Acme United Q1 diluted EPS up 39% to $0.39; gross margin expands to 38.7%

ACME UNITED CORP

2024-Q1 EPS reported $0.39 revenue$44,956,000

Net sales $45.0M, down 2% YoY; ex-divested lines up 1%. Net income $1.6M, up 65%.
Diluted EPS $0.39 vs $0.28, a 39% increase. Gross margin 38.7% vs 35.5%.
Bank debt less cash dropped to $31.5M from $48.4M a year ago; generated $5.4M free cash flow in past 12 months.
U.S. segment sales down 2%, Europe up 5% in USD, Canada down 7%.
Management cites productivity improvements and reduced inbound shipping costs; new initiatives in first aid, cutting tools, spill clean-up.

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 quarter ended March 31, 2024 results: revenue $45.0 million, net income $1.6 million, or $0.39 per diluted share, EPS $0.39 per diluted share.

Period: the quarter ended March 31, 2024
Revenue: $45.0 million
Net income: $1.6 million, or $0.39 per diluted share
EPS: $0.39 per diluted share
Result: reported results

Exact text from the filing

FOR FIRST QUARTER OF 2024 SHELTON, CT – April 19, 2024 – Acme United Corporation (NYSE American: ACU) today announced that net sales for the quarter ended March 31, 2024 were $45.0 million compared to $45.8 million for the quarter ended March 31, 2023, a decrease of 2%. Excluding the impact of the Camillus and Cuda hunting and fishing product lines sold on November

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Source: SEC EDGAR

accession 0000950170-24-045741

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