Superior Group Q4 net income drops to $2.2M; adjusted net loss of $0.9M; guides 2023 sales $585-595M

SUPERIOR GROUP OF COMPANIES, INC.

Net sales $148.6M (+5% YoY); net income $2.2M ($0.14/diluted) vs $4.4M ($0.27) prior year.
Adjusted net loss ($0.9M) ($0.06/share) vs adjusted net income $5M ($0.31) in Q4 2021.
Includes $6M pre-tax non-cash inventory write-down in Healthcare Apparel segment.
Adjusted EBITDA $3.5M vs $8.1M in Q4 2021.
FY 2023 guidance: sales $585-595M; EPS $0.92-0.97 vs 2022 adjusted EPS $0.62.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SUPERIOR GROUP OF COMPANIES, INC. reported full year 2023 results: revenue $585 million to $595 million, EPS $0.92 to $0.97. Guidance initiated.

Period: full year 2023
Revenue: $585 million to $595 million
EPS: $0.92 to $0.97
Guidance: initiated
Result: guidance update

Exact text from the filing

The Company is forecasting full year 2023 sales to be $585 million to $595 million versus 2022 sales of $579 million. For the full year 2023, the Company is forecasting earnings per share to be $0.92 to $0.97, compared to $0.62 adjusted earnings per share in 2022.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SUPERIOR GROUP OF COMPANIES, INC. reported the fourth quarter ended December 31, 2022 results: revenue $148.6 million, net income $2.2 million, EPS $0.14 per diluted share.

Period: the fourth quarter ended December 31, 2022
Revenue: $148.6 million
Net income: $2.2 million
EPS: $0.14 per diluted share
Result: reported results

Exact text from the filing

For the fourth quarter, net sales increased 5% to $148.6 million compared to fourth quarter 2021 net sales of $142.0 million. Net income was $2.2 million or $0.14 per diluted share

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Source: SEC EDGAR

accession 0001437749-23-006706

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