SCOTTS LIQUID GOLD INC - SLGD STOCK NEWS

Scott's Liquid Gold (OTC: SLGD) reported a net loss of $0.5 million for Q1 2022, compared to a loss of $0.3 million in Q1 2021. Net sales decreased to $5.8 million from $9.4 million in the previous year, primarily due to the sale of the Dryel brand and the end of a distribution agreement for Batiste products, impacting revenues by $2.5 million. Supply chain challenges and decreased demand from China also contributed to lower sales figures. Despite these challenges, targeted marketing for Kids N Pets and Messy Pet brands led to slight sales increases.

Scott's Liquid Gold-Inc. (OTC: SLGD) announced its 2021 financial results, reporting net sales of $35.9 million, up from $30.2 million in 2020. Despite the sales increase, the company faced a net loss of $11.1 million, largely due to impairment charges of $7.1 million and restructuring costs. In Q4 2021, net sales were $8.9 million, nearly unchanged from the previous year, with a net loss of $7.3 million. The company attributed these losses to supply chain disruptions, rising logistics costs, and the sale of the Dryel brand, which contributed to non-cash losses.

Scott's Liquid Gold-Inc (OTC: SLGD) has announced the sale of its Dryel brand to Summit Brands as of December 23, 2021. This divestiture aims to streamline Scott's brand portfolio and strengthen its balance sheet. The proceeds from the sale will be utilized to reduce debt, allowing the company to focus on growth and cash generation in 2022. Scott's, a well-known manufacturer of consumer products, highlighted this move as part of its strategy to enhance operational efficiency.

Scott's Liquid Gold reported a net sales increase of 18% in Q3 2021, reaching $8.5 million compared to $7.2 million in the previous year. Despite this growth, the company faced a net loss of $2.5 million per share, largely due to a $1.6 million valuation allowance against deferred tax assets and a $0.4 million inventory impairment. Increased logistics expenses and the impact of supply chain disruptions also affected performance. The company has entered a new $2 million loan agreement to bolster operations.

Scott’s Liquid Gold announced leadership changes as part of its transformation strategy. Effective October 22, 2021, Tisha Pedrazzini has been promoted to President and Principal Executive Officer, while David Arndt is appointed Chief Financial Officer. Pedrazzini aims to drive growth and operational efficiency, expressing confidence in the company’s brands. The board supports these appointments, anticipating enhanced shareholder value. Interim Co-President Kevin Paprzycki will resign on the same date, with gratitude for his pandemic-era leadership.

Scott's Liquid Gold (OTC: SLGD) reported second-quarter results for 2021, showcasing a net sales increase of 38% to $8.4 million, up from $6.1 million a year earlier. This growth was fueled by the BIZ and Dryel brands and a recovery in Batiste sales post-COVID-19 impact. However, the company faced a net loss of $1.1 million, largely due to $0.8 million in one-time restructuring charges and ongoing supply chain issues affecting key products. Management aims to enhance profitability through cost-cutting measures and improved efficiency.

Scott’s Liquid Gold-Inc. (OTC: SLGD) reported a 20% increase in net sales for Q1 2021, totaling $9.4 million, up from $7.9 million a year prior. This growth was bolstered by acquisitions and a rebound in Batiste Dry Shampoo sales. However, the company faced a net loss of $0.3 million due to rising costs linked to COVID-19 supply chain issues. The recently appointed Interim Co-Presidents, Tisha Pedrazzini and Kevin Paprzycki, are focused on refining strategies for sustainable growth while addressing operational challenges.

Scott’s Liquid Gold's (OTC: SLGD) Board of Directors announced significant organizational changes. Mark Goldstein has retired as CEO and Chairman effective April 26, 2021, after 31 years, during which he grew sales and developed a diverse brand portfolio. Tisha Pedrazzini and Kevin Paprzycki have been appointed Interim Co-Presidents. Dan Roller becomes Chairman of the Board. The company, known for its household and personal care products, is positioned for future growth, thanks to strong leadership and a solid brand reputation.

Scott’s Liquid Gold (OTC: SLGD) reported its 2020 operating results, highlighting both achievements and challenges. CEO Mark Goldstein noted the company's transition to an asset-light model, integrating acquisitions like Kids-N-Pets, Biz, and Dryel. Despite a net loss of $1.5 million due to supply chain disruptions and impairments, improved cash flow was observed from reduced inventory and outsourcing. The company anticipates growth opportunities in 2021, while acknowledging ongoing raw material delays. Additionally, they amended loan agreements for increased flexibility during these challenges.