Weyco Group reports record FY 2022 sales $351.7M, EPS $3.07; Q4 operating earnings record $15.1M

WEYCO GROUP INC

FY 2022 net sales record $351.7M (+31% YoY); operating earnings record $40.4M (+57%); net earnings record $29.5M ($3.07 diluted EPS).
Q4 net sales $99.0M (-2% YoY); Q4 operating earnings record $15.1M (+18%); Q4 EPS $1.06 vs $1.07 last year.
North American wholesale net sales record $283.2M (+38%); retail net sales record $36.7M (+16%).
Gross margins in wholesale returned to pre-pandemic levels due to price increases; selling and administrative expenses up.
Board declared cash dividend of $0.24 per share, payable March 31, 2023 to holders of record March 17, 2023.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

WEYCO GROUP INC reported fourth quarter ended December 31, 2022 results: revenue $99.0 million, net income $10.2 million, EPS $1.06 per diluted share.

Period: fourth quarter ended December 31, 2022
Revenue: $99.0 million
Net income: $10.2 million
EPS: $1.06 per diluted share
Result: reported results

Exact text from the filing

WEYS) (“we,” “our,” “us” and the “Company”) today announced financial results for the quarter and year ended December 31, 2022. Fourth Quarter 2022 Consolidated net sales were $99.0 million, down 2% from $101.4 million in the fourth quarter of 2021. Consolidated gross earnings increased to 46.6% of net sales compared to 40.2% of net sales in last year’s fourth

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

WEYCO GROUP INC reported full year ended December 31, 2022 results: revenue $351.7 million, net income $29.5 million, EPS $3.07 per diluted share.

Period: full year ended December 31, 2022
Revenue: $351.7 million
Net income: $29.5 million
EPS: $3.07 per diluted share
Result: reported results

Exact text from the filing

to $41,000 last year. The increase was driven by improved performance of our retail business in Australia. Full Year 2022 Consolidated net sales for the full year were a record $351.7 million, up 31% compared to $267.6 million in 2021. Consolidated gross earnings as a percent of net sales were 41.1% and 40.1% in 2022 and 2021, respectively. Operating earnings were a

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Source: SEC EDGAR

accession 0001104659-23-029571

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