Rocky Brands Q3 net sales down 8.8% to $114.6M; adj. EPS $0.77 vs $1.09 a year ago

ROCKY BRANDS, INC.

2024-Q3 EPS reported $0.88 revenue$325,718,000

Net sales $114.6M, down 8.8% YoY; ex non-recurring items decline was 2.4%.
Gross margin improved 110 bps to 38.1% on favorable retail mix.
Adjusted net income $5.8M ($0.77 diluted) vs $8.0M ($1.09) in Q3 2023.
Inventories fell 11.8% to $171.8M; total debt down 29.7% YoY after April refinancing.
Durango brand and Lehigh CustomFit posted double-digit sales gains, partially offsetting wholesale declines.

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