Stran posts record FY2023 sales of $75.9M, achieves profitability

Stran & Company, Inc.

Sales $75.9M (+28.7% YoY); gross profit up 50.2% to $24.9M; gross margin 32.8% vs 28.1%.
Net earnings $35K vs net loss $778K in 2022; Q4 net earnings $0.8M on record Q4 sales of $23.3M.
Organic sales growth 16.6% to $61.2M; acquisitions contributed ~$14.7M (19.4% of sales).
Q4 operating income up 156% to $1.1M; cash and investments ~$18.5M at year-end 2023.
Fourth acquisition (T R Miller) closed in June 2023; continued M&A pipeline active.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

Stran & Company, Inc. reported the fourth fiscal quarter and fiscal year ended December 31, 2023 results: revenue approximately $75.9 million, net income approximately $35,000.

Period: the fourth fiscal quarter and fiscal year ended December 31, 2023
Revenue: approximately $75.9 million
Net income: approximately $35,000
Result: reported results

Exact text from the filing

the year ended December 31, 2023. Andy Shape, President and CEO of Stran, commented, “We made meaningful progress throughout 2023, resulting in record sales of approximately $75.9 million, a 28.7% increase over the prior year. Additionally, our gross profit increased 50.2% to approximately $24.9 million, with our gross margin increasing to 32.8% compared to 28.1%

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Source: SEC EDGAR

accession 0001213900-24-026867

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