Rocky Brands Q2 sales up 23% to $162M; gross margin drops to 33.2%, adjusted EPS $0.34

ROCKY BRANDS, INC.

2022-Q2 EPS reported $1.12 revenue$329,063,000

Net sales $162.0M (+23.1% YoY); wholesale +29.7%, retail +16.4%, contract mfg fell to $4.9M.
GAAP net income $0.9M ($0.12 diluted EPS); adjusted net income $2.5M ($0.34 diluted EPS).
Gross margin 33.2% (37.4% prior year) due to higher product, freight, and logistics costs.
Management enacted price increases to offset margin headwinds; expects improvement in coming quarters.
Previously announced expense synergy savings expected to support long-term profitable growth.

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