Escalade Q3 net income up 43% to $4.3M; gross margin expands 652 bps to 24.7%

ESCALADE INC

2023-Q3 EPS reported $0.50 revenue$198,060,000

Q3 net sales $73.4M, down 2.1% YoY; adjusted for calendar change, down 11.6%.
Q3 operating income $6.4M, up 52.7%; EBITDA $7.9M, up 35.7%.
Net income per diluted share $0.31 vs $0.22 in prior year.
Board declares $0.15 quarterly dividend, payable Jan 12, 2024 to holders of record Jan 5, 2024.
Cash from operations $14.8M vs use of $5.5M; net debt leverage 3.1x trailing EBITDA.

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 0.95

ESCALADE INC reported three quarters ended September 30, 2023 results: revenue $198.1 million, net income $7.0 million, EPS $0.50 per diluted share.

Period: three quarters ended September 30, 2023
Revenue: $198.1 million
Net income: $7.0 million
EPS: $0.50 per diluted share
Result: reported results

Exact text from the filing

of $14.8 million vs. cash used of $5.5 million THREE QUARTERS ENDED SEPTEMBER 30, 2023 (As compared to three quarters ended October 1, 2022) ● Net sales decreased 18.0% to $198.1 million ● Gross margin declined 70 basis points, to 23.1% ● Operating income decreased 40.0% to $12.9 million ● EBITDA totaled $17.1 million, a decrease of 35.9% ● Net income of $7.0

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ESCALADE INC reported third quarter ended September 30, 2023 results: revenue $73.4 million, net income $4.3 million, EPS $0.31 per diluted share.

Period: third quarter ended September 30, 2023
Revenue: $73.4 million
Net income: $4.3 million
EPS: $0.31 per diluted share
Result: reported results

Exact text from the filing

recreational equipment, today announced third quarter and year to date results for 2023. THIRD QUARTER 2023 (As compared to the third quarter 2022) ● Net sales decreased 2.1% to $73.4 million ● Gross margin improved 652 basis points, to 24.7% ● Operating income increased 52.7% to $6.4 million ● EBITDA totaled $7.9 million, an increase of 35.7% ● Net income of $4.3

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Source: SEC EDGAR

accession 0001437749-23-029013

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