Acme United Q4/FY2023: adjusted EPS $2.23 vs $0.82; gross margin 37.7%; debt down $19M

ACME UNITED CORP

Full year 2023 net sales $191.5M (-1% YoY); Q4 net sales $41.9M (-5% YoY, -1% ex-divestiture).
Adjusted net income (ex-divestiture) $8.2M ($2.23/dil share) vs $3.0M ($0.82) in 2022.
Gross margin improved to 37.7% (FY) from 32.8%; debt reduced from $55M to $19M; free cash flow $24M.
Sold Camillus and Cuda hunting/fishing lines for $19.8M, after-tax gain $9.6M.
CEO cites cost savings of $6.5M, market share gains in first aid; expects strong 2024.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ACME UNITED CORP reported the three months ended December 31, 2023 results: revenue $41.9 million, net income $11.2 million, or $2.87 per diluted share, EPS $2.87 per diluted share.

Period: the three months ended December 31, 2023
Revenue: $41.9 million
Net income: $11.2 million, or $2.87 per diluted share
EPS: $2.87 per diluted share
Result: reported results

Exact text from the filing

31, 2023 were $191.5 million compared to $194.0 million for the year ended December 31, 2022, a decrease of 1%. Net sales for the three months ended December 31, 2023, were $41.9 million compared to $44.1 million in the same period of 2022, a decrease of 5%. Excluding the impact of the Camillus and Cuda product lines sold on November 1, 2023, sales for the fourth

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ACME UNITED CORP reported the year ended December 31, 2023 results: revenue $191.5 million, net income $17.8 million, or $4.86 per diluted share, EPS $4.86 per diluted share.

Period: the year ended December 31, 2023
Revenue: $191.5 million
Net income: $17.8 million, or $4.86 per diluted share
EPS: $4.86 per diluted share
Result: reported results

Exact text from the filing

AND FULL YEAR 2023 EARNINGS SHELTON, CT – March 1, 2024 – Acme United Corporation (NYSE American: ACU) today announced that net sales for the year ended December 31, 2023 were $191.5 million compared to $194.0 million for the year ended December 31, 2022, a decrease of 1%. Net sales for the three months ended December 31, 2023, were $41.9 million compared to $44.1

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Source: SEC EDGAR

accession 0000950170-24-023566

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