COMPX INTERNATIONAL INC Files 10-Q for Q2 2024

TL;DR

COMPX INT'L 10-Q filed. Financials for Q2 2024 out.

AI Summary

COMPX INTERNATIONAL INC filed its 10-Q for the period ending June 30, 2024. The company, headquartered in Dallas, TX, operates in the cutlery, handtools & general hardware sector. Key financial data points such as retained earnings and additional paid-in capital are reported for various periods, including June 30, 2024, March 31, 2024, December 31, 2023, and June 30, 2023.

Why It Matters

This filing provides investors with a quarterly update on COMPX INTERNATIONAL INC's financial health and performance, crucial for investment decisions.

Risk Assessment

Risk Level: low — This filing is a standard quarterly report and does not indicate any immediate or unusual risks.

Key Numbers

• 12316000 — Total Assets (approx) (As of December 31, 2023)
• 12309000 — Total Assets (approx) (As of December 31, 2022)
• 12315000 — Total Assets (approx) (As of June 30, 2024)

Key Players & Entities

• COMPX INTERNATIONAL INC (company) — Filer of the 10-Q
• 2024-06-30 (date) — End of reporting period
• Dallas, TX (location) — Company headquarters
• CUTLERY, HANDTOOLS & GENERAL HARDWARE (industry) — Company's Standard Industrial Classification

FAQ

Key Financial Figures

• $5.1 million — ncome in the second quarter of 2024 was $5.1 million compared to $4.4 million in the second
• $4.4 million — er of 2024 was $5.1 million compared to $4.4 million in the second quarter of 2023. The incr
• $8.8 million — me for the first six months of 2024 was $8.8 million compared to $11.4 million in the first
• $11.4 million — hs of 2024 was $8.8 million compared to $11.4 million in the first six months of 2023. The de

Filing Documents

• cix-20240630x10q.htm (10-Q) — 1111KB
• cix-20240630xex31d1.htm (EX-31.1) — 13KB
• cix-20240630xex31d2.htm (EX-31.2) — 15KB
• cix-20240630xex32d1.htm (EX-32.1) — 10KB
• 0001558370-24-011092.txt ( ) — 4159KB
• cix-20240630.xsd (EX-101.SCH) — 25KB
• cix-20240630_cal.xml (EX-101.CAL) — 43KB
• cix-20240630_def.xml (EX-101.DEF) — 101KB
• cix-20240630_lab.xml (EX-101.LAB) — 254KB
• cix-20240630_pre.xml (EX-101.PRE) — 175KB
• cix-20240630x10q_htm.xml (XML) — 648KB

Financial Statements

Financial Statements Condensed Consolidated Balance Sheets – December 31, 2023 and June 30, 2024 (unaudited) - 3 - Condensed Consolidated Statements of Income and Comprehensive Income (unaudited) – Three and six months ended June 30, 2023 and 2024 - 4 - Condensed Consolidated Statements of Stockholders' Equity (unaudited) – Three and six months ended June 30, 2023 and 2024 - 5 - Condensed Consolidated Statements of Cash Flows (unaudited) –Six months ended June 30, 2023 and 2024 - 6 - Notes to Condensed Consolidated Financial Statements (unaudited) - 7 - Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations - 12 - Item 3. Quantitative and Qualitative Disclosure About Market Risk - 18 - Item 4.

Controls and Procedures

Controls and Procedures - 18 - Part II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings - 20 - Item 1A.

Risk Factors

Risk Factors - 20 - Item 6. Exhibits - 20 - Items 2, 3, 4 and 5 of Part II are omitted because there is no information to report. - 2 - Table of Contents COMPX INTERNATIONAL INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) December 31, June 30, ASSETS 2023 2024 (unaudited) Current assets: Cash and cash equivalents $ 41,393 $ 70,172 Marketable securities 35,354 11,934 Accounts receivable, net 17,061 15,435 Inventories, net 30,712 27,363 Prepaid expenses and other 2,110 1,768 Total current assets 126,630 126,672 Other assets: Note receivable from affiliate 10,600 9,200 Goodwill 23,742 23,742 Other noncurrent assets 769 723 Total other assets 35,111 33,665 Property and equipment: Land 5,390 5,390 Buildings 23,239 23,262 Equipment 74,315 74,651 Construction in progress 676 770 103,620 104,073 Less accumulated depreciation 77,757 79,336 Net property and equipment 25,863 24,737 Total assets $ 187,604 $ 185,074 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable and accrued liabilities $ 15,745 $ 13,164 Income taxes payable to affiliate 1,460 560 Total current liabilities 17,205 13,724 Noncurrent liabilities: Deferred income taxes 1,509 1,141 Other 41 26 Total noncurrent liabilities 1,550 1,167 Stockholders' equity: Preferred stock — — Class A common stock 123 123 Additional paid-in capital 53,275 53,396 Retained earnings 115,457 116,665 Accumulated other comprehensive loss - unrealized loss on marketable securities ( 6 ) ( 1 ) Total stockholders' equity 168,849 170,183 Total liabilities and stockholders' equity $ 187,604 $ 185,074 Commitments and contingencies (Note 8) See accompanying Notes to Condensed Consolidated Financial Statements. - 3 - Table of Contents COMPX INTERNATIONAL INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND C

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Business Overview We are a leading manufacturer of engineered components utilized in a variety of applications and industries. Through our Security Products segment we manufacture mechanical and electrical cabinet locks and other locking mechanisms used in postal, recreational transportation, office and institutional furniture, cabinetry, tool storage and healthcare applications. We also manufacture wake enhancement systems, stainless steel exhaust systems, gauges, throttle controls, trim tabs and related hardware and accessories for the recreational marine and other industries through our Marine Components segment. General This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Statements in this Quarterly Report that are not historical facts are forward-looking in nature and represent management's beliefs and assumptions based on currently available information. In some cases, you can identify forward-looking statements by the use of words such as "believes," "intends," "may," "should," "could," "anticipates," "expects" or comparable terminology, or by discussions of strategies or trends. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we do not know if these expectations will be correct. Such statements by their nature involve substantial risks and uncertainties that could significantly impact expected results. Actual future results could differ materially from those predicted. The factors that could cause actual future results to differ materially from those described herein are the risks and uncertainties discussed in this Quarterly Report and those described from time to time in our other filings with the SEC and include, but are not limited to, the following: Future demand for our products, Changes in our raw mate

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View this 10-Q filing on SEC EDGAR