Superior Group of Companies Reports Third Quarter 2024 Results
Superior Group of Companies (NASDAQ: SGC) reported its third quarter 2024 results, marking a significant performance improvement. Total net sales reached $149.7 million, a 10% increase from $136.1 million in Q3 2023. Net income rose to $5.4 million from $3.1 million, while EBITDA increased to $11.7 million from $9.3 million year-over-year. The Board of Directors approved a $0.14 per share quarterly dividend, reaffirming the company's full-year outlook. CEO Michael Benstock highlighted the company's strong sales, profit growth, and solid operating cash flow, driven by strategic investments in people, products, and technology. The company maintains its full-year sales outlook of $563 million to $570 million and earnings per diluted share forecast of $0.73 to $0.79. A webcast and conference call are scheduled for 5:00 pm Eastern Time today.
Superior Group of Companies (NASDAQ: SGC) ha riportato i risultati del terzo trimestre 2024, segnando un notevole miglioramento delle performance. Le vendite nette totali hanno raggiunto 149,7 milioni di dollari, con un incremento del 10% rispetto ai 136,1 milioni di dollari del terzo trimestre 2023. Il reddito netto è salito a 5,4 milioni di dollari rispetto ai 3,1 milioni, mentre l'EBITDA è aumentato a 11,7 milioni di dollari rispetto ai 9,3 milioni dell'anno precedente. Il Consiglio di Amministrazione ha approvato un dividendo trimestrale di 0,14 dollari per azione, riaffermando le prospettive per l'intero anno. Il CEO Michael Benstock ha evidenziato le forti vendite dell'azienda, la crescita dei profitti e un solido flusso di cassa operativo, sostenuti da investimenti strategici in persone, prodotti e tecnologia. L'azienda mantiene le sue previsioni di vendite per l'intero anno tra 563 milioni e 570 milioni di dollari e una previsione di utili per azione diluita tra 0,73 e 0,79 dollari. Un webcast e una conference call sono programmati per le 17:00 ora orientale di oggi.
Superior Group of Companies (NASDAQ: SGC) reportó sus resultados del tercer trimestre de 2024, marcando una mejora significativa en el rendimiento. Las ventas netas totales alcanzaron 149,7 millones de dólares, un incremento del 10% respecto a los 136,1 millones de dólares del tercer trimestre de 2023. El ingreso neto aumentó a 5,4 millones de dólares desde 3,1 millones, mientras que el EBITDA se incrementó a 11,7 millones de dólares desde 9,3 millones en comparación con el año anterior. La Junta Directiva aprobó un dividendo trimestral de 0,14 dólares por acción, reafirmando las perspectivas de la empresa para el año completo. El CEO Michael Benstock destacó las sólidas ventas de la compañía, el crecimiento de las ganancias y un flujo de efectivo operativo sólido, impulsados por inversiones estratégicas en personas, productos y tecnología. La empresa mantiene sus perspectivas de ventas para el año completo de 563 millones a 570 millones de dólares y pronostica ganancias por acción diluida de 0,73 a 0,79 dólares. Se programó un webcast y una conferencia telefónica para hoy a las 5:00 p.m. hora del Este.
Superior Group of Companies (NASDAQ: SGC)가 2024년 3분기 실적을 발표하며 성과 개선을 기록했습니다. 총 순매출은 1억 4970만 달러에 달하며, 이는 2023년 3분기 1억 3610만 달러에 비해 10% 증가한 수치입니다. 순이익은 310만 달러에서 540만 달러로 증가했으며, EBITDA는 930만 달러에서 1170만 달러로 증가했습니다. 이사회는 주당 0.14달러의 분기 배당금을 승인하며 회사의 연간 전망을 재확인했습니다. CEO 마이클 벤스톡은 회사의 강력한 매출, 이익 성장 및 안정적인 운영 현금 흐름을 강조하며, 이는 인력, 제품 및 기술에 대한 전략적 투자에 의해 이끌어졌다고 말했습니다. 회사는 5억 6300만에서 5억 7000만 달러의 연간 매출 전망과 0.73에서 0.79달러의 희석 주당 이익 예측을 유지하고 있습니다. 오늘 동부 표준시 오후 5시에 웹캐스트 및 컨퍼런스 콜이 예정되어 있습니다.
Superior Group of Companies (NASDAQ: SGC) a annoncé ses résultats du troisième trimestre 2024, marquant une amélioration significative de la performance. Le chiffre d'affaires net total a atteint 149,7 millions de dollars, soit une augmentation de 10% par rapport à 136,1 millions de dollars au troisième trimestre 2023. Le revenu net a augmenté à 5,4 millions de dollars contre 3,1 millions, tandis que l'EBITDA a augmenté à 11,7 millions de dollars contre 9,3 millions d'une année sur l'autre. Le Conseil d'Administration a approuvé un dividende trimestriel de 0,14 dollar par action, réaffirmant les perspectives générales de l'entreprise. Le PDG Michael Benstock a souligné les ventes solides de l'entreprise, la croissance des bénéfices et un flux de trésorerie d'exploitation solide, alimentés par des investissements stratégiques dans les personnes, les produits et la technologie. L'entreprise maintient ses prévisions de ventes annuelles de 563 millions à 570 millions de dollars et les prévisions de bénéfices par action diluée de 0,73 à 0,79 dollar. Un webinaire et une conférence téléphonique sont programmés pour aujourd'hui à 17h00 heure de l'Est.
Superior Group of Companies (NASDAQ: SGC) berichtete über die Ergebnisse des dritten Quartals 2024 und verzeichnete eine erhebliche Leistungsverbesserung. Die gesamten Nettoumsätze betrugen 149,7 Millionen US-Dollar, was einem 10%igen Anstieg im Vergleich zu 136,1 Millionen US-Dollar im dritten Quartal 2023 entspricht. Der Nettogewinn stieg auf 5,4 Millionen US-Dollar von 3,1 Millionen, während EBITDA auf 11,7 Millionen US-Dollar von 9,3 Millionen im Vorjahresvergleich anstieg. Der Vorstand genehmigte eine Vierteljährliche Dividende von 0,14 US-Dollar pro Aktie und bekräftigte die Jahresprognose des Unternehmens. CEO Michael Benstock hob die starken Verkaufszahlen, das Gewinnwachstum und den soliden operativen Cashflow des Unternehmens hervor, die durch strategische Investitionen in Menschen, Produkte und Technologie vorangetrieben wurden. Das Unternehmen hält seine Jahresumsatzprognose von 563 Millionen bis 570 Millionen US-Dollar und die Prognose für den Gewinn pro verwässerter Aktie von 0,73 bis 0,79 US-Dollar aufrecht. Eine Webkonferenz und ein Telefonkonferenz sind für heute um 17:00 Uhr Eastern Time geplant.
- Total net sales increased by 10% to $149.7 million.
- Net income rose to $5.4 million from $3.1 million.
- EBITDA increased to $11.7 million from $9.3 million.
- Board of Directors approved a $0.14 per share quarterly dividend.
- Full-year sales outlook maintained at $563 million to $570 million.
- Earnings per diluted share forecast maintained at $0.73 to $0.79.
- None.
Insights
Superior Group of Companies delivered a strong third quarter with notable improvements across key metrics.
The maintained full-year guidance of
Key positives include:
- Strong sequential and YoY growth in revenue and profits
- Improved EBITDA margins
- Sustained dividend policy
- Management's confidence in full-year targets
– Total net sales of
– Net income of
– EBITDA of
– Board of Directors approves
– Reaffirms full-year outlook –
ST. PETERSBURG, Fla., Nov. 06, 2024 (GLOBE NEWSWIRE) -- Superior Group of Companies, Inc. (NASDAQ: SGC) (the “Company”), today announced its third quarter 2024 results.
“We grew our sales and profit both sequentially from the prior quarter and year over year, representing our strongest quarterly results of 2024 despite only modest improvement in macro-related customer sentiment,” said Michael Benstock, Chief Executive Officer. “We also continue to drive solid operating cash flow as our entire team is focused on driving sales by leveraging our ongoing growth-oriented investments in people, products and technology, while striving to further optimize efficiencies and margins. Today we are reaffirming our full-year outlook and are pleased to report that our Board has again approved a quarterly dividend. Superior Group of Companies is as energized as ever by our multitude of opportunities to gain market share across the attractive end markets we serve in our quest to further enhance long-term shareholder value.”
Third Quarter Results
For the third quarter ended September 30, 2024, net sales increased
Fourth Quarter 2024 Dividend
The Board of Directors declared a quarterly dividend of
2024 Full-Year Outlook
The Company is maintaining its full year 2024 sales outlook range of
Webcast and Conference Call
The Company will host a webcast and conference call at 5:00 pm Eastern Time today. The live webcast and archived replay can be accessed in the investor relations section of the Company's website at https://ir.superiorgroupofcompanies.com/Presentations. Interested individuals may also join the teleconference by dialing 1-844-861-5505 for U.S. dialers and 1-412-317-6586 for International dialers. The Canadian Toll-Free number is 1-866-605-3852. Please ask to be joined to the Superior Group of Companies call. A telephone replay of the teleconference will be available through November 20, 2024. To access the replay, dial 1-877-344-7529 in the United States or 1-412-317-0088 from international locations. Canadian dialers can access the replay at 855-669-9658. Please reference conference number 5346270 for replay access.
The Company’s website at https://ir.superiorgroupofcompanies.com/Presentations will also contain an updated investor presentation.
Disclosure Regarding Forward Looking Statements
Certain matters discussed in this press release are “forward-looking statements” intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements can generally be identified by use of the words “may,” “will,” “should,” “could,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” “project,” “potential,” or “plan” or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements in this press release may include, without limitation: (1) projections of revenue, income, and other items relating to our financial position and results of operations, including short term and long term plans for cash, (2) statements of our plans, objectives, strategies, goals and intentions, (3) statements regarding the capabilities, capacities, market position and expected development of our business operations and (4) statements of expected industry and general economic trends.
Such forward-looking statements are subject to certain risks and uncertainties that may materially adversely affect the anticipated results. Such risks and uncertainties include, but are not limited to, the following: the impact of competition; uncertainties related to supply disruptions, inflationary environment (including with respect to the cost of finished goods and raw materials and shipping costs), employment levels (including labor shortages), and general economic and political conditions in the areas of the world in which the Company operates or from which it sources its supplies or the areas of the United States of America (“U.S.” or “United States”) in which the Company’s customers are located; changes in the healthcare, retail chain, food service, transportation and other industries where uniforms and service apparel are worn; our ability to identify suitable acquisition targets, discover liabilities associated with such businesses during the diligence process, successfully integrate any acquired businesses, or successfully manage our expanding operations; the price and availability of raw materials; attracting and retaining senior management and key personnel; the effect of the Company’s previously disclosed material weakness in internal control over financial reporting; the Company’s ability to successfully remediate its material weakness in internal control over financial reporting and to maintain effective internal control over financial reporting; and other factors described in the Company’s filings with the Securities and Exchange Commission, including those described in the “Risk Factors” section of our Annual Report on Form 10-K for the fiscal year ended December 31, 2023 and the Quarterly Report on Form 10-Q for the quarter ended September 30, 2024. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements made herein and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are only made as of the date of this press release and we disclaim any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances, except as may be required by law.
About Superior Group of Companies, Inc. (SGC):
Established in 1920, Superior Group of Companies is comprised of three attractive business segments each serving large, fragmented and growing addressable markets. Across Healthcare Apparel, Branded Products and Contact Centers, each segment enables businesses to create extraordinary brand engagement experiences for their customers and employees. SGC’s commitment to service, quality, advanced technology, and omnichannel commerce provides unparalleled competitive advantages. We are committed to enhancing shareholder value by continuing to pursue a combination of organic growth and strategic acquisitions. For more information, visit www.superiorgroupofcompanies.com.
Investor Relations Contact:
Investors@Superiorgroupofcompanies.com
| SUPERIOR GROUP OF COMPANIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (In thousands, except shares and per share data) | ||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| Net sales | $ | 149,690 | $ | 136,126 | $ | 420,268 | $ | 396,061 | ||||||||
| Costs and expenses: | ||||||||||||||||
| Cost of goods sold | 89,144 | 82,928 | 253,650 | 248,159 | ||||||||||||
| Selling and administrative expenses | 52,215 | 47,246 | 149,339 | 134,007 | ||||||||||||
| Other periodic pension costs | 189 | 214 | 567 | 642 | ||||||||||||
| Interest expense | 1,569 | 2,464 | 4,897 | 7,658 | ||||||||||||
| 143,117 | 132,852 | 408,453 | 390,466 | |||||||||||||
| Income before income tax expense | 6,573 | 3,274 | 11,815 | 5,595 | ||||||||||||
| Income tax expense | 1,170 | 160 | 1,900 | 380 | ||||||||||||
| Net income | $ | 5,403 | $ | 3,114 | $ | 9,915 | $ | 5,215 | ||||||||
| Net income per share: | ||||||||||||||||
| Basic | $ | 0.34 | $ | 0.19 | $ | 0.62 | $ | 0.33 | ||||||||
| Diluted | $ | 0.33 | $ | 0.19 | $ | 0.60 | $ | 0.32 | ||||||||
| Weighted average shares outstanding during the period: | ||||||||||||||||
| Basic | 16,107,549 | 15,992,792 | 16,118,885 | 15,954,264 | ||||||||||||
| Diluted | 16,543,990 | 16,155,355 | 16,588,914 | 16,132,832 | ||||||||||||
| Cash dividends per common share | $ | 0.14 | $ | 0.14 | $ | 0.42 | $ | 0.42 | ||||||||
| SUPERIOR GROUP OF COMPANIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except shares and par value data) | ||||||||
| September 30, | December 31, | |||||||
| 2024 | 2023 | |||||||
| (Unaudited) | ||||||||
| ASSETS | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 18,373 | $ | 19,896 | ||||
| Accounts receivable, less allowance for doubtful accounts of | 98,822 | 103,494 | ||||||
| Inventories | 93,771 | 98,067 | ||||||
| Contract assets | 50,326 | 48,715 | ||||||
| Prepaid expenses and other current assets | 10,177 | 9,188 | ||||||
| Total current assets | 271,469 | 279,360 | ||||||
| Property, plant and equipment, net | 42,859 | 46,890 | ||||||
| Operating lease right-of-use assets | 16,282 | 17,909 | ||||||
| Deferred tax asset | 12,333 | 12,356 | ||||||
| Intangible assets, net | 47,959 | 51,160 | ||||||
| Other assets | 16,448 | 14,775 | ||||||
| Total assets | $ | 407,350 | $ | 422,450 | ||||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 46,292 | $ | 50,520 | ||||
| Other current liabilities | 42,381 | 43,978 | ||||||
| Current portion of long-term debt | 5,625 | 4,688 | ||||||
| Current portion of acquisition-related contingent liabilities | 740 | 1,403 | ||||||
| Total current liabilities | 95,038 | 100,589 | ||||||
| Long-term debt | 78,755 | 88,789 | ||||||
| Long-term pension liability | 13,517 | 13,284 | ||||||
| Long-term acquisition-related contingent liabilities | - | 557 | ||||||
| Long-term operating lease liabilities | 11,295 | 12,809 | ||||||
| Other long-term liabilities | 9,236 | 8,784 | ||||||
| Total liabilities | 207,841 | 224,812 | ||||||
| Shareholders’ equity: | ||||||||
| Preferred stock, $.001 par value - authorized 300,000 shares (none issued) | - | - | ||||||
| Common stock, $.001 par value - authorized 50,000,000 shares, issued and outstanding 16,331,962 and 16,564,712 shares, respectively | 16 | 16 | ||||||
| Additional paid-in capital | 81,859 | 77,443 | ||||||
| Retained earnings | 121,052 | 122,464 | ||||||
| Accumulated other comprehensive loss, net of tax: | ||||||||
| Pensions | (1,054 | ) | (1,122 | ) | ||||
| Foreign currency translation adjustment | (2,364 | ) | (1,163 | ) | ||||
| Total shareholders’ equity | 199,509 | 197,638 | ||||||
| Total liabilities and shareholders’ equity | $ | 407,350 | $ | 422,450 | ||||
| SUPERIOR GROUP OF COMPANIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (In thousands) | ||||||||
| Nine Months Ended September 30, | ||||||||
| 2024 | 2023 | |||||||
| CASH FLOWS FROM OPERATING ACTIVITIES | ||||||||
| Net income | $ | 9,915 | $ | 5,215 | ||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||
| Depreciation and amortization | 9,872 | 10,331 | ||||||
| Inventory write-downs | 1,893 | 1,609 | ||||||
| Provision for bad debts - accounts receivable | 251 | 64 | ||||||
| Share-based compensation expense | 2,905 | 3,523 | ||||||
| Change in fair value of acquisition-related contingent liabilities | 363 | (442 | ) | |||||
| Change in fair value of written put options | 653 | (460 | ) | |||||
| Changes in assets and liabilities: | ||||||||
| Accounts receivable | 3,891 | 9,650 | ||||||
| Contract assets | (1,671 | ) | 6,208 | |||||
| Inventories | 2,241 | 18,280 | ||||||
| Prepaid expenses and other current assets | (1,292 | ) | 3,462 | |||||
| Other assets | (959 | ) | (844 | ) | ||||
| Accounts payable and other current liabilities | (4,292 | ) | 2,148 | |||||
| Payment of acquisition-related contingent liabilities | (686 | ) | (279 | ) | ||||
| Long-term pension liability | 325 | 561 | ||||||
| Other long-term liabilities | 1,088 | 362 | ||||||
| Net cash provided by operating activities | 24,497 | 59,388 | ||||||
| CASH FLOWS FROM INVESTING ACTIVITIES | ||||||||
| Additions to property, plant and equipment | (2,911 | ) | (4,023 | ) | ||||
| Net cash used in investing activities | (2,911 | ) | (4,023 | ) | ||||
| CASH FLOWS FROM FINANCING ACTIVITIES | ||||||||
| Proceeds from borrowings of debt | 31,000 | 4,000 | ||||||
| Repayment of debt | (40,281 | ) | (51,813 | ) | ||||
| Debt issuance costs | - | (300 | ) | |||||
| Payment of cash dividends | (6,994 | ) | (6,886 | ) | ||||
| Payment of acquisition-related contingent liabilities | (897 | ) | (553 | ) | ||||
| Proceeds received on exercise of stock options | 1,118 | 97 | ||||||
| Common shares repurchased and retired | (6,346 | ) | - | |||||
| Net cash used in financing activities | (22,400 | ) | (55,455 | ) | ||||
| Effect of currency exchange rates on cash | (709 | ) | 97 | |||||
| Net increase (decrease) in cash and cash equivalents | (1,523 | ) | 7 | |||||
| Cash and cash equivalents balance, beginning of period | 19,896 | 17,722 | ||||||
| Cash and cash equivalents balance, end of period | $ | 18,373 | $ | 17,729 | ||||
| SUPERIOR GROUP OF COMPANIES, INC. AND SUBSIDIARIES NON-GAAP FINANCIAL MEASURES (Unaudited) (In thousands, except shares and per share data) | ||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| Net income | $ | 5,403 | $ | 3,114 | $ | 9,915 | $ | 5,215 | ||||||||
| Interest expense | 1,569 | 2,464 | 4,897 | 7,658 | ||||||||||||
| Income tax expense | 1,170 | 160 | 1,900 | 380 | ||||||||||||
| Depreciation and amortization | 3,252 | 3,515 | 9,872 | 10,331 | ||||||||||||
| Impairment Charge | 260 | - | 260 | - | ||||||||||||
| EBITDA(1) | $ | 11,654 | $ | 9,253 | $ | 26,844 | $ | 23,584 | ||||||||
| EBITDA margin(1) | 7.8 | % | 6.8 | % | 6.4 | % | 6.0 | % | ||||||||
(1) EBITDA, which is a non-GAAP financial measure, is defined as net income excluding interest expense, income tax expense and depreciation and amortization expense. EBITDA margin is defined as EBITDA divided by net sales. The Company believes EBITDA is an important measure of operating performance because it allows management, investors and others to evaluate and compare the Company’s core operating results from period to period by removing (i) the impact of the Company’s capital structure (interest expense from outstanding debt), (ii) tax consequences and (iii) asset base (depreciation and amortization). The Company uses EBITDA internally to monitor operating results and to evaluate the performance of its business. In addition, the compensation committee has used EBITDA in evaluating certain components of executive compensation, including performance-based annual incentive programs. EBITDA is not a measure of financial performance under GAAP. EBITDA should not be considered in isolation or as an alternative to net income, cash flows from operating activities or any other measure determined in accordance with GAAP. The items excluded to calculate EBITDA are significant components in understanding and assessing the Company’s results of operations. The presentation of the Company’s EBITDA may change from time to time, including as a result of changed business conditions, new accounting pronouncements or otherwise. If the presentation changes, the Company undertakes to disclose any change between periods and the reasons underlying that change. The Company’s EBITDA may not be comparable to a similarly titled measure of another company because other entities may not calculate EBITDA in the same manner.
| SUPERIOR GROUP OF COMPANIES, INC. AND SUBSIDIARIES SUPPLEMENTAL INFORMATION - REPORTABLE SEGMENTS (Unaudited) (In thousands) | ||||||||||||||||||||||||
| Branded Products | Healthcare Apparel | Contact Centers | Intersegment Eliminations | Other | Total | |||||||||||||||||||
| For the Three Months Ended September 30, 2024: | ||||||||||||||||||||||||
| Net sales | $ | 92,547 | $ | 33,025 | $ | 25,038 | $ | (920 | ) | $ | - | $ | 149,690 | |||||||||||
| Cost of goods sold | 59,037 | 19,216 | 11,296 | (405 | ) | - | 89,144 | |||||||||||||||||
| Gross margin | 33,510 | 13,809 | 13,742 | (515 | ) | - | 60,546 | |||||||||||||||||
| Selling and administrative expenses | 24,223 | 11,240 | 11,482 | (515 | ) | 5,785 | 52,215 | |||||||||||||||||
| Other periodic pension cost | - | - | - | - | 189 | 189 | ||||||||||||||||||
| Add: Impairment charge | - | 260 | - | - | - | 260 | ||||||||||||||||||
| Add: Depreciation and amortization | 1,446 | 944 | 770 | - | 92 | 3,252 | ||||||||||||||||||
| Segment EBITDA(1) | $ | 10,733 | $ | 3,773 | $ | 3,030 | $ | - | $ | (5,882 | ) | $ | 11,654 | |||||||||||
| Branded Products | Healthcare Apparel | Contact Centers | Intersegment Eliminations | Other | Total | |||||||||||||||||||
| For the Three Months Ended September 30, 2023: | ||||||||||||||||||||||||
| Net sales | $ | 83,512 | $ | 29,649 | $ | 24,121 | $ | (1,156 | ) | $ | - | $ | 136,126 | |||||||||||
| Cost of goods sold | 54,588 | 18,165 | 10,724 | (549 | ) | - | 82,928 | |||||||||||||||||
| Gross margin | 28,924 | 11,484 | 13,397 | (607 | ) | - | 53,198 | |||||||||||||||||
| Selling and administrative expenses | 23,418 | 9,493 | 10,224 | (607 | ) | 4,718 | 47,246 | |||||||||||||||||
| Other periodic pension cost | - | - | - | - | 214 | 214 | ||||||||||||||||||
| Add: Depreciation and amortization | 1,452 | 1,064 | 880 | - | 119 | 3,515 | ||||||||||||||||||
| Segment EBITDA(1) | $ | 6,958 | $ | 3,055 | $ | 4,053 | $ | - | $ | (4,813 | ) | $ | 9,253 | |||||||||||
| Branded Products | Healthcare Apparel | Contact Centers | Intersegment Eliminations | Other | Total | |||||||||||||||||||
| For the Nine Months Ended September 30, 2024: | ||||||||||||||||||||||||
| Net sales | $ | 260,911 | $ | 88,854 | $ | 73,422 | $ | (2,919 | ) | $ | - | $ | 420,268 | |||||||||||
| Cost of goods sold | 167,534 | 53,335 | 34,075 | (1,294 | ) | - | 253,650 | |||||||||||||||||
| Gross margin | 93,377 | 35,519 | 39,347 | (1,625 | ) | - | 166,618 | |||||||||||||||||
| Selling and administrative expenses | 70,486 | 30,931 | 32,436 | (1,625 | ) | 17,111 | 149,339 | |||||||||||||||||
| Other periodic pension cost | - | - | - | - | 567 | 567 | ||||||||||||||||||
| Add: Impairment charge | - | 260 | - | - | - | 260 | ||||||||||||||||||
| Add: Depreciation and amortization | 4,513 | 2,837 | 2,246 | - | 276 | 9,872 | ||||||||||||||||||
| Segment EBITDA(1) | $ | 27,404 | $ | 7,685 | $ | 9,157 | $ | - | $ | (17,402 | ) | $ | 26,844 | |||||||||||
| Branded Products | Healthcare Apparel | Contact Centers | Intersegment Eliminations | Other | Total | |||||||||||||||||||
| For the Nine Months Ended September 30, 2023: | ||||||||||||||||||||||||
| Net sales | $ | 244,955 | $ | 85,875 | $ | 68,935 | $ | (3,704 | ) | $ | - | $ | 396,061 | |||||||||||
| Cost of goods sold | 164,492 | 53,872 | 31,545 | (1,750 | ) | - | 248,159 | |||||||||||||||||
| Gross margin | 80,463 | 32,003 | 37,390 | (1,954 | ) | - | 147,902 | |||||||||||||||||
| Selling and administrative expenses | 63,833 | 28,461 | 29,502 | (1,954 | ) | 14,165 | 134,007 | |||||||||||||||||
| Other periodic pension cost | - | - | - | - | 642 | 642 | ||||||||||||||||||
| Add: Depreciation and amortization | 4,826 | 3,014 | 2,210 | - | 281 | 10,331 | ||||||||||||||||||
| Segment EBITDA(1) | $ | 21,456 | $ | 6,556 | $ | 10,098 | $ | - | $ | (14,526 | ) | $ | 23,584 | |||||||||||
(1) Segment EBITDA is our primary measure of segment profitability under U.S. GAAP ASC 280 “Segment Reporting”. Amounts included in income before income tax expense and excluded from Segment EBITDA include: interest expense and depreciation and amortization expense. Total EBITDA is a non-GAAP financial measure. Please see reconciliation of Total EBITDA included in the Non-GAAP Financial Measures table above.
FAQ
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