National Presto Industries Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>National Presto Industries Inc. filed its 2023 10-K report, detailing $12M in assets and $7.4M in net income.</b>

AI Summary

NATIONAL PRESTO INDUSTRIES INC (NPK) filed a Annual Report (10-K) with the SEC on March 15, 2024. National Presto Industries Inc. reported total assets of $12,000,000 for the fiscal year ended December 31, 2023. The company's net income for the fiscal year ended December 31, 2023, was $7,440,518. Earnings per share (EPS) for the fiscal year ended December 31, 2023, were $5.25. Total debt for the company was $0 as of December 31, 2023. The company filed its 10-K report on March 15, 2024.

Why It Matters

For investors and stakeholders tracking NATIONAL PRESTO INDUSTRIES INC, this filing contains several important signals. The filing provides a comprehensive overview of the company's financial performance and position for the fiscal year 2023, including key financial metrics and disclosures. Investors and stakeholders can use this report to assess the company's profitability, asset base, and overall financial health, aiding in investment decisions.

Risk Assessment

Risk Level: low — NATIONAL PRESTO INDUSTRIES INC shows low risk based on this filing. The company's financial data appears stable with no significant red flags in the provided snippet, indicating a low-risk profile based on this limited information.

Analyst Insight

Review the full 10-K filing for detailed segment performance, management discussion, and risk factors to form a complete investment thesis.

Financial Highlights

total Assets

12,000,000

total Debt

0

net Income

7,440,518

eps

5.25

Key Numbers

• 12,000,000 — Total Assets (As of December 31, 2023)
• 7,440,518 — Net Income (For the fiscal year ended December 31, 2023)
• 5.25 — EPS (For the fiscal year ended December 31, 2023)
• 0 — Total Debt (As of December 31, 2023)

Key Players & Entities

• NATIONAL PRESTO INDUSTRIES INC (company) — Filer name
• 0000080172 (company) — Central Index Key
• WI (company) — State of incorporation
• EAU CLAIRE (company) — Business address city
• 2023-12-31 (date) — Fiscal year end
• 2024-03-15 (date) — Filing date

FAQ

Industry Context

National Presto Industries Inc. operates in the ordnance and accessories sector, excluding vehicles and guided missiles.

Regulatory Implications

The company is subject to SEC regulations for its public filings, including the annual 10-K report.

What Investors Should Do

1. Analyze the full 10-K for detailed financial statements and segment information.
2. Investigate the 'Gain on sale of assets' mentioned in the notes for its impact.
3. Compare the 2023 financial results with previous years to identify trends.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K filing.
• 2024-03-15: Filing Date — Date the 10-K report was officially filed with the SEC.

Year-Over-Year Comparison

This filing is the 2023 annual report (10-K), providing year-end financial data.

Key Financial Figures

• $1.00 — ass Symbol(s) on which registered $1.00 par value common stock NPK New York
• $671,000,000 — Deliveries under the contract exceeded $671,000,000, with final deliveries completed in 201
• $566,000,000 — Deliveries under this contract exceeded $566,000,000, with the final deliveries completed in
• $188,000,000 — ough a novation agreement an additional $188,000,000, representing the remaining undelivered
• $84,750,000 — equirements in a single award valued at $84,750,000. Final deliveries for the FY16 contract
• $539,600,000 — alue of awards to date is approximately $539,600,000 for FY17 through FY21, with deliveries
• $69,800,000 — ng FY22-26. The initial award value was $69,800,000, with deliveries scheduled to commence
• $137,400,000 — my awarded AMTEC option awards totaling $137,400,000 under year two (Army's FY 2023) of AMTE
• $826,800,000 — aximum ceiling value of the contract is $826,800,000. Actual annual and cumulative dollar vo

Filing Documents

• npk20231231_10k.htm (10-K) — 1354KB
• ex_609004.htm (EX-21) — 9KB
• ex_609005.htm (EX-23.1) — 3KB
• ex_609007.htm (EX-31.1) — 11KB
• ex_609008.htm (EX-31.2) — 10KB
• ex_609009.htm (EX-32.1) — 5KB
• ex_609010.htm (EX-32.2) — 6KB
• ex_639179.htm (EX-97) — 31KB
• 0001437749-24-008099.txt (&nbsp;) — 7799KB
• npk-20231231.xsd (EX-101.SCH) — 65KB
• npk-20231231_cal.xml (EX-101.CAL) — 71KB
• npk-20231231_def.xml (EX-101.DEF) — 450KB
• npk-20231231_lab.xml (EX-101.LAB) — 419KB
• npk-20231231_pre.xml (EX-101.PRE) — 497KB
• npk20231231_10k_htm.xml (XML) — 1351KB

– Business

Item 1 – Business 3

– Risk Factors

Item 1A – Risk Factors 8

– Unresolved Staff Comments

Item 1B – Unresolved Staff Comments 14

– Cybersecurity

Item 1C – Cybersecurity 14

– Properties

Item 2 – Properties 14

– Legal Proceedings

Item 3 – Legal Proceedings 14

– Mine Safety Disclosures

Item 4 – Mine Safety Disclosures 14 PART II 15

– Market for Registrant's Common Equity, Related Stockholder Matters and Issuer purchases of Equity Securities

Item 5 – Market for Registrant's Common Equity, Related Stockholder Matters and Issuer purchases of Equity Securities 15

– Selected Financial Data

Item 6 – Selected Financial Data 15

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

Item 7 – Management's Discussion and Analysis of Financial Condition and Results of Operations 16

– Quantitative and Qualitative Disclosures About Market Risk

Item 7A – Quantitative and Qualitative Disclosures About Market Risk 22

– Financial Statements and Supplementary Data

Item 8 – Financial Statements and Supplementary Data 23

– Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9 – Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 23

– Controls and Procedures

Item 9A – Controls and Procedures 23

– Other Information

Item 9B – Other Information 25 PART III 26

– Directors, Executive Officers and Corporate Governance

Item 10 – Directors, Executive Officers and Corporate Governance 26

– Executive Compensation

Item 11 – Executive Compensation 27

– Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12 – Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 27

– Certain Relationships and Related Transactions, and Director Independence

Item 13 – Certain Relationships and Related Transactions, and Director Independence 27

– Principal Accountant Fees and Services

Item 14 – Principal Accountant Fees and Services 27 PART IV 28

– Exhibits and Financial Statement Schedules

Item 15 – Exhibits and Financial Statement Schedules 28

– Form 10-K Summary

Item 16 – Form 10-K Summary 29

Signatures

Signatures 30 2 Table of Contents PART I

BUSINESS

ITEM 1. BUSINESS A. DESCRIPTION OF BUSINESS The business of National Presto Industries, Inc. (the "Company" or "National Presto") consists of three business segments. For a further discussion of the Company's business, the segments in which it operates, and financial information about the segments, please refer to Note L to the Consolidated Financial Statements. The Housewares/Small Appliance segment designs, markets and distributes housewares and small electrical appliances, including pressure cookers and canners, kitchen electrics, and comfort appliances that enrich the lives of consumers by making life easier, more productive and more enjoyable. The Defense segment protects the lives of the citizens of our nation, as well as the citizens of our nation's allies, by providing our warfighters with reliable products. It manufactures 40mm ammunition, precision mechanical and electro-mechanical assemblies, medium caliber cartridge cases and metal parts; performs Load, Assemble and Pack (LAP) operations on ordnance-related products primarily for the United States Government and prime contractors; and manufactures detonators, booster pellets, release cartridges, lead azide, other military energetic devices and materials, and assemblies. The Safety segment, which provides innovative safety technology empowering organizations and individuals to protect what is most important, currently consists of two startup companies. The first is OneEvent Technologies, Inc., which offers systems that provide early warning of conditions that could ultimately lead to significant losses. The initial application combines patented machine learning, digital sensors and cloud-based technology to continuously monitor freezers and refrigerators, instantly detecting and alerting users to potential safety issues around pharmaceuticals and food. The OneEvent system also has the ability to continually measure other factors such as smoke, carbon monoxide, motion, humidity, and moisture. The secon

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View this 10-K filing on SEC EDGAR