Welcome to our dedicated page for Escalade news (Ticker: ESCA), a resource for investors and traders seeking the latest updates and insights on Escalade stock.
Escalade Inc. (symbol: ESCA), founded in 1922 and headquartered in Evansville, Indiana, is a prominent manufacturer and distributor of sporting goods, fitness, and indoor/outdoor recreational equipment. The company's mission is to connect family and friends, creating lasting memories through high-quality products. Escalade's extensive brand portfolio includes Brunswick Billiards®, STIGA® table tennis, Accudart®, RAVE Sports® water recreation, Victory Tailgate® custom games, Onix® pickleball, Goalrilla™ basketball, Lifeline® fitness, Woodplay® playsets, and Bear® Archery.
Operating primarily in North America, Europe, and other international markets, Escalade generates a significant portion of its revenue from the North American region. The company's products are available online and at leading retailers worldwide, catering to a diverse range of recreational activities such as archery, table tennis, basketball, trampolines, play systems, fitness, and various game tables.
In recent years, Escalade has focused on strategic initiatives to enhance its product offerings and operational efficiency. The company has successfully launched new products, driven direct-to-consumer (DTC) sales, and improved inventory management. Notably, DTC sales have seen remarkable growth, with a more than 60% increase in the April to June period of 2022, driven by effective marketing campaigns and innovative product introductions.
Despite challenges such as reduced post-pandemic consumer demand and inflationary pressures, Escalade has demonstrated resilience. For the second quarter of 2023, the company reported net income of $3.6 million, highlighting improved cash flow from operations and significant inventory and debt reductions. The company's gross margin for the second quarter was 24.6%, and it generated $8.4 million in cash flow from operations.
Escalade's financial health remains strong, with total cash and equivalents of $0.6 million as of June 30, 2023, and $42.4 million available on its senior secured revolving credit facility maturing in 2027. The company's board of directors declared a quarterly dividend of $0.15 per share of common stock, payable on September 5, 2023.
In its third quarter of 2023, Escalade continued to demonstrate strong performance, with net income rising to $4.3 million. The company's gross margin improved significantly to 24.7%, driven by favorable product mix and lower costs associated with supply chain disruptions. Escalade remains focused on reducing debt, with substantial debt reduction achieved in recent quarters.
Looking ahead, Escalade anticipates continued growth opportunities through strategic cost control, working capital management, and balance sheet optimization. The company remains committed to enhancing shareholder value while supporting its customers and building a market-leading portfolio of high-quality and beloved brands for its loyal consumer base.
For more information about Escalade's many brands, history, financials, and governance, please visit www.escaladeinc.com.
Escalade, Inc. (NASDAQ: ESCA) has successfully acquired the assets of Brunswick Billiards® from Life Fitness, LLC, enhancing its foothold in the billiards and indoor recreation markets. This strategic acquisition is expected to broaden Escalade’s product offerings and strengthen its connection with consumers. CEO Walt Glazer emphasized the addition of this iconic brand boosts market leadership, as the teams collaborate for a seamless transition. Brunswick Billiards will continue operations from Bristol, Wisconsin, under General Manager John Kazik.
Escalade, Inc. (NASDAQ: ESCA) announced the acquisition of Brunswick Billiards, a leading brand in billiards equipment, from Life Fitness, LLC. The deal marks Escalade's entry into the indoor recreation market, complementing its existing portfolio of brands. Brunswick Billiards, founded in 1845, has a strong legacy of quality and innovation, making it a strategic addition. The transaction is expected to close in January 2022, pending customary conditions. This acquisition aims to leverage synergies in supply chain and enhance market presence.
Escalade, Incorporated has appointed Walter P. Glazer, Jr. as its full-time Chief Executive Officer and President, effective January 1, 2022. Glazer, who served as interim CEO since February 2021, has been a board member since 2015 and brings extensive leadership experience, including founding Speedball Art Products. The board expressed appreciation for his leadership as Escalade approaches its 100th year in business. Glazer aims to enhance value for consumers and shareholders through the company's diverse brand portfolio that includes sporting goods and recreational equipment.
Escalade, Inc. (NASDAQ: ESCA) reported Q3 2021 revenues of $81.3 million, an increase of 4.1% year-over-year but diluted EPS declined 39.5% to $0.43. Gross margin dropped 760 basis points to 22.5%, attributed to rising transportation and raw material costs. Year-to-date, sales rose 20.8%, while net income decreased 6.3%.
The company plans to tackle margin compression through price adjustments, product redesigns, and inventory management as it prepares for the holiday season.
For the second quarter of 2021, Escalade, Incorporated (NASDAQ: ESCA) reported a 19.3% increase in revenue, totaling $99.7 million. Despite this growth, the gross margin declined by 267 basis points to 25.2%. Operating income was $10.7 million, down slightly from $10.9 million in Q2 2020. Diluted earnings per share stood at $0.58. Year-to-date sales rose 31.5% with net income increasing 27.3%. Escalade faces ongoing cost pressures but maintains sufficient inventory to meet demand.
Escalade, Incorporated (NASDAQ: ESCA) reported robust first-quarter results for 2021, with revenue soaring to $59.2 million, a 58.7% increase year-over-year. This represents the fifth consecutive quarter of record sales. Diluted earnings per share reached $0.39, up 178.6% from the previous year. The growth was driven by strong demand in various product lines, particularly archery and outdoor categories. Despite facing challenges from supply chain issues and rising raw material costs, the company is committed to maintaining profit margins and reinvesting in business innovation.
Escalade, Incorporated (NASDAQ: ESCA) has declared a quarterly dividend of $0.14 per share, payable on March 24, 2021, to shareholders on record as of March 17, 2021. This announcement reaffirms Escalade's commitment to providing returns to its investors. The company is a leader in manufacturing and marketing sporting goods worldwide, with a diverse range of products across various sports categories.
Escalade, Inc. (NASDAQ: ESCA) appointed Walter P. Glazer, Jr. as Interim CEO and President effective February 19, 2021, following the resignation of Scott J. Sincerbeaux. Glazer, aged 62, has been a board director since 2015 and Chairman since 2018. He also leads Speedball Art Products. In his statement, Glazer emphasized Escalade's strong financial performance and commitment to invest in growth and team culture while announcing a search for a permanent CEO. Escalade is known for its wide range of sporting goods, including brands like Bear Archery and STIGA.
Escalade, Incorporated (NASDAQ: ESCA) reported a robust fourth quarter and full year financial performance for 2020. The company achieved a revenue of $74.8 million, up 58.9% year-over-year, marking its fourth consecutive record quarter.
Operating income increased by 97.1% to $6.9 million, with diluted earnings per share rising to $0.36 from $0.18.
Annual net sales reached $273.6 million, a 51.6% increase compared to 2019, driven by strong consumer demand across product lines. Gross margin improved to 27.3%, reflecting operational efficiencies and favorable sales mix.
Escalade Sports, a subsidiary of Escalade, Inc. (NASDAQ: ESCA), announced the acquisition of Revel Match LLC, doing business as RAVE Sports, on December 7, 2020. This strategic move enhances Escalade's portfolio in water recreation products, positioning the company for growth in a burgeoning market. RAVE Sports, founded in 1996, aligns with Escalade's vision for innovative outdoor equipment. CEO Scott Sincerbeaux expressed confidence in the acquisition being accretive to earnings in 2021, underlining the expansion into the water sports sector as a key growth initiative.
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