Tile Shop Q1 net sales flat at $102M; net income down to $2.5M from $3.5M

TILE SHOP HOLDINGS, INC.

2023-Q1 EPS reported $0.06 revenue$102,019,000

Net sales $102.0M (down 0.4% YoY); comparable store sales +0.1%.
Gross margin 64.2% vs 65.2% last year; declined on inflationary cost pressure.
Net income $2.5M ($0.06 diluted EPS) vs $3.5M ($0.07) in Q1 2022.
Adjusted EBITDA $10.3M vs $11.7M; margin 10.1% vs 11.4%.
Repaid $20.4M of line of credit; debt balance reduced to $25.0M from $45.4M.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TILE SHOP HOLDINGS, INC. reported first quarter ended March 31, 2023 results: revenue $ 102,019, net income $ 2,512, EPS $ 0.06.

Period: first quarter ended March 31, 2023
Revenue: $ 102,019
Net income: $ 2,512
EPS: $ 0.06
Result: reported results

Exact text from the filing

our debt balance down to $25.0 million as of the end of the quarter.” Three Months Ended (unaudited, dollars in thousands, except per March 31, share data) 2023 2022 Net sales $ 102,019 $ 102,471 Net sales growth (1) (0.4 )% 11.3 % Comparable store sales growth (2) 0.1 % 10.7 % Gross margin rate 64.2 % 65.2 % Income from operations as a % of net sales 4.0 % 4.6 %

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TILE SHOP HOLDINGS, INC. filing history →

Source: SEC EDGAR

accession 0001104659-23-055786

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