SGC Q2 net loss $26.7M on $147.9M revenue; $30.1M impairment charges

SUPERIOR GROUP OF COMPANIES, INC.

2022-Q2 EPS reported -$1.37 revenue$291,515,000

Net sales $147.9M (+13% YoY); net loss ($26.7M) or ($1.70)/diluted vs income $6.4M ($0.40).
Non-cash impairment charges: $24.5M goodwill, $5.6M tradenames ($30.1M pre-tax).
Adjusted net income $1.3M ($0.08/diluted); Healthcare Apparel sales fell to $26M from $37M.
Branded Products +29%, Contact Centers +37%; company targeting $8M annualized cost savings.
Leadership: Catherine Beldotti Donlan (Healthcare Apparel), Mike Koempel (CFO); three-segment realignment.

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