National Presto Industries Inc. Q2 2024 10-Q Filing
Ticker: NPK · Form: 10-Q · Filed: Aug 9, 2024 · CIK: 80172
Sentiment: neutral
Topics: 10-Q, financials, assets, liabilities
TL;DR
NPK Q2 10-Q: Assets $12M, Liabilities $7.4M. Steady as she goes.
AI Summary
National Presto Industries Inc. filed its 10-Q for the period ending June 30, 2024. The company reported total assets of $12,000,000 and total liabilities of $7,440,518 for the six months ended June 30, 2024. This filing provides an update on the company's financial position and operational performance.
Why It Matters
This filing provides investors with a quarterly update on National Presto Industries Inc.'s financial health, including its assets and liabilities, which are crucial for assessing the company's stability and performance.
Risk Assessment
Risk Level: low — The filing is a routine quarterly report with no immediately apparent significant negative events or trends.
Key Numbers
- $12.0M — Total Assets (As of June 30, 2024)
- $7.4M — Total Liabilities (As of June 30, 2024)
Key Players & Entities
- NATIONAL PRESTO INDUSTRIES INC (company) — Filer
- 20240630 (date) — Reporting Period End Date
- $12,000,000 (dollar_amount) — Total Assets
- $7,440,518 (dollar_amount) — Total Liabilities
FAQ
What was the total revenue for the six months ended June 30, 2024?
The provided text does not explicitly state the total revenue for the six months ended June 30, 2024.
What is the company's net income for the second quarter of 2024?
The provided text does not contain information about the company's net income for the second quarter of 2024.
What were the significant changes in liabilities compared to the previous fiscal year?
The filing does not detail specific changes in liabilities compared to the previous fiscal year in the provided snippet.
Does the company mention any new product launches or significant business developments in this filing?
The provided text does not mention any new product launches or significant business developments.
What is the company's cash and cash equivalents balance as of June 30, 2024?
The provided text does not specify the cash and cash equivalents balance as of June 30, 2024.
Filing Stats: 4,525 words · 18 min read · ~15 pages · Grade level 18.2 · Accepted 2024-08-09 16:06:20
Key Financial Figures
- $1 — ange on which registered Common Stock, $1 par value NPK NYSE Indicate by ch
Filing Documents
- npk20240630_10q.htm (10-Q) — 713KB
- ex_684166.htm (EX-31.1) — 10KB
- ex_684167.htm (EX-31.2) — 11KB
- ex_684168.htm (EX-32.1) — 5KB
- ex_684169.htm (EX-32.2) — 5KB
- 0001437749-24-025857.txt ( ) — 3415KB
- npk-20240630.xsd (EX-101.SCH) — 26KB
- npk-20240630_cal.xml (EX-101.CAL) — 35KB
- npk-20240630_def.xml (EX-101.DEF) — 175KB
- npk-20240630_lab.xml (EX-101.LAB) — 169KB
- npk-20240630_pre.xml (EX-101.PRE) — 199KB
- npk20240630_10q_htm.xml (XML) — 489KB
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION 3
– Financial Statements
Item 1 – Financial Statements 3 Condensed Consolidated Balance Sheets 3 Consolidated Statements of Comprehensive Income 5 Consolidated Statements of Cash Flows 6 Consolidated Statements of Stockholders' Equity 7 Notes to Condensed Consolidated Financial Statements 8
– Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2 – Management's Discussion and Analysis of Financial Condition and Results of Operations 13
– Quantitative and Qualitative Disclosures About Market Risk
Item 3 – Quantitative and Qualitative Disclosures About Market Risk 14
– Controls and Procedures
Item 4 – Controls and Procedures 15
– OTHER INFORMATION
PART II – OTHER INFORMATION 16
– Legal Proceedings
Item 1 – Legal Proceedings 16
– Other Information
Item 5 – Other Information 16
– Exhibits
Item 6 – Exhibits 16
SIGNATURES
SIGNATURES 17 CERTIFICATIONS 19 2 Table of Contents
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS NATIONAL PRESTO INDUSTRIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS June 30, 2024 and December 31, 2023 (Dollars in thousands) June 30, 2024 (Unaudited) December 31, 2023 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 32,571 $ 87,657 Marketable securities 20,870 26,454 Accounts receivable, net 51,999 48,727 Inventories: Finished goods $ 30,613 $ 31,815 Work in process 180,483 144,684 Raw materials 16,980 228,076 13,921 190,420 Notes receivable, current 1,414 1,629 Other current assets 4,683 5,223 Total current assets 339,613 360,110 PROPERTY, PLANT AND EQUIPMENT $ 108,054 $ 107,010 Less allowance for depreciation 69,702 38,352 67,774 39,236 GOODWILL 19,433 19,433 INTANGIBLE ASSETS, net 4,534 5,290 RIGHT-OF-USE LEASE ASSETS 10,360 10,664 DEFERRED INCOME TAXES 5,805 5,803 $ 418,097 $ 440,536 The accompanying notes are an integral part of the condensed consolidated financial statements. 3 Table of Contents NATIONAL PRESTO INDUSTRIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS June 30, 2024 and December 31, 2023 (Dollars in thousands) June 30, 2024 (Unaudited) December 31, 2023 LIABILITIES AND STOCKHOLDERS' EQUITY LIABILITIES CURRENT LIABILITIES: Accounts payable $ 33,184 $ 38,232 Federal and state income taxes 738 2,539 Lease liabilities 669 678 Accrued liabilities 33,455 30,570 Total current liabilities 68,046 72,019 LEASE LIABILITIES - NON-CURRENT 9,691 9,986 FEDERAL AND STATE INCOME TAXES - NON-CURRENT 2,275 2,275 Total liabilities 80,012 84,280 COMMITMENTS AND CONTINGENCIES STOCKHOLDERS' EQUITY Common stock, $ 1 par value: Authorized: 12,000,000 shares Issued: 7,440,518 shares $ 7,441 $ 7,441 Paid-in capital 16,755 16,031 Retained earnings 324,861 344,245 Accumulated other comprehensive income 14 22 349,071 367,739 Treasury stock