Escalade Q2 net sales down 28.2%; net income drops to $0.26/share; dividend declared $0.15

ESCALADE INC

2023-Q2 EPS reported $0.20 revenue$124,702,000

Net sales $67.8M (-28.2% YoY); ex-calendar impact decline 9.5%. Operating income $6.3M (-23.6%).
Net income $3.6M ($0.26 diluted) vs $5.7M ($0.42); EBITDA $7.7M (-25.9%).
YTD net income $2.7M ($0.20) vs $12.3M ($0.91); gross margin down 410bps to 22.2%.
Cash from operations $8.4M (up $5.9M); net debt 4.0x trailing EBITDA; $42.4M revolver available.
Dividend $0.15/share declared, payable Sept 5 to holders Aug 29; focus on debt reduction.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ESCALADE INC reported the two quarters ended June 30, 2023 results: revenue $124.7 million, net income $2.7 million, EPS $0.20 per diluted share.

Period: the two quarters ended June 30, 2023
Revenue: $124.7 million
Net income: $2.7 million
EPS: $0.20 per diluted share
Result: reported results

Exact text from the filing

Net sales decreased 25.2% to $124.7 million ● Gross margin declined 410 basis points, to 22.2% ● Operating income decreased 62.8% to $6.4 million ● Net income of $2.7 million, or $0.20 per diluted share vs. $12.3 million, or $0.91 per diluted share for 2022 ● Cash provided by operations of $12.9 million vs. cash used of $0.3 million

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ESCALADE INC reported the second quarter ended June 30, 2023 results: revenue $67.8 million, net income $3.6 million, EPS $0.26 per diluted share.

Period: the second quarter ended June 30, 2023
Revenue: $67.8 million
Net income: $3.6 million
EPS: $0.26 per diluted share
Result: reported results

Exact text from the filing

● Net sales were $67.8 million, a decline of 28.2% ● Operating income was $6.3 million, 23.6% below 2022 ● EBITDA totaled $7.7 million, a decline of 25.9% ● Net income of $3.6 million, or $0.26 per diluted share, a decline of $2.0 million ● Cash provided by operations of $8.4 million, an increase of $5.9 million

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Source: SEC EDGAR

accession 0001437749-23-020770

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