Dixie Group Q1 net sales down 14% YoY to $67.1M; operating income turns positive $306K vs loss of $2.2M

DIXIE GROUP INC

2023-Q1 EPS reported -$0.12 revenue$67,084,000

Net sales $67.1M, down 14% from $77.6M; net loss from continuing ops narrowed to $1.55M ($0.11/diluted) from $3.34M ($0.22).
Gross margin expanded to 26.6% from 19.6% on lower raw material costs and plant consolidations; included $1.05M facility consolidation expenses.
CEO cites mass merchant (Lowe's) channel volume decline as key sales drag; excluding mass merchant, sales down 7%.
Interest expense rose to $1.9M from $1.1M on higher borrowings and rates; debt increased $4.7M; line of credit availability $13.5M.
Early Q2 order entry up 14% vs Q1 levels; FY 2023 capex planned at $3.0M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

DIXIE GROUP INC reported first quarter ended April 01, 2023 results: revenue $67,084,000, net income $1,551,000 or $0.11 per diluted share, EPS $0.11 per diluted share.

Period: first quarter ended April 01, 2023
Revenue: $67,084,000
Net income: $1,551,000 or $0.11 per diluted share
EPS: $0.11 per diluted share
Result: reported results

Exact text from the filing

For the first quarter of 2023, the Company had net sales of $67,084,000 as compared to $77,575,000 in the same quarter of 2022. Operating income was $306,000 compared to a loss of $2,247,000 in the first quarter of 2022. The operating income in 2023 included expenses totaling $1,050,000 related to facility consolidations. The net loss from continuing operations in the first quarter of 2023 was $1,551,000 or $0.11 per diluted share.

View on SEC.gov

Browse all earnings releases →

DIXIE GROUP INC filing history →

Source: SEC EDGAR

accession 0001628280-23-015489

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.