EACO reports record Q1 net sales of $76.3M, net income down 30.6% YoY

EACO CORP

2023-Q1 EPS reported $0.97 revenue$76,319,000

Net sales $76.3M, up 19.6% YoY; net income $4.7M, down 30.6% YoY (prior year had $3.4M tax credit benefit).
Diluted EPS $0.97 vs $1.39 in prior year quarter, a 30.2% decline.
Sales headcount rose 12% to 366 employees; sales focus teams (SFTs) unchanged at 101.
Management expects continued growth in sales headcount and SFTs in fiscal 2023.
Company believes it continues to gain market share through its local presence business model.

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 0.95

EACO CORP reported quarter ended November 30, 2022 results: revenue $ 76,319, net income $ 4,711, EPS $ 0.97.

Period: quarter ended November 30, 2022
Revenue: $ 76,319
Net income: $ 4,711
EPS: $ 0.97
Result: reported results

Exact text from the filing

Net sales, net income and earnings per share were as follows for the quarter ended November 30, 2022 (dollars in thousands, except per share information): Three Months Ended November, % 2022 2021 Change (unaudited) (unaudited) Net sales $ 76,319 $ 63,822 19.6 % Net income $ 4,711 $ 6,786 * (30.6 %) Basic and diluted earnings per common share $ 0.97 $ 1.39 (30.2 %)

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Source: SEC EDGAR

accession 0001104659-23-001922

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