---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-24-025477"
form_type: "8-K"
ticker: "TLF"
cik: "0000909724"
company_name: "TANDY LEATHER FACTORY INC"
filed_at: "2024-05-10T23:59:59+00:00"
generated_at: "2026-06-02T04:33:59.474089+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Tandy Leather Factory Q1 revenues down 5.3% to $19.3M; net income down to $0.5M

## Summary
- Revenue $19.3M, down 5.3% YoY; gross margin 56.7% vs 58.1% due to promotional activity.
- Net income $0.5M ($0.06 EPS), down from $0.7M ($0.08) in Q1 2023.
- Adjusted EBITDA $1.1M; operating expenses down 5.2% to $10.3M.
- Cash $12.3M vs $8.6M a year ago; inventory $36.7M vs $38.0M at year-end 2023.
- CEO cites broader consumer environment and difficult comp for sales decline.

## SEC filing metadata
- accession: 0001140361-24-025477
- form_type: 8-K
- ticker: TLF
- cik: 0000909724
- company_name: TANDY LEATHER FACTORY INC
- filed_at: 2024-05-10T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/909724/000114036124025477/0001140361-24-025477-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/909724/000114036124025477/ef20028915_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-24-025477
- JSON: https://secwatch.observer/filing/0001140361-24-025477.json
- Plain text: https://secwatch.observer/filing/0001140361-24-025477.txt

## Key facts
- Earnings Releases
  TANDY LEATHER FACTORY INC reported first fiscal quarter of 2024 results: revenue $19.3 million, net income $0.5 million, EPS $0.06 per share.
  - Period: first fiscal quarter of 2024
  - Revenue: $19.3 million
  - Net income: $0.5 million
  - EPS: $0.06 per share
  - Result: reported results
  source text: Highlights from First Quarter 2024: • Revenues were $19.3 million, down 5.3% from 2023 • Generated operating income of $0.7 million • Net income of $0.5 million, down from $0.7 million in 2023 • Gross margins of 56.7%, down from 58.1% in 2023 • Operating expenses $10.3 million, down 5.2% from 2023 • Adjusted EBITDA* of $1.1 million • Ended quarter with $12.3 million of cash and cash equivalents Tandy Leather Factory’s first quarter sales were $19.3 million in 2024, down from $20.4 million in 2023. First quarter 2024 gross profit was $10.9 million, down from $11.8 million in 2023. First quarter operating income was $0.7 million, down from $1.0 million in 2023. As of March 31, 2024, the Company held $12.3 million of cash and cash equivalents, up from $8.6 million a year earlier. The Company held inventory of $36.7 million, down from $38.0 million as of December 31, 2023. The Company had basic and diluted net income in the quarter of $0.06 per share, versus $0.08 in the prior year.
  evidence_url: https://www.sec.gov/Archives/edgar/data/909724/000114036124025477/0001140361-24-025477-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.