earnings
confidence high
sentiment neutral
materiality 0.70
Rocky Brands Q1 net sales up 90.5% to $167M; net income $0.99 EPS
ROCKY BRANDS, INC.
2022-Q1 EPS reported
$0.99
revenue$167,025,000
- Net sales $167.0M, up 90.5% YoY; wholesale +126.2%, retail +19.3%, contract manufacturing flat.
- GAAP net income $7.3M ($0.99 diluted EPS); adjusted net income $8.2M ($1.10 EPS).
- Gross margin 37.6% vs 40.1% last year due to higher inbound freight and delayed price increases.
- Acquired Boston Group brands contributed $64M vs $6.5M in Q1 2021.
- CEO expects improved margins and lower inventories as new distribution facility ramps up.