Dixie Group Inc. Files Q2 2024 10-Q Financial Report
Ticker: DXYN · Form: 10-Q · Filed: Aug 9, 2024 · CIK: 29332
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
Dixie Group Q2 2024 10-Q is in. Check financials.
AI Summary
Dixie Group Inc. filed its 10-Q for the period ending June 29, 2024. The filing provides financial details for the second quarter of 2024, including balance sheet information and statements of operations. Specific financial figures and comparative data from prior periods are detailed within the report.
Why It Matters
This filing provides investors and analysts with the latest financial performance data for Dixie Group Inc., crucial for understanding the company's current health and future prospects.
Risk Assessment
Risk Level: medium — The filing is a standard quarterly report, but the carpet and rug industry can be subject to economic fluctuations.
Key Numbers
- 20240629 — Period End Date (End of the second quarter of fiscal year 2024.)
- 2023-12-31 — Previous Year End Date (End of the fiscal year 2023.)
Key Players & Entities
- DIXIE GROUP INC (company) — Filer
- 20240629 (date) — Period of Report
- 20240809 (date) — Filing Date
- DALTON, GA (location) — Business Address
- 7068765814 (phone_number) — Business Phone
FAQ
What is the filing date of this 10-Q report?
The 10-Q report for Dixie Group Inc. was filed on 20240809.
What period does this 10-Q filing cover?
This 10-Q filing covers the period ending on 20240629.
What is the company's primary industry based on the SIC code?
The company's Standard Industrial Classification (SIC) code is 2273, which corresponds to Carpets and Rugs.
Where is Dixie Group Inc. headquartered?
Dixie Group Inc.'s business address is listed as PO BOX 2007, DALTON, GA 30722.
What was the previous name of Dixie Group Inc.?
The company was formerly known as DIXIE YARNS INC, with a name change date of 19920703, and prior to that, DIXIE MERCERIZING CO, with a name change date of 19670524.
Filing Stats: 4,815 words · 19 min read · ~16 pages · Grade level 16.2 · Accepted 2024-08-09 15:50:14
Key Financial Figures
- $3 — ange on which registered Common Stock, $3 Par Value DXYN NASDAQ Stock Market, LLC
Filing Documents
- dxyn-20240629.htm (10-Q) — 1126KB
- ex31_1ceocertq22024.htm (EX-31.1) — 11KB
- ex31_2cfocertq22024.htm (EX-31.2) — 11KB
- ex32_1ceocertq22024.htm (EX-32.1) — 4KB
- ex32_2cfocertq22024.htm (EX-32.2) — 4KB
- dxyn-20240629_g1.jpg (GRAPHIC) — 14KB
- 0000029332-24-000050.txt ( ) — 7336KB
- dxyn-20240629.xsd (EX-101.SCH) — 61KB
- dxyn-20240629_cal.xml (EX-101.CAL) — 128KB
- dxyn-20240629_def.xml (EX-101.DEF) — 200KB
- dxyn-20240629_lab.xml (EX-101.LAB) — 604KB
- dxyn-20240629_pre.xml (EX-101.PRE) — 410KB
- dxyn-20240629_htm.xml (XML) — 1136KB
FINANCIAL INFORMATION Page
PART I. FINANCIAL INFORMATION Page
Financial Statements
Item 1. Financial Statements 3 Consolidated Condensed Balance Sheets - June 29 , 2024 (Unaudited) and December 30, 2023 3 Consolidated Condensed Statements of Operations (Unaudited) - Three and Six Months Ended June 29 , 2024 and July 1, 2023 4 Consolidated Condensed Statements of Comprehensive Income (Loss) (Unaudited) - Three a nd Six Months Ended June 29 , 2024 and July 1, 2023 5 Consolidated Condensed Statements of Cash Flows (Unaudited) - Six Months Ended June 29 , 2024 and July 1, 2023 6 Consolidated Condensed Statements of Stockholders' Equity (Unaudited) - Three and Six Months ended June 29 , 2024 and July 1, 2023 7 Notes to Consolidated Condensed Financial Statements (Unaudited) 7
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 21
Quantitative and Qualitative Disclosures about Market Risk
Item 3. Quantitative and Qualitative Disclosures about Market Risk 26
Controls and Procedures
Item 4. Controls and Procedures 26
OTHER INFORMATION
PART II. OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings 27
Risk Factors
Item 1A. Risk Factors 27
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 32
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 32
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 32
Other information
Item 5. Other information 32
Exhibits
Item 6. Exhibits 32
Signatures
Signatures 33 Table of Contents 2
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements THE DIXIE GROUP, INC. CONSOLIDATED CONDENSED BALANCE SHEETS (amounts in thousands, except share data) June 29, 2024 December 30, 2023 ASSETS (Unaudited) CURRENT ASSETS Cash and cash equivalents $ 83 $ 79 Receivables, net of allowances for expected credit losses of $ 454 and $ 440 28,019 23,686 Inventories, net 76,131 76,211 Prepaid and other current assets 10,877 12,154 Current assets of discontinued operations 219 265 TOTAL CURRENT ASSETS 115,329 112,395 PROPERTY, PLANT AND EQUIPMENT, NET 36,077 31,368 OPERATING LEASE RIGHT-OF-USE ASSETS 27,425 28,962 OTHER ASSETS 18,267 17,130 LONG-TERM ASSETS OF DISCONTINUED OPERATIONS 1,394 1,314 TOTAL ASSETS $ 198,492 $ 191,169 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable $ 19,371 $ 13,935 Accrued expenses 17,407 16,598 Current portion of long-term debt 3,184 4,230 Current portion of operating lease liabilities 3,835 3,654 Current liabilities of discontinued operations 1,016 1,137 TOTAL CURRENT LIABILITIES 44,813 39,554 LONG-TERM DEBT, NET 82,699 78,290 OPERATING LEASE LIABILITIES 24,206 25,907 OTHER LONG-TERM LIABILITIES 15,844 14,591 LONG-TERM LIABILITIES OF DISCONTINUED OPERATIONS 3,626 3,536 TOTAL LIABILITIES 171,188 161,878 COMMITMENTS AND CONTINGENCIES (See Note 17) STOCKHOLDERS' EQUITY Common Stock ($ 3 par value per share): Authorized 80,000,000 shares, issued and outstanding - 14,337,672 shares for 2024 and 14,409,281 shares for 2023 43,013 43,228 Class B Common Stock ($ 3 par value per share): Authorized 16,000,000 shares, issued and outstanding - 1,249,302 shares for 2024 and 1,121,129 shares for 2023 3,748 3,363 Additional paid-in capital 158,876 159,132 Accumulated deficit ( 178,591 ) ( 176,700 ) Accumulated other comprehensive income 258 268 TOTAL STOCKHOLDERS' EQUITY 27,304 29,291 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 198,492 $ 191,169 See accompanying notes to the consolidated condensed financial