COMPX INTERNATIONAL INC Files Q3 2024 10-Q

TL;DR

COMPX INT'L filed its Q3 10-Q. Financials look stable, check details for deeper dive.

AI Summary

COMPX INTERNATIONAL INC filed its 10-Q for the period ending September 30, 2024. The filing details the company's financial performance and position, including balance sheet items like retained earnings and additional paid-in capital for various periods. Specific dollar amounts and dates are presented within the financial statements.

Why It Matters

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

Risk Assessment

Risk Level: low — This is a routine quarterly filing (10-Q) that provides standard financial disclosures without immediate red flags.

Key Numbers

• 2024-09-30 — End of Reporting Period (Indicates the specific date for which financial data is reported.)
• 2024-11-06 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• COMPX INTERNATIONAL INC (company) — Filer of the 10-Q
• 2024-09-30 (date) — End of the reporting period
• 2024-11-06 (date) — Filing date

FAQ

Key Financial Figures

• $3.3 million — income in the third quarter of 2024 was $3.3 million compared to $6.6 million in the third q
• $6.6 million — er of 2024 was $3.3 million compared to $6.6 million in the third quarter of 2023. The decre
• $12.1 million — e for the first nine months of 2024 was $12.1 million compared to $18.0 million in the first
• $18.0 million — s of 2024 was $12.1 million compared to $18.0 million in the first nine months of 2023. The d
• $6.7 million — 3 % Net sales . Net sales decreased $6.7 million in the third quarter of 2024 compared t
• $10.6 million — the towboat market. Net sales decreased $10.6 million for the first nine months of 2024 - 1

Filing Documents

• cix-20240930x10q.htm (10-Q) — 1103KB
• cix-20240930xex31d1.htm (EX-31.1) — 13KB
• cix-20240930xex31d2.htm (EX-31.2) — 15KB
• cix-20240930xex32d1.htm (EX-32.1) — 10KB
• 0001558370-24-014631.txt ( ) — 4143KB
• cix-20240930.xsd (EX-101.SCH) — 25KB
• cix-20240930_cal.xml (EX-101.CAL) — 41KB
• cix-20240930_def.xml (EX-101.DEF) — 100KB
• cix-20240930_lab.xml (EX-101.LAB) — 247KB
• cix-20240930_pre.xml (EX-101.PRE) — 172KB
• cix-20240930x10q_htm.xml (XML) — 645KB

Financial Statements

Financial Statements Condensed Consolidated Balance Sheets – December 31, 2023 and September 30, 2024 (unaudited) - 3 - Condensed Consolidated Statements of Income and Comprehensive Income (unaudited) – Three and nine months ended September 30, 2023 and 2024 - 4 - Condensed Consolidated Statements of Stockholders' Equity (unaudited) – Three and nine months ended September 30, 2023 and 2024 - 5 - Condensed Consolidated Statements of Cash Flows (unaudited) – Nine months ended September 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, September 30, ASSETS 2023 2024 (unaudited) Current assets: Cash and cash equivalents $ 41,393 $ 58,788 Marketable securities 35,354 — Accounts receivable, net 17,061 14,458 Inventories, net 30,712 28,008 Prepaid expenses and other 2,110 2,245 Total current assets 126,630 103,499 Other assets: Note receivable from affiliate 10,600 7,900 Goodwill 23,742 23,742 Other noncurrent assets 769 704 Total other assets 35,111 32,346 Property and equipment: Land 5,390 5,390 Buildings 23,239 23,262 Equipment 74,315 75,334 Construction in progress 676 527 103,620 104,513 Less accumulated depreciation 77,757 80,252 Net property and equipment 25,863 24,261 Total assets $ 187,604 $ 160,106 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable and accrued liabilities $ 15,745 $ 13,074 Income taxes payable to affiliate 1,460 694 Total current liabilities 17,205 13,768 Noncurrent liabilities: Deferred income taxes 1,509 972 Other 41 36 Total noncurrent liabilities 1,550 1,008 Stockholders' equity: Preferred stock — — Class A common stock 123 123 Additional paid-in capital 53,275 53,396 Retained earnings 115,457 91,811 Accumulated other comprehensive loss - unrealized loss on marketable securities ( 6 ) — Total stockholders' equity 168,849 145,330 Total liabilities and stockholders' equity $ 187,604 $ 160,106 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 COMPREHE

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

View Full Filing

View this 10-Q filing on SEC EDGAR