Why did SGBX's Q1 2024 EPS surge unexpectedly?

The unexpected surge in SGBX's Q1 2024 EPS can be attributed to **Revenue Growth from Modular Units** and **Cost Savings from Workforce Reduction**.

1. **Revenue Growth from Modular Units**:
- SGBX's subsidiary, SG Echo, was awarded a significant purchase order for modular units from a private infrastructure solutions client. This order is expected to generate approximately $11.3 million in revenue.
- The company anticipates that this order will utilize a significant portion of its remaining capacity across its two operational manufacturing facilities.
- This substantial revenue contribution from the modular units is a key factor in the surge in EPS for the quarter.
2. **Cost Savings from Workforce Reduction**:
- Safe & Green Holdings announced plans to reduce its workforce by approximately 65 positions at its subsidiary SG Echo. This reduction is aimed at lowering operating costs and improving profitability.
- The company estimates cost savings of approximately $375,000 per month as compared to January 2024.
- These cost savings, coupled with the revenue growth from the modular units, contribute to the increased EPS for Q1 2024.

In conclusion, the combination of revenue growth from the modular units and cost savings from the workforce reduction has led to the unexpected surge in SGBX's Q1 2024 EPS.