Tandy Leather Factory Reports Second Quarter 2024 Results
Tandy Leather Factory (Nasdaq: TLF) reported its Q2 2024 financial results. Key highlights include:
- Revenues of $17.3 million, down 1.1% from 2023
- Operating income of $63,000
- Net income of $0.1 million, down from $0.5 million in 2023
- Gross margins of 58.0%, down from 62.5% in 2023
- Operating expenses of $10.0 million, down 1.7% from 2023
- Adjusted EBITDA of $0.8 million
- Cash and cash equivalents of $11.5 million
The company attributed the sales decline to lower discretionary income and sluggish consumer spending. Despite challenges, Tandy Leather Factory managed to reduce operating expenses and maintain a strong cash position.
Tandy Leather Factory (Nasdaq: TLF) ha riportato i risultati finanziari del secondo trimestre del 2024. Tra i principali risultati si segnalano:
- Ricavi di 17,3 milioni di dollari, in calo dell'1,1% rispetto al 2023
- Utile operativo di 63.000 dollari
- Utile netto di 0,1 milioni di dollari, in calo rispetto a 0,5 milioni di dollari nel 2023
- Margini lordi del 58,0%, in calo rispetto al 62,5% nel 2023
- Spese operative di 10,0 milioni di dollari, in calo dell'1,7% rispetto al 2023
- EBITDA rettificato di 0,8 milioni di dollari
- Liquidità e equivalenti di cassa di 11,5 milioni di dollari
La società ha attribuito il calo delle vendite a un reddito disponibile più basso e a una spesa dei consumatori stagnante. Nonostante le sfide, Tandy Leather Factory è riuscita a ridurre le spese operative e mantenere una posizione di cassa solida.
Tandy Leather Factory (Nasdaq: TLF) reportó sus resultados financieros del segundo trimestre de 2024. Los aspectos más destacados incluyen:
- Ingresos de 17,3 millones de dólares, una disminución del 1,1% en comparación con 2023
- Ingreso operativo de 63.000 dólares
- Ingreso neto de 0,1 millones de dólares, en descenso desde 0,5 millones de dólares en 2023
- Margen bruto del 58,0%, por debajo del 62,5% en 2023
- Gastos operativos de 10,0 millones de dólares, una baja del 1,7% desde 2023
- EBITDA ajustado de 0,8 millones de dólares
- Liquidez y equivalentes en efectivo de 11,5 millones de dólares
La compañía atribuyó la disminución en ventas a un ingreso discrecional más bajo y a un consumo débil. A pesar de los desafíos, Tandy Leather Factory logró reducir los gastos operativos y mantener una sólida posición de efectivo.
Tandy Leather Factory (나스닥: TLF)는 2024년 2분기 재무 결과를 발표했습니다. 주요 하이라이트는 다음과 같습니다:
- 매출 1,730만 달러, 2023년 대비 1.1% 감소
- 영업 소득 63,000 달러
- 순 소득 10만 달러, 2023년 50만 달러에서 감소
- 총 이윤율 58.0%, 2023년 62.5%에서 감소
- 영업 비용 1,000만 달러, 2023년 대비 1.7% 감소
- 조정된 EBITDA 80만 달러
- 현금 및 현금성 자산 1,150만 달러
회사는 매출 감소를 소득 감소와 소비자 지출 부진 때문으로 분석했습니다. 어려움에도 불구하고 Tandy Leather Factory는 운영 비용을 줄이고 강력한 현금 보유를 유지할 수 있었습니다.
Tandy Leather Factory (Nasdaq: TLF) a annoncé ses résultats financiers pour le deuxième trimestre 2024. Les points clés incluent:
- Revenus de 17,3 millions de dollars, en baisse de 1,1 % par rapport à 2023
- Bénéfice d'exploitation de 63 000 dollars
- Bénéfice net de 0,1 million de dollars, en baisse par rapport à 0,5 million de dollars en 2023
- Marges brutes de 58,0 %, en baisse par rapport à 62,5 % en 2023
- Dépenses d'exploitation de 10,0 millions de dollars, en baisse de 1,7 % par rapport à 2023
- EBITDA ajusté de 0,8 million de dollars
- Liquidités et équivalents de liquidité de 11,5 millions de dollars
La société a attribué la baisse des ventes à un revenu discrétionnaire plus faible et à des dépenses des consommateurs stagnantes. Malgré les défis, Tandy Leather Factory a réussi à réduire ses dépenses d'exploitation et à maintenir une solide position de liquidités.
Tandy Leather Factory (Nasdaq: TLF) hat ihre finanziellen Ergebnisse für das zweite Quartal 2024 veröffentlicht. Wesentliche Höhepunkte sind:
- Umsätze von 17,3 Millionen US-Dollar, ein Rückgang von 1,1 % im Vergleich zu 2023
- Betriebseinkommen von 63.000 US-Dollar
- Nettogewinn von 0,1 Millionen US-Dollar, ein Rückgang von 0,5 Millionen US-Dollar im Jahr 2023
- Bruttomargen von 58,0 %, ein Rückgang von 62,5 % im Jahr 2023
- Betriebsausgaben von 10,0 Millionen US-Dollar, ein Rückgang von 1,7 % im Vergleich zu 2023
- Bereinigtes EBITDA von 0,8 Millionen US-Dollar
- Bargeld und Zahlungsmitteläquivalente von 11,5 Millionen US-Dollar
Das Unternehmen führte den Rückgang der Verkäufe auf ein niedrigeres verfügbares Einkommen und schleppende Verbraucher- ausgaben zurück. Trotz Herausforderungen konnte die Tandy Leather Factory die Betriebskosten senken und eine starke Liquidität beibehalten.
- Operating expenses reduced by 1.7% to $10.0 million
- Cash and cash equivalents increased to $11.5 million from $10.0 million a year earlier
- Inventory reduced to $37.1 million from $38.0 million as of December 31, 2023
- Revenues decreased by 1.1% to $17.3 million
- Net income declined to $0.1 million from $0.5 million in 2023
- Gross margins dropped to 58.0% from 62.5% in 2023
- Operating income decreased to $63,000 from $0.8 million in 2023
- Earnings per share declined to $0.01 from $0.06 in the prior year
Insights
Tandy Leather Factory's Q2 2024 results reveal a challenging financial landscape. The
However, the company's cost management efforts are evident, with operating expenses down
Tandy Leather Factory's Q2 results reflect broader macroeconomic trends affecting discretionary spending. The slight sales decline and CEO's comments on lower discretionary income align with current consumer behavior patterns. The increased promotional activity, evidenced by the gross margin compression, suggests a highly competitive retail environment.
The company's performance relative to the overall specialty retail sector warrants attention. While Tandy faces challenges, its niche market position in leather goods and DIY kits could provide some insulation from broader retail volatility. The stable store count of 100 North American locations indicates a focus on optimizing existing operations rather than expansion, which may be prudent given current market conditions. Monitoring consumer sentiment and discretionary spending trends will be important for assessing Tandy's near-term prospects.
FORT WORTH, Texas, Aug. 07, 2024 (GLOBE NEWSWIRE) -- Tandy Leather Factory, Inc. (Nasdaq: TLF) today announced the Company’s financial results for the second fiscal quarter of 2024.
Highlights from Second Quarter 2024:
- Revenues were
$17.3 million , down1.1% from 2023 - Generated operating income of
$63,000 - Net income of
$0.1 million , down from$0.5 million in 2023 - Gross margins of
58.0% , down from62.5% in 2023 - Operating expenses
$10.0 million , down1.7% from 2023 - Adjusted EBITDA* of
$0.8 million - Ended quarter with
$11.5 million of cash and cash equivalents
Tandy Leather Factory’s second quarter sales were
Janet Carr, Chief Executive Officer of the Company, said, “Our second quarter sales declined by about
Investors are encouraged to send their questions to the Company’s investor relations hotline at investorrelations@tandyleather.com.
* Adjusted EBITDA is a non-GAAP financial measure that the Company believes helps investors to compare its operating performance to that of other companies. The following is a reconciliation of the Company’s net income to Adjusted EBITDA (in millions):
| Three months ended June 30, 2024 | ||||
| Net income | $ | 0.1 | ||
| Add back: | ||||
| Depreciation and amortization | 0.3 | |||
| Interest income | (0.1 | ) | ||
| Income tax provision | 0.1 | |||
| Stock-based compensation | 0.4 | |||
| Adjusted EBITDA | $ | 0.8 | ||
Tandy Leather Factory, Inc., (http://www.tandyleather.com), headquartered in Fort Worth, Texas, is a specialty retailer of a broad product line, including leather, leatherworking tools, buckles and adornments for belts, leather dyes and finishes, saddle and tack hardware, and do-it-yourself kits. The Company distributes its products through its 100 North American stores located in 40 US states and six Canadian provinces, and one store located in Spain. Its common stock trades on the Nasdaq Capital Market under the symbol “TLF”. To be included on Tandy Leather Factory's email distribution list, go to: http://www.b2i.us/irpass.asp?BzID=1625&to=ea&s=0.
Contact: Janet Carr, Tandy Leather Factory, Inc. (817) 872-3200 or janet.carr@tandyleather.com
This news release may contain statements regarding future events, occurrences, circumstances, activities, performance, outcomes and results that are considered "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Actual results and events may differ from those projected as a result of certain risks and uncertainties. These risks and uncertainties include but are not limited to: changes in general economic conditions, negative trends in general consumer-spending levels, failure to realize the anticipated benefits of opening retail stores; availability of hides and leathers and resultant price fluctuations; change in customer preferences for our product, and other factors disclosed in our filings with the Securities and Exchange Commission. These forward-looking statements are made only as of the date hereof, and except as required by law, we do not intend to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
FAQ
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