Weyco Q3 net sales $84.2M (-13% YoY); EPS $0.98 vs $1.12; dividend $0.25

WEYCO GROUP INC

2023-Q3 EPS reported $2.27 revenue$237,458,000

Consolidated net sales $84.2M, down 13% from record $97.0M in Q3 2022.
Diluted EPS $0.98 vs $1.12 last year; operating earnings $12.4M (-12% YoY).
Wholesale sales $69.5M (-15% YoY); BOGS sales down 42%; Nunn Bush +11%.
Retail sales record $7.6M (+6% YoY) driven by e-commerce gains at BOGS and Florsheim.
Board declared $0.25/share dividend, payable Jan 2, 2024 to holders of record Nov 27, 2023.

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

WEYCO GROUP INC reported quarter ended September 30, 2023 results: revenue $84.2 million, net income $9.3 million, EPS $0.98 per diluted share.

Period: quarter ended September 30, 2023
Revenue: $84.2 million
Net income: $9.3 million
EPS: $0.98 per diluted share
Result: reported results

Exact text from the filing

Weyco Group, Inc. (NASDAQ: WEYS) (“we,” “our,” “us” and the “Company”) today announced financial results for the quarter ended September 30, 2023. Third Quarter 2023 Consolidated net sales were $84.2 million, down 13% compared to record third-quarter sales of $97.0 million in 2022. Consolidated gross earnings increased to 43.0% of net sales compared to 40.6% of net sales in last year’s third quarter, due mainly to higher gross margins in our North American wholesale segment. Quarterly earnings from operations were $12.4 million, down 12% compared to record operating earnings of $14.2 million in 2022. Quarterly net earnings totaled $9.3 million, or $0.98 per diluted share, compared to record net earnings of $10.8 million, or $1.12 per diluted share, last year.

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Source: SEC EDGAR

accession 0001104659-23-115225

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