---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-029762"
form_type: "8-K"
ticker: "RCKY"
cik: "0000895456"
company_name: "ROCKY BRANDS, INC."
filed_at: "2023-11-01T23:59:59+00:00"
generated_at: "2026-06-09T03:48:24.763277+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Rocky Brands Q3 net income up 20% to $6.8M; adjusted EPS $1.09; debt down 24.9% YoY

## Summary
- Net sales $125.6M, down 14.8% YoY (adjusted -12.7%); wholesale -17.4%, retail +4.7%.
- Gross margin 37.0% (+180bps); operating income $14.3M (+22.8%); net income $6.8M ($0.93/diluted).
- Adjusted net income $8.0M ($1.09/diluted) vs $5.5M ($0.74) a year ago.
- Inventories down 26.5% to $194.7M; total debt down 24.9% to $213.9M.
- Entered amendments to ABL and Term Loan agreements for EBITDA adjustments, pricing grid, and leverage ratio changes through June 2025.

## SEC filing metadata
- accession: 0001437749-23-029762
- form_type: 8-K
- ticker: RCKY
- cik: 0000895456
- company_name: ROCKY BRANDS, INC.
- filed_at: 2023-11-01T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.03, 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/895456/000143774923029762/0001437749-23-029762-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/895456/000143774923029762/rcky20230816_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-029762
- JSON: https://secwatch.observer/filing/0001437749-23-029762.json
- Plain text: https://secwatch.observer/filing/0001437749-23-029762.txt

## Key facts
- Debt Financings
  ROCKY BRANDS, INC. amended term loan with TCW Asset Management Company LLC at adjust the performance pricing grid.
  - Instrument: term loan
  - Counterparty: TCW Asset Management Company LLC
  - Rate: adjust the performance pricing grid
  - Event: amendment
  source text: on October 31, 2023, the Company and TCW entered into a Sixth Amendment to the Term Loan Agreement ("Term Loan Amendment"), among other things, to provide certain EBITDA adjustments with respect to its financial covenants, adjust the performance pricing grid, and adjust the total leverage ratio periodically through June 30, 2025.
  evidence_url: https://www.sec.gov/Archives/edgar/data/895456/000143774923029762/0001437749-23-029762-index.htm
- Debt Financings
  ROCKY BRANDS, INC. amended credit facility with Bank of America, N.A. at adjust the performance pricing grid.
  - Instrument: credit facility
  - Counterparty: Bank of America, N.A.
  - Rate: adjust the performance pricing grid
  - Event: amendment
  source text: On October 31, 2023, the Company entered into a Fifth Amendment to the ABL Loan Agreement ("ABL Amendment") to provide certain EBITDA adjustments with respect to its financial covenant.
  evidence_url: https://www.sec.gov/Archives/edgar/data/895456/000143774923029762/0001437749-23-029762-index.htm
- Earnings Releases
  ROCKY BRANDS, INC. reported third quarter ended September 30, 2023 results: revenue $125.6 million, net income $6.8 million, EPS $0.93 per diluted share.
  - Period: third quarter ended September 30, 2023
  - Revenue: $125.6 million
  - Net income: $6.8 million
  - EPS: $0.93 per diluted share
  - Result: reported results
  source text: 1, 2023 – Rocky Brands, Inc. (NASDAQ: RCKY) today announced financial results for its third quarter ended September 30, 2023. Third Quarter 2023 Overview ● Net sales were $125.6 million, a decrease of 14.8% (or 12.7% on an adjusted basis) ● Wholesale segment sales decreased 17.4% (or 14.9% on an adjusted basis) ● Retail segment sales increased 4.7% ● Gross
  evidence_url: https://www.sec.gov/Archives/edgar/data/895456/000143774923029762/0001437749-23-029762-index.htm

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