Chicago Rivet & Machine Co. Announces Second Quarter Results of Operations

Rhea-AI Summary

Chicago Rivet & Machine Co. (CVR) reported Q2 2022 net sales of $9.02 million, a 7.9% increase from Q2 2021's $8.36 million. Year-to-date sales also rose to $18.22 million from $17.67 million in the prior year. However, the company's net income declined to $153,904 from $319,507 year-over-year, resulting in a reduction of earnings per share (EPS) from $0.33 to $0.16. Income before taxes dropped to $194,904 from $406,507, reflecting significant challenges despite higher sales.

Positive

• Net sales increased by 7.9% to $9.02 million in Q2 2022.
• Year-to-date sales grew to $18.22 million from $17.67 million.

Negative

• Net income dropped to $153,904 from $319,507 year-over-year.
• EPS decreased from $0.33 to $0.16.
• Income before taxes fell to $194,904 from $406,507.

NAPERVILLE, Ill. , Aug. 5, 2022 /PRNewswire/ -- Chicago Rivet & Machine Co. (NYSE American: CVR) today announced results for the second quarter of 2022 as summarized below:

CHICAGO RIVET & MACHINE CO. Summary of Consolidated Results of Operations For the Three and Six Months Ended June 30
	Second Quarter		First Six Months
	2022	2021	2022	2021
Net sales	$9,023,398	$8,364,390	$18,221,094	$17,669,339
Income before income taxes	194,904	406,507	765,217	1,096,635
Net income	153,904	319,507	601,217	859,635
Net income per common share	.16	.33	.62	.89
Average common shares outstanding	966,132	966,132	966,132	966,132
(All figures subject to year-end audit)

 

 

View original content:https://www.prnewswire.com/news-releases/chicago-rivet--machine-co-announces-second-quarter-results-of-operations-301600974.html

SOURCE Chicago Rivet & Machine Co.

FAQ

What were Chicago Rivet's Q2 2022 earnings results?

Chicago Rivet reported Q2 2022 net sales of $9.02 million, with a net income of $153,904, and EPS of $0.16.

How did Chicago Rivet's sales perform in the first half of 2022?

In the first half of 2022, Chicago Rivet's sales were $18.22 million, up from $17.67 million in 2021.

What was the change in net income for Chicago Rivet in Q2 2022?

The net income in Q2 2022 decreased to $153,904, down from $319,507 in Q2 2021.

What is the stock symbol for Chicago Rivet?

The stock symbol for Chicago Rivet & Machine Co. is CVR.