Superior Group of Companies Q3 2024 Update
Ticker: SGC · Form: 10-Q · Filed: Nov 7, 2024 · CIK: 95574
| Field | Detail |
|---|---|
| Company | Superior Group Of Companies, Inc. (SGC) |
| Form Type | 10-Q |
| Filed Date | Nov 7, 2024 |
| Risk Level | low |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: quarterly-report, financials, stock-options
TL;DR
SGC Q3 sales $300K. SARs granted at $3.80, options at $4.27.
AI Summary
Superior Group of Companies, Inc. reported its Q3 2024 results, with net sales of $300,000 for the three months ended September 30, 2024. The company's fiscal year ends on December 31st. The filing also details the weighted average grant date fair value of SARs granted at $3.80 per share and stock options at $4.27 per share.
Why It Matters
This 10-Q filing provides investors with a quarterly update on the financial performance and operational details of Superior Group of Companies, Inc.
Risk Assessment
Risk Level: low — The filing is a standard quarterly report with no immediate red flags or significant negative financial events indicated.
Key Numbers
- $300,000 — Net Sales (For the three months ended September 30, 2024)
- $3.80 — SARs Grant Value (Weighted average grant date fair value per share)
- $4.27 — Stock Options Grant Value (Weighted average grant date fair value per share)
Key Players & Entities
- SUPERIOR GROUP OF COMPANIES, INC. (company) — Filer
- 20240930 (date) — Reporting period end date
- $300,000 (dollar_amount) — Net sales for Q3 2024
- $3.80 (dollar_amount) — Weighted average grant date fair value of SARs
- $4.27 (dollar_amount) — Weighted average grant date fair value of stock options
FAQ
What were the net sales for Superior Group of Companies, Inc. in Q3 2024?
Net sales for the three months ended September 30, 2024, were $300,000.
What is the fiscal year end for Superior Group of Companies, Inc.?
The fiscal year end is December 31st.
What was the weighted average grant date fair value of SARs granted?
The weighted average grant date fair value of SARs granted was $3.80 per share.
What was the weighted average grant date fair value of stock options granted?
The weighted average grant date fair value of stock options granted was $4.27 per share.
What is the filing date of this 10-Q report?
This 10-Q report was filed on November 7, 2024.
Filing Stats: 4,554 words · 18 min read · ~15 pages · Grade level 15 · Accepted 2024-11-06 18:01:13
Key Financial Figures
- $0.001 — ange on which registered Common Stock $0.001 par value per share SGC NASDAQ In
Filing Documents
- sgc20240930_10q.htm (10-Q) — 1268KB
- ex_720874.htm (EX-31.1) — 11KB
- ex_720875.htm (EX-31.2) — 12KB
- ex_720876.htm (EX-32) — 6KB
- 0001437749-24-033690.txt ( ) — 5688KB
- sgc-20240930.xsd (EX-101.SCH) — 43KB
- sgc-20240930_cal.xml (EX-101.CAL) — 38KB
- sgc-20240930_def.xml (EX-101.DEF) — 294KB
- sgc-20240930_lab.xml (EX-101.LAB) — 278KB
- sgc-20240930_pre.xml (EX-101.PRE) — 330KB
- sgc20240930_10q_htm.xml (XML) — 961KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements Condensed Consolidated Statements of Comprehensive Income (Unaudited) 4 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 31
Controls and Procedures
Item 4. Controls and Procedures 32
OTHER INFORMATION
PART II. OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings 33
Risk Factors
Item 1A. Risk Factors 33
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 34
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 34
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 34
Other Information
Item 5. Other Information 35
Exhibits
Item 6. Exhibits 36
SIGNATURES
SIGNATURES 37 2 Page
Financial Statements
Financial Statements Condensed Consolidated Statements of Comprehensive Income (Unaudited) 4 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) Note 1 - Description of Business and Basis of Presentation 9 Note 2 - Inventories 10 Note 3 - Long-Term Debt 11 Note 4 - Net Sales 12 Note 5 - Contingencies 13 Note 6 - Share-Based Compensation 13 Note 7 - Income Taxes 16 Note 8 - Net Income Per Share 16 Note 9 - Operating Segment Information 17 3 Table of Contents SUPERIOR GROUP OF COMPANIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (In thousands, except shares and per share data) Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Net sales $ 149,690 $ 136,126 $ 420,268 $ 396,061 Costs and expenses: Cost of goods sold 89,144 82,928 253,650 248,159 Selling and administrative expenses 52,215 47,246 149,339 134,007 Other periodic pension costs 189 214 567 642 Interest expense 1,569 2,464 4,897 7,658 143,117 132,852 408,453 390,466 Income before income tax expense 6,573 3,274 11,815 5,595 Income tax expense 1,170 160 1,900 380 Net income $ 5,403 $ 3,114 $ 9,915 $ 5,215 Net income per share: Basic $ 0.34 $ 0.19 $ 0.62 $ 0.33 Diluted $ 0.33 $ 0.19 $ 0.60 $ 0.32 Weighted average shares outstanding during the period: Basic 16,107,549 15,992,792 16,118,885 15,954,264 Diluted 16,543,990 16,155,355 16,588,914 16,132,832 Other comprehensive income (loss), net of tax: Recognition of net losses included in net periodic pension costs $ 23 $ 41 $ 68 $ 123 Foreign currency translation adjustme