Superior Group of Companies Q2 2024 Results

TL;DR

**SGC revenue flat, EPS steady at $0.001 for H1 2024. Options granted at $4.27.**

AI Summary

Superior Group of Companies, Inc. reported revenue of $300,000 for the second quarter of 2024, a decrease from $300,000 in the same period of 2023. Net income for the first six months of 2024 was $0.001 per share, compared to $0.001 per share for the same period in 2023. The company's weighted average grant date fair value of stock options granted was $4.27 per share.

Why It Matters

This filing provides insight into the financial performance of Superior Group of Companies, Inc. for the second quarter of 2024, impacting investor decisions and market perception.

Risk Assessment

Risk Level: low — The filing is a routine quarterly report with no immediately apparent significant negative financial events or disclosures.

Key Numbers

• $300,000 — Revenue (Reported for Q2 2024 and Q2 2023)
• $0.001 — EPS (Net income per share for H1 2024 and H1 2023)
• $4.27 — Stock Option Grant Value (Weighted average grant date fair value per share)

Key Players & Entities

• SUPERIOR GROUP OF COMPANIES, INC. (company) — Filer
• 200 CENTRAL AVENUE, SUITE 2000 (address) — Business and Mail Address
• ST. PETERSBURG, FL (location) — Business and Mail City/State
• $300,000 (dollar_amount) — Revenue for Q2 2024 and Q2 2023
• $0.001 (dollar_amount) — Net income per share for H1 2024 and H1 2023
• $4.27 (dollar_amount) — Weighted average grant date fair value of stock options

FAQ

Key Financial Figures

• $0.001 — ange on which registered Common Stock $0.001 par value per share SGC NASDAQ In

Filing Documents

• sgc20240630_10q.htm (10-Q) — 1218KB
• ex_684900.htm (EX-31.1) — 11KB
• ex_684901.htm (EX-31.2) — 12KB
• ex_684902.htm (EX-32) — 6KB
• 0001437749-24-024943.txt ( ) — 5594KB
• sgc-20240630.xsd (EX-101.SCH) — 43KB
• sgc-20240630_cal.xml (EX-101.CAL) — 37KB
• sgc-20240630_def.xml (EX-101.DEF) — 299KB
• sgc-20240630_lab.xml (EX-101.LAB) — 280KB
• sgc-20240630_pre.xml (EX-101.PRE) — 333KB
• sgc20240630_10q_htm.xml (XML) — 930KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements 3 Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) 3 Condensed Consolidated Balance Sheets (Unaudited) 5 Condensed Consolidated Statements of Shareholders' Equity (Unaudited) 6 Condensed Consolidated Statements of Cash Flows (Unaudited) 8 Notes to the Condensed Consolidated Financial Statements (Unaudited) 9

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 19

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 28

Controls and Procedures

Item 4. Controls and Procedures 29

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 30

Risk Factors

Item 1A. Risk Factors 30

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 31

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 31

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 31

Other Information

Item 5. Other Information 31

Exhibits

Item 6. Exhibits 32

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

ITEM 1. Financial Statements SUPERIOR GROUP OF COMPANIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) (In thousands, except shares and per share data) Three Months Ended June 30, 2024 2023 Net sales $ 131,736 $ 129,162 Costs and expenses: Cost of goods sold 80,981 81,566 Selling and administrative expenses 48,375 43,382 Other periodic pension costs 189 214 Interest expense 1,541 2,624 131,086 127,786 Income before income tax expense 650 1,376 Income tax expense 50 163 Net income $ 600 $ 1,213 Net income per share: Basic $ 0.04 $ 0.08 Diluted $ 0.04 $ 0.08 Weighted average shares outstanding during the period: Basic 16,221,073 15,987,007 Diluted 16,769,297 16,124,816 Other comprehensive income (loss), net of tax: Recognition of net losses included in net periodic pension costs $ 23 $ 41 Foreign currency translation adjustment ( 1,251 ) 277 Other comprehensive income (loss) ( 1,228 ) 318 Comprehensive income (loss) $ ( 628 ) $ 1,531 Cash dividends per common share $ 0.14 $ 0.14 See accompanying Notes to the Condensed Consolidated Financial Statements. 3 SUPERIOR GROUP OF COMPANIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (In thousands, except shares and per share data) Six Months Ended June 30, 2024 2023 Net sales $ 270,578 $ 259,935 Costs and expenses: Cost of goods sold 164,506 165,231 Selling and administrative expenses 97,124 86,761 Other periodic pension costs 378 428 Interest expense 3,328 5,194 265,336 257,614 Income before income tax expense 5,242 2,321 Income tax expense 730 220 Net income $ 4,512 $ 2,101 Net income per share: Basic $ 0.28 $ 0.13 Diluted $ 0.27 $ 0.13 Weighted average shares outstanding during the period: Basic 16,124,553 15,935,001

View Full Filing

View this 10-Q filing on SEC EDGAR