---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-013128"
form_type: "8-K"
ticker: "ESCA"
cik: "0000033488"
company_name: "ESCALADE INC"
filed_at: "2023-05-09T23:59:59+00:00"
generated_at: "2026-06-15T10:39:43.891714+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Escalade posts Q1 loss of $0.07/diluted share; sales down 21.3%; amends credit agreement

## Summary
- Q1 net loss of $1.0M ($0.07 diluted loss) vs $0.49 diluted EPS in Q1 2022; net sales $56.9M down 21.3%.
- Gross margin fell 840 bps to 19.4% on higher-cost inventory, unfavorable mix and lower volumes.
- EBITDA declined 85.2% to $1.6M; net debt to trailing EBITDA at 3.8x, above target 1.5-2.5x.
- Credit agreement amended: leverage covenant eased, min EBITDA covenant $22.5M for Q2/Q3 2023; revolver reduced to $75M post Mexico sale.
- Expects $2.8M-$3.8M annual savings from Mexico divestiture and domestic workforce reduction.

## SEC filing metadata
- accession: 0001437749-23-013128
- form_type: 8-K
- ticker: ESCA
- cik: 0000033488
- company_name: ESCALADE INC
- filed_at: 2023-05-09T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 2.03, 2.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/33488/000143774923013128/0001437749-23-013128-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/33488/000143774923013128/esca20230507_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-013128
- JSON: https://secwatch.observer/filing/0001437749-23-013128.json
- Plain text: https://secwatch.observer/filing/0001437749-23-013128.txt

## Key facts
- Earnings Releases
  ESCALADE INC reported first quarter 2023 results: revenue $56.9 million, net income net loss of $1.0 million, EPS $0.07 loss per diluted share.
  - Period: first quarter 2023
  - Revenue: $56.9 million
  - Net income: net loss of $1.0 million
  - EPS: $0.07 loss per diluted share
  - Result: reported results
  source text: For the three months ended March 31, 2023, Escalade posted net sales of $56.9 million, net loss of $1.0 million and diluted loss per share of $0.07.
  evidence_url: https://www.sec.gov/Archives/edgar/data/33488/000143774923013128/0001437749-23-013128-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.