Superior Group Q2 net sales down 12.7% to $129.2M; net income $1.2M vs loss $26.7M YoY; declares $0.14 dividend

SUPERIOR GROUP OF COMPANIES, INC.

2023-Q2 EPS reported $0.13 revenue$259,935,000

Net sales $129.2M, down 12.7% YoY; net income $0.08 per diluted share vs loss $1.70 in prior year.
Adjusted EBITDA $7.4M vs $4.8M YoY; adjusted EPS $0.08 flat YoY (excluding $28M impairment charges).
Board declares quarterly dividend of $0.14/share, payable Sept 8 to holders of record Aug 25.
FY2023 guidance: sales $550-560M (vs $579M in 2022), EPS $0.45-0.55 (vs adjusted $0.62 in 2022).
CEO cites commitment to free cash flow, debt reduction; expects stronger H2 results.

item 2.02 item 9.0

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

SUPERIOR GROUP OF COMPANIES, INC. reported full-year 2023 results: revenue $550 million to $560 million, EPS $0.45 to $0.55.

Period: full-year 2023
Revenue: $550 million to $560 million
EPS: $0.45 to $0.55
Result: guidance update

Exact text from the filing

For full-year 2023, the Company is updating its Outlook to include a sales forecast of $550 million to $560 million compared to $579 million in 2022, and an earnings per share forecast of $0.45 to $0.55 compared to $0.62 of adjusted earnings per share in 2022.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

SUPERIOR GROUP OF COMPANIES, INC. reported second quarter ended June 30, 2023 results: revenue $129.2 million, net income $1.2 million, EPS $0.08 per diluted share. Guidance reaffirmed.

Period: second quarter ended June 30, 2023
Revenue: $129.2 million
Net income: $1.2 million
EPS: $0.08 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

--- EX-99.1 2 ex_524146.htm EXHIBIT 99.1 ex_524146.htm Exhibit 99.1 FOR IMMEDIATE RELEASE SUPERIOR GROUP OF COMPANIES REPORTS SECOND QUARTER 2023 RESULTS – Total Net Sales of $129.2 Million versus $147.9 million in Prior Year Second Quarter – – Net Income of $1.2 Million versus ($26.7) Million in Prior Year Second Quarter, which included non-cash after-tax charges

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Source: SEC EDGAR

accession 0001437749-23-022329

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