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Q.E.P. CO INC - QEPC STOCK NEWS

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Founded in 1979, Q.E.P. Co., Inc. is a global leader in manufacturing, marketing, and distributing a wide range of specialty tools and flooring products for professional installers and the home improvement market. With over 3,000 specialty tools and products, the company focuses on surface preparation and installation of ceramic tile, carpet, laminate, vinyl, and wood flooring. Headquartered in Boca Raton, Florida, Q.E.P. Co., Inc. serves customers in all 50 states and over 75 countries worldwide.

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Q.E.P. Co (OTCQX: QEPC) has announced a new regular quarterly cash dividend policy. The company will pay a quarterly dividend of $0.20 per share on February 28, 2025, to shareholders of record as of February 3, 2025. The Board of Directors approved this policy as part of their strategy to enhance stockholder value and demonstrate confidence in sustained earnings growth. While committed to regular quarterly dividends, future payments will depend on various factors including financial results and acquisition opportunities. The company also plans to explore additional capital return methods, including potential share repurchases.

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Q.E.P. CO., INC. (OTCQX: QEPC) reported its fiscal 2025 six-month and second quarter financial results. For the six months ended August 31, 2024, net sales decreased by 3.0% to $126.1 million, while gross profit increased by 9.3% to $44.8 million. The company's gross margin improved to 35.5% from 31.5% in the same period last year. Net income from continuing operations for the six months was $7.7 million or $2.34 per diluted share, up from $4.8 million or $1.43 per diluted share in fiscal 2024. EBITDA from continuing operations increased to $11.0 million or 8.7% of net sales. The company reported cash provided by operations of $11.2 million and an aggregate available cash, net of outstanding debt, of $29.8 million as of August 31, 2024.

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Q.E.P. Co., Inc. (OTCQX: QEPC) reported its fiscal 2025 first quarter results, ending May 31, 2024. Despite a 3.7% decrease in net sales to $63.5 million, the company's adjusted net income more than doubled to $3.9 million or $1.17 per diluted share. Gross profit increased by 12.2% to $22.5 million, with gross margin improving to 35.4%. EBITDA from continuing operations rose to $5.6 million or 8.8% of net sales.

The company's financial position strengthened, with cash provided by operating activities at $6.1 million and aggregate available cash, net of outstanding debt, increasing to $30.1 million. QEP continues to focus on its core North American market following strategic divestments in the prior fiscal year.

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Q.E.P. Co. (OTCQX: QEPC) announced its fiscal 2024 results, highlighting significant financial shifts. Adjusted net income surged to $9.1 million, or $2.73 per share, from $4.5 million or $1.34 per share in fiscal 2023. Despite net sales falling 6.5% to $252.0 million due to reduced consumer demand, gross profit rose 12% to $82.0 million, driven by cost-cutting and a better product mix.

The company completed strategic divestments, including North American flooring brands and businesses in the UK, Australia, and New Zealand. These moves, along with debt reductions, resulted in lower interest expenses and a cash surplus, allowing for special dividends in 2024. Operating expenses increased due to higher personnel and divestiture-related costs. The net loss was $4.7 million, or $1.40 per share, compared to $0.1 million or $0.02 per share the previous year.

Cash from operations was $29.5 million, compared to a net use of $0.1 million in fiscal 2023, improving working capital to $60.0 million. The company’s EBITDA from continuing operations improved to $14.7 million from $10.6 million in fiscal 2023.

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Q.E.P. Co. (OTCQX: QEPC) declared a special cash dividend of $1.00 per share, payable on June 26, 2024, to stockholders of record as of May 31, 2024. This move reflects the company's solid financial health, ensuring that it retains sufficient working capital for investments and operating needs.

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Q.E.P. Co., Inc. (QEPC) completes the sale of its Australia and New Zealand business for AUD 14.05 million to QEP Australasia Pty. Ltd. This move aligns the company's global footprint to enhance shareholder value, eliminate debt, and boost cash reserves. The transaction involves key personnel transitions and financial adjustments.
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Q.E.P. Co., Inc. (QEPC) has announced the sale of its ANZ Business assets to QEP Australasia Pty. Ltd. for approximately AUD 14.05 million. The deal, led by Bruce Maclaren and Tony Lei, is set to close by February 29, 2024, pending closing conditions.
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Q.E.P. Co., Inc. reported a decrease in net sales for the first nine months of fiscal 2024, along with an increase in gross profit. The company divested its North American flooring businesses and UK operations, positioning itself to become debt-free by fiscal year-end. QEP also declared a special dividend of $1.00 per share, using the proceeds from recent divestitures to return capital to its stockholders.
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Q.E.P. CO., INC. (QEPC) appoints Leonard Gould as President & CEO, effective December 8, 2023. Mr. Gould has a 30-year tenure with the Company, overseeing strategic initiatives, customer relationships, and transformational initiatives. He holds an MBA from the University of Miami Herbert Business School and a BSBA degree in Marketing from the University of Hartford.
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Q.E.P. CO., INC. completes sale of UK Business for £12 million
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FAQ

What is the current stock price of Q.E.P. CO (QEPC)?

The current stock price of Q.E.P. CO (QEPC) is $35.58 as of December 24, 2024.

What is the market cap of Q.E.P. CO (QEPC)?

The market cap of Q.E.P. CO (QEPC) is approximately 111.9M.

Where is Q.E.P. Co., Inc. headquartered?

Q.E.P. Co., Inc. is headquartered in Boca Raton, Florida.

What is the core focus of Q.E.P. Co., Inc. products?

Q.E.P. Co., Inc. specializes in surface preparation and installation tools and products for ceramic tile, carpet, laminate, vinyl, and wood flooring.

When was Q.E.P. Co., Inc. founded?

Q.E.P. Co., Inc. was founded in 1979.

How many products does Q.E.P. Co., Inc. offer?

Q.E.P. Co., Inc. markets over 3,000 specialty tools and related products.

In how many countries does Q.E.P. Co., Inc. operate?

Q.E.P. Co., Inc. operates in over 75 countries worldwide.

What is the recent financial performance of Q.E.P. Co., Inc.?

In the latest report, Q.E.P. Co., Inc. reported adjusted net income more than doubling to $9.1 million or $2.73 per share.

Who are the target customers of Q.E.P. Co., Inc. products?

Q.E.P. Co., Inc. targets both professional installers and the home improvement market with its range of specialty tools and flooring products.

What sets Q.E.P. Co., Inc. apart in the industry?

Q.E.P. Co., Inc. stands out for its comprehensive line of specialty tools and products that cater to various flooring installation needs.

How many states does Q.E.P. Co., Inc. serve in the U.S.?

Q.E.P. Co., Inc. serves customers in all 50 states of the U.S.

What is the primary focus of Q.E.P. Co., Inc. products?

Q.E.P. Co., Inc. products are primarily focused on surface preparation and installation tools for different types of flooring materials.

Q.E.P. CO INC

OTC:QEPC

QEPC Rankings

QEPC Stock Data

111.92M
3.31M
9.46%
0.02%
Tools & Accessories
Industrials
Link
United States of America
Boca Raton