Acme United Q1 2023 sales up 6% to $45.8M; diluted EPS $0.28 (+27% YoY)

ACME UNITED CORP

2023-Q1 EPS reported $0.28 revenue$45,838,000

Net income $990K vs $830K (+19%); operating income +60% on higher sales and gross margin.
Gross margin improved to 35.5% from 34.5% on productivity initiatives.
US segment sales +9%; Europe -2% local currency; Canada -5% local currency on retailer destocking.
Bank debt $48.4M vs $46.2M; inventory reduced $5.0M from Dec 2022, generated ~$11M free cash flow.
Company on track for $5M annual productivity savings in 2023.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ACME UNITED CORP reported the quarter ended March 31, 2023 results: revenue $45.8 million, net income $990,000, EPS $0.28 per diluted share.

Period: the quarter ended March 31, 2023
Revenue: $45.8 million
Net income: $990,000
EPS: $0.28 per diluted share
Result: reported results

Exact text from the filing

today announced that net sales for the quarter ended March 31, 2023 were $45.8 million compared to $43.3 million for the quarter ended March 31, 2022, an increase of 6%. Net income was $990,000, or $0.28 per diluted share, for the quarter ended March 31, 2023

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Source: SEC EDGAR

accession 0001564590-23-006014

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