Welcome to our dedicated page for Acme United Corporation news (Ticker: ACU), a resource for investors and traders seeking the latest updates and insights on Acme United Corporation stock.
Acme United Corporation (NYSE American: ACU) is a premier global supplier of essential safety solutions and cutting-edge technology catering to diverse markets including schools, homes, offices, hardware stores, sporting goods shops, and industrial sectors. Established over 150 years ago, Acme United has built a robust portfolio of innovative products and trusted brands.
Among its leading brands, Westcott is renowned for scissors and rulers, while First Aid Only® is a pioneer in first aid kits and medical supplies. Other notable brands include Spill Magic®, Clauss®, Camillus®, Cuda®, DMT®, and Med-Nap®.
Acme United's core products include first aid kits, medical supplies, scissors, shears, knives, rulers, pencil sharpeners, and sharpening tools. These products are distributed through various channels such as mass market and e-commerce retailers, industrial distributors, office supply superstores, and hardware chains.
The company operates across the United States, Canada, Europe, and Asia, with a significant portion of its revenue generated in the U.S. Recent strategic moves include the acquisition of Hawktree Solutions and Elite First Aid, Inc., expanding their product lines and market reach.
Financially, Acme United has shown resilience with a consistent performance. For the year ending December 31, 2023, net sales were $191.5 million. The recent sale of their Camillus and Cuda product lines resulted in significant debt reduction and optimized focus on their primary product lines.
Acme United’s latest achievements include strong earnings, new product placements, and productivity improvements leading to substantial savings. The company's financial health is strong, evidenced by reduced debt and increased free cash flow.
The Board of Directors of Acme United Corporation (NYSE American: ACU) has declared a cash dividend of 14 cents per share, payable on July 22, 2022, to stockholders of record by July 1, 2022. This marks the company's thirteenth dividend increase since 2004. Chairman and CEO Walter C. Johnsen stated the company is making good progress and remains confident in its strong balance sheet. Acme United Corporation is recognized for its innovative safety solutions and cutting technologies across multiple market sectors.
Acme United Corporation (NYSE American: ACU) has acquired the assets of Live Safely Products, LLC (d/b/a “Safety Made”), a manufacturer of first aid kits, enhancing its product offerings in the promotional products industry. Safety Made reported revenues of approximately $4.9 million and EBITDA of $1.2 million in 2021. The transaction aims to be immediately accretive, leveraging cross-selling opportunities across Acme United's customer base. Chairman and CEO Walter C. Johnsen expressed enthusiasm about expanding their product range and welcoming Safety Made's team.
Acme United Corporation (NYSE MKT: ACU) announced the renewal and increase of its loan facility with HSBC Bank, N.A. The updated agreement raises borrowings to $65 million, a $15 million increase, with an interest rate of SOFR plus 1.75%, expiring on May 31, 2026. The facility aims to enhance liquidity for growth initiatives, including share repurchases and acquisitions. As of March 31, 2022, the company had $40.2 million outstanding under the existing agreement. CEO Walter C. Johnsen expressed confidence in leveraging this facility for growth opportunities.
Acme United Corporation (NYSE American: ACU) will present at the Sidoti Microcap Virtual Conference on May 11, 2022, at 10:45 AM EDT. The company's Chairman and CEO, Walter Johnsen, will also hold one-on-one meetings with institutional investors on May 11 and 12, 2022. A webcast of the presentation will be available on Acme United's Investor Relations page. Acme United is a leading supplier of innovative safety and cutting technology products across various markets.
Acme United Corporation (NYSE American: ACU) reported net sales of $43.3 million for Q1 2022, a slight decline from $43.5 million in Q1 2021. Net income dropped 59% to $830,000, or $0.22 per diluted share, compared to $2,046,000, or $0.52 the previous year. Supply chain disruptions, particularly from COVID-19, affected orders worth approximately $4.0 million. Gross margins decreased to 34.5% from 35.8% due to rising product and transportation costs. The company aims for revenues exceeding $200 million in 2022, with expectations of improved supply chain conditions.
Acme United Corporation (NYSE American: ACU) will announce its financial results for Q1 2022 on April 22, 2022, at 9:00 a.m. ET. A conference call is scheduled for the same day at 12:00 p.m. ET to discuss these results. Interested participants can join the call by dialing 888-394-8218 or accessing a live webcast through the company's website. Acme United is a global supplier of safety solutions and cutting technology, featuring brands such as First Aid Only, PhysiciansCare, and Westcott.
Acme United Corporation (NYSE American: ACU) has declared a cash dividend of 13 cents per share, payable on April 22, 2022, to shareholders on record as of April 1, 2022. This action reflects the company's commitment to returning value to its investors amidst its operations in the safety solutions and cutting technology sectors. Acme United supplies various markets including school, home, and industrial applications with leading brands such as First Aid Only and Westcott.
Acme United Corporation (NYSE American: ACU) announced its participation in the 34th Annual Roth Conference on March 14-15, 2022, at The Ritz-Carlton in Dana Point, California. The event will be held both in-person and virtually. Chairman and CEO Walter Johnsen will conduct one-on-one meetings with institutional investors.
Additionally, Acme United's presentation will be available for streaming before the conference on their Investor Relations website.
For further details, investors can contact their Roth representative or request a registration form through the provided link.
Acme United Corporation (NYSE American: ACU) reported a 12% increase in net sales for Q4 2021, totaling $45.8 million, compared to $40.9 million in Q4 2020. For the full year, net sales rose by 11% to $182.1 million. Net income for Q4 grew by 14% to $2.34 million, or $0.60 per diluted share. Annual net income reached $13.7 million, including $3.5 million loan forgiveness, marking a 69% increase. The firm experienced sales growth in U.S., Canada, and Europe, driven by first aid and craft product sales, though gross margins declined due to rising costs.
Acme United Corporation (NYSE American: ACU) will announce its financial results for Q4 2021 on March 1, 2022, at 9:00 a.m. ET. A conference call scheduled for the same day at 12:00 p.m. ET will discuss these results, accessible via phone and live webcast. Acme United is a prominent supplier of safety solutions and cutting technology, catering to diverse markets including school, home, and industry. Its notable brands include First Aid Only, PhysiciansCare, and Westcott.
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