded in Other Exchanges
N/A
Address
1111 Lincoln Road, Suite 500, Miami Beach, FL, USA, 33139
Website
https://www.omnilitac.com
OmniLit Acquisition Corp is a blank check company.
Executives
Brent David Rosenthal director C/O WR HUFF ASSET MANAGEMENT, 67 PARK PLACE, MORRISTOWN NJ 07960
Albert Manzone director C/O MERISANT, AVENUE JEAN-JACQUES ROUSSEAU 7, NEUCHATEL V8 CH-2000
Walter A. Bishop director 813 REGENT DRIVE, WESTBURY NY 11590
Goldman Sachs & Co. Llc 10 percent owner 200 WEST STREET, NEW YORK NY 10282
Goldman Sachs Group Inc 10 percent owner 200 WEST STREET, NEW YORK NY 10282
Jeffrey A Altman 10 percent owner 640 FIFTH AVENUE, 20TH FLOOR, NEW YORK NY 10019
Owl Creek Asset Management, L.p. 10 percent owner 640 FIFTH AVENUE, 20TH FLOOR, NEW YORK NY 10019
Polar Asset Management Partners Inc. 10 percent owner 16 YORK STREET SUITE 2900, TORONTO A6 M5J 0E6
James M. Jenkins director 1600 BAUSCH & LOMB PLACE, ROCHESTER NY 14604
Kent R Weldon director C/O THOMAS H. LEE PARTNERS, L.P., 100 FEDERAL STREET, 35TH FLOOR, BOSTON MA 02110
Brian F. Hughes director 124 COLONIAL RIDGE DRIVE, HADDONFIELD NJ 08033
Mark D Norman director C/O ZIPCAR, INC., 25 FIRST STREET, 4TH FLOOR, CAMBRIDGE MA 02141
Skylar Jacobs officer: Chief Operating Officer 1 IRVING TERRACE, CAMBRIDGE MA 02138
Nelson Robert O Ii officer: CFO and Secretary 29 HIDDEN ROAD, WESTON MA 02493
Alok Kapoor director, 10 percent owner, officer: Chairman and CEO 157 BEAVER, WESTON MA 02493