earnings
confidence high
sentiment negative
materiality 0.60
National Presto Q2 EPS $1.32 (-26.6% YoY); sales flat; Housewares segment sees operating loss
NATIONAL PRESTO INDUSTRIES INC
- Net earnings $9.3M ($1.32/sh) vs $12.7M ($1.80) in prior year; six-month EPS $2.59 down from $2.97.
- Net sales flat at $87.1M; Housewares/Small Appliance sales down 10.9% ($2.8M) on supply chain issues.
- Operating loss at Housewares/Small Appliance from higher commodity costs and ocean freight rate hikes.
- Defense segment shipments improved from backlog; operating profit down 1% on unfavorable mix.
- Startups Rusoh and OneEvent operated at a loss; portfolio earnings fell due to Fed rate cut to 0-0.25%.