Tile Shop Q1 net sales down 10.1% to $91.7M; EPS $0.04 vs $0.06

TILE SHOP HOLDINGS, INC.

2024-Q1 EPS reported $0.04 revenue$91,728,000

Net sales $91.7M vs $102.0M a year ago, a decline of 10.1%; comparable store sales down 10.2%.
Net income $1.7M ($0.04 diluted EPS) compared with $2.5M ($0.06 diluted EPS) in Q1 2023.
Adjusted EBITDA fell to $7.4M (8.1% of sales) from $10.3M (10.1% of sales).
Gross margin improved 160 bps to 65.8% on lower freight and product costs.
Cash increased to $24.0M; no outstanding borrowings on $75M credit line; no long-term debt.

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, 2024 results: revenue $ 91,728, net income $ 1,689, EPS $ 0.04.

Period: first quarter ended March 31, 2024
Revenue: $ 91,728
Net income: $ 1,689
EPS: $ 0.04
Result: reported results

Exact text from the filing

Three Months Ended (unaudited, dollars in thousands, except per March 31, share data) 2024 2023 Net sales $ 91,728 $ 102,019 Net sales decline (1) (10.1 )% (0.4 )% Comparable store sales (decline) growth (2) (10.2 )% 0.1 % Gross margin rate 65.8 % 64.2 % Income from operations as a % of net sales 2.5 % 4.0 % Net income $ 1,689 $ 2,512 Net income per diluted share $ 0.04 $ 0.06 Adjusted EBITDA $ 7,417 $ 10,313 Adjusted EBITDA as a % of net sales 8.1 % 10.1 % Number of stores open at the end of period 142 142

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Source: SEC EDGAR

accession 0001104659-24-059122

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