earnings
confidence high
sentiment negative
materiality 0.75
Acme United Q1 net income falls 59% to $0.22 EPS; supply chain disruptions cited
ACME UNITED CORP
2022-Q1 EPS reported
$0.22
revenue$43,333,000
- Net sales $43.3M vs $43.5M; net income $830k ($0.22 diluted EPS) down 59% from $2.05M ($0.52) YoY.
- Supply chain disruptions delayed ~$4.0M of orders; CEO expects to ship many in Q2 and targets >$200M revenue in 2022.
- Gross margin declined to 34.5% from 35.8% due to cost inflation, higher transportation and labor costs.
- Bank debt less cash $46.2M; inventory increased $11M to position for growth and supply chain risks.
- U.S. sales -1%, Europe -4% USD (+3% local), Canada +8%; First Aid Central e-commerce driving Canadian growth.