Escalade Q1 net income $1.8M vs loss; gross margin up 560 bps; declares $0.15 dividend

ESCALADE INC

2024-Q1 EPS reported $0.13 revenue$57,304,000

Net sales $57.3M (+0.7% YoY); net income $1.8M ($0.13 EPS) vs net loss $1.0M ($0.07 loss) in Q1 2023.
Gross margin 25.0%, +560 bps YoY, driven by favorable product mix and lower inventory costs.
EBITDA $4.4M vs $1.6M; total debt $53.5M, down from $95.2M year ago; net debt/EBITDA 2.0x.
Board approved $0.15/share quarterly dividend payable July 15 to holders of record July 8.
Planned divestiture of Mexico operations to drive fixed-cost efficiencies; DTC website sales up 28%.

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 0.98

ESCALADE INC reported first quarter 2024 results: revenue $57.3 million, net income $1.8 million, EPS $0.13.

Period: first quarter 2024
Revenue: $57.3 million
Net income: $1.8 million
EPS: $0.13
Result: reported results

Exact text from the filing

indoor/outdoor recreational equipment, today announced results for the first quarter 2024. FIRST QUARTER 2024 HIGHLIGHTS (As compared to the first quarter 2023) ● Net sales were $57.3 million, an increase of 0.7% ● Operating income was $3.1 million compared to $0.1 million in 2023 ● EBITDA totaled $4.4 million, an increase of $2.8 million ● Net income of $1.8 million,

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Source: SEC EDGAR

accession 0001437749-24-013090

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