National Presto Q1 net sales down 4.7%, EPS $0.92 vs $1.25; operating earnings fall across segments

NATIONAL PRESTO INDUSTRIES INC

Net sales $76.7M, down from $80.4M YoY; net earnings $6.6M, down 26%; EPS $0.92 vs $1.25.
Housewares/Small Appliance sales up 1% but operating earnings down 66.6% on mix shift and maintenance repairs.
Defense segment sales down 6.5% ($3.8M); operating earnings down 21% on lower volume and unfavorable mix.
Safety segment reported a loss as anticipated, hurt by absence of Rusoh fire extinguisher sales after sale in Q4 2023.
New products launched: 17-quart digital canner, two flip waffle makers, nesting poppers, and Packers-themed tailgate line.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

NATIONAL PRESTO INDUSTRIES INC reported first quarter 2024 results: revenue $ 76,653,000, net income $ 6,568,000, EPS $ .92.

Period: first quarter 2024
Revenue: $ 76,653,000
Net income: $ 6,568,000
EPS: $ .92
Result: reported results

Exact text from the filing

Net Sales $ 76,653,000 $ 80,409,000 Net Earnings $ 6,568,000 $ 8,878,000 Net Earnings Per Share $ .92 $ 1.25

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Source: SEC EDGAR

accession 0001437749-24-013994

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