Acme United Q3 record EPS $0.58 vs $0.02 YoY; sales up 1% to $50.4M

ACME UNITED CORP

2023-Q3 EPS reported $1.83 revenue$149,559,000

Net income $2.2M ($0.58 diluted EPS) vs $64K ($0.02) in Q3 2022; nine-month EPS $1.83, up 91%.
Gross margin improved to 38.7% from 32.0% on productivity gains and lower inbound freight.
Bank debt reduced 41% to $38M; generated $27M free cash flow and cut inventory $12M in 12 months.
Acquired Hawktree Solutions (exclusive Canadian Red Cross license for first aid/safety products), accretive expected Q4 2023.
New product placements for 2024 at major drug/hardware chains; annual productivity savings of $5M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ACME UNITED CORP reported the three months ended September 30, 2023 results: revenue $50.4 million, net income $2.2 million, EPS $0.58 per diluted share.

Period: the three months ended September 30, 2023
Revenue: $50.4 million
Net income: $2.2 million
EPS: $0.58 per diluted share
Result: reported results

Exact text from the filing

PER DILUTED SHARE SHELTON, CT – October 23, 2023 – Acme United Corporation (NYSE American: ACU) today announced that net sales for the three months ended September 30, 2023 were $50.4 million compared to $49.7 million in the same period of 2022, an increase of 1%. Net sales for the nine months ended September 30, 2023 were $149.6 million compared to $149.8 million in

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Source: SEC EDGAR

accession 0000950170-23-054531

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