Escalade Inc. Files Q2 2024 10-Q, Details Credit Facility
Ticker: ESCA · Form: 10-Q · Filed: Jul 25, 2024 · CIK: 33488
Sentiment: neutral
Topics: 10-Q, credit-facility, financials
TL;DR
Escalade's Q2 10-Q is out, check the credit facility details.
AI Summary
Escalade Inc. reported its Q2 2024 results, ending June 30, 2024. The company's financial performance for the period and its credit facilities were detailed in this 10-Q filing. Specific financial figures and details about their revolving credit facility, including restatements on dates like September 1, 2023, and May 8, 2023, are provided.
Why It Matters
This filing provides investors with a detailed look at Escalade Inc.'s financial health and its debt structure, crucial for understanding the company's operational stability and future borrowing capacity.
Risk Assessment
Risk Level: medium — The filing details credit facilities, which can indicate leverage and financial risk for the company.
Key Numbers
- 1.25 — Stock Price (Indicates current market valuation)
- 1.10 — Stock Price (Indicates current market valuation)
- 2.75 — Stock Price (Indicates current market valuation)
- 3.00 — Stock Price (Indicates current market valuation)
- 4.25 — Stock Price (Indicates current market valuation)
- 3.00 — Stock Price (Indicates current market valuation)
- 3.25 — Stock Price (Indicates current market valuation)
- 3.00 — Stock Price (Indicates current market valuation)
Key Players & Entities
- ESCALADE INC (company) — Filer
- 20240630 (date) — Reporting Period End Date
- 20240725 (date) — Filing Date
- 817 MAXWELL AVE. (address) — Business and Mailing Address
- EVANSVILLE (location) — City
- IN (location) — State
- 47711 (zip_code) — Zip Code
- 812-467-4449 (phone_number) — Business Phone
- MARTIN YALE BUSINESS MACHINES CORP (company) — Former Company Name
- MARTIN YALE INDUSTRIES INC (company) — Former Company Name
FAQ
What is the reporting period for this 10-Q filing?
The conforming period of report is 20240630, indicating the second quarter of 2024.
When was this 10-Q filing submitted to the SEC?
The filing was submitted on 20240725.
What is Escalade Inc.'s primary business address?
The business address is 817 MAXWELL AVE., EVANSVILLE, IN 47711.
Has Escalade Inc. had previous company names?
Yes, the company was formerly known as MARTIN YALE BUSINESS MACHINES CORP, MARTIN YALE INDUSTRIES INC, and WILLIAMS MANUFACTURING CO.
What are the dates associated with the restated credit agreement?
The filing mentions restated credit agreements on 2024-06-30, 2023-09-01, 2023-05-08, and 2022-10-26.
Filing Stats: 4,566 words · 18 min read · ~15 pages · Grade level 16.6 · Accepted 2024-07-25 16:50:04
Filing Documents
- esca20240630_10q.htm (10-Q) — 794KB
- ex_700673.htm (EX-31.1) — 11KB
- ex_700674.htm (EX-31.2) — 12KB
- ex_700675.htm (EX-32.1) — 4KB
- ex_700676.htm (EX-32.2) — 5KB
- 0001437749-24-023485.txt ( ) — 4100KB
- esca-20240630.xsd (EX-101.SCH) — 39KB
- esca-20240630_def.xml (EX-101.DEF) — 233KB
- esca-20240630_lab.xml (EX-101.LAB) — 193KB
- esca-20240630_pre.xml (EX-101.PRE) — 257KB
- esca-20240630_cal.xml (EX-101.CAL) — 38KB
- esca20240630_10q_htm.xml (XML) — 636KB
Financial Statements
Financial Statements: Consolidated Condensed Balance Sheets as of June 30, 2024, December 31, 2023, and June 30, 2023 3 Consolidated Condensed Statements of Operations for the Three Months and Six Months Ended June 30, 2024 and June 30, 2023 4 Consolidated Condensed Statements of Stockholders' Equity for the Three Months and Six Months Ended June 30, 2024 and June 30, 2023 5 Consolidated Condensed Statements of Cash Flows for the Six Months Ended June 30, 2024 and June 30, 2023 6 Notes to Consolidated Condensed Financial Statements 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 14 Item 3 -
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 17 Item 4 -
Controls and Procedures
Controls and Procedures 17 Part II. Other Information Item 1A -
Risk Factors
Risk Factors 18 Item 2 - Unregistered Sales of Equity Securities and Use of Proceeds 19 Item 6 - Exhibits 20 Signature 20 2
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION
FINANCIAL STATEMENTS
Item 1. FINANCIAL STATEMENTS ESCALADE, INCORPORATED AND SUBSIDIARIES CONSOLIDATED CONDENSED BALANCE SHEETS All Amounts in Thousands Except Share Information June 30, 2024 December 31, 2023 June 30, 2023 (Unaudited) (Audited) (Unaudited) ASSETS Current Assets: Cash and cash equivalents $ 362 $ 16 $ 577 Receivables, less allowance of $ 489 ; $ 652 ; and $ 355 ; respectively 47,829 49,985 54,975 Inventories 86,571 92,462 111,676 Prepaid expenses 2,461 4,280 3,925 Prepaid income tax 1,829 88 1,518 TOTAL CURRENT ASSETS 139,052 146,831 172,671 Property, plant and equipment, net 23,441 23,786 24,261 Assets held for sale 2,459 2,653 2,823 Operating lease right-of-use assets 7,905 8,378 8,669 Intangible assets, net 27,456 28,640 29,880 Goodwill 42,326 42,326 42,326 Other assets 427 391 455 TOTAL ASSETS $ 243,066 $ 253,005 $ 281,085 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Current portion of long-term debt $ 7,143 $ 7,143 $ 7,143 Trade accounts payable 12,798 9,797 14,680 Accrued liabilities 9,222 15,283 9,897 Current operating lease liabilities 1,077 1,041 1,002 TOTAL CURRENT LIABILITIES 30,240 33,264 32,722 Other Liabilities: Longterm debt 36,024 43,753 76,809 Deferred income tax liability 3,125 3,125 4,516 Operating lease liabilities 7,398 7,897 8,222 Other liabilities 297 387 407 TOTAL LIABILITIES 77,084 88,426 122,676 Stockholders' Equity: Preferred stock: Authorized 1,000,000 shares; no par value, none issued Common stock: Authorized 30,000,000 shares; no par value, issued and outstanding – 13,877,302 ; 13,736,800 ; and 13,736,800 ; shares respectively 5,406 4,480 3,389 Retained earnings 160,576 160,099 155,020 TOTAL STOCKHOLDERS' EQUITY 165,982 164,579 158,409 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 243,066 $ 253,005 $ 281,085 S