Dixie Group Q1 net sales down 2.7% to $65.3M; posts operating loss of $857K

DIXIE GROUP INC

2024-Q1 EPS reported -$0.17 revenue$65,254,000

Net loss from continuing ops of $2.41M ($0.16/sh) vs $1.55M ($0.11/sh) in Q1 2023.
Gross margin fell to 24.2% from 26.6% due to under absorbed fixed costs on lower volume.
Board approved stock repurchase of up to $2.8M of common stock.
New nylon extrusion line began operations; company targets $10M in cost savings in 2024.
Q2 first four weeks net sales up ~4% YoY; order entry down ~8% YoY.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

DIXIE GROUP INC reported first quarter ended March 30, 2024 results: revenue $65,254,000, net income net loss from continuing operations in the first quarter of 2024 was $2,410,000, EPS $0.16 per diluted share.

Period: first quarter ended March 30, 2024
Revenue: $65,254,000
Net income: net loss from continuing operations in the first quarter of 2024 was $2,410,000
EPS: $0.16 per diluted share
Result: reported results

Exact text from the filing

(May 2, 2024) -- The Dixie Group, Inc. (NASDAQ: DXYN) today reported financial results for the quarter ended March 30, 2024. • Net sales in the first quarter of 2024 were $65.3 million compared to $67.1 million in the same period of the prior year • The gross profit margin for the three months of the first quarter of 2024 was 24.2% of net sales compared to

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Source: SEC EDGAR

accession 0000029332-24-000032

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