Dixie Group Inc. Files Q3 2024 10-Q Report
Ticker: DXYN · Form: 10-Q · Filed: Oct 28, 2024 · CIK: 29332
Sentiment: neutral
Topics: 10-Q, quarterly-report, filing
TL;DR
Dixie Group Inc. filed its Q3 2024 10-Q. Check financials.
AI Summary
Dixie Group Inc. reported its third quarter 2024 results ending September 28, 2024. The company's filing indicates a fiscal year end of December 31st. Specific financial figures and operational details for the quarter are not detailed in this header information.
Why It Matters
This filing provides investors with an update on Dixie Group Inc.'s financial performance and operational status for the third quarter of 2024.
Risk Assessment
Risk Level: low — This is a standard quarterly filing (10-Q) and does not inherently contain new high-risk information.
Key Numbers
- 20240928 — Reporting Period End Date (Third quarter 2024)
- 20241028 — Filing Date (Date the report was submitted)
Key Players & Entities
- DIXIE GROUP INC (company) — Filer
- 20240928 (date) — Reporting Period End Date
- 20241028 (date) — Filing Date
- DALTON (location) — Business Address City
- GA (location) — Business Address State
FAQ
What is the company's primary industry?
The company is in the CARPETS AND RUGS industry, with SIC code 2273.
What is the company's state of incorporation?
The company is incorporated in Tennessee (TN).
What is the company's fiscal year end?
The company's fiscal year ends on December 31st (1231).
What is the filing date of this 10-Q report?
This 10-Q report was filed on October 28, 2024 (20241028).
What is the reporting period for this 10-Q?
The reporting period for this 10-Q is the quarter ending September 28, 2024 (20240928).
Filing Stats: 4,849 words · 19 min read · ~16 pages · Grade level 16.4 · Accepted 2024-10-28 14:13:34
Key Financial Figures
- $3 — ange on which registered Common Stock, $3 Par Value DXYN OTCQB Indicate by chec
Filing Documents
- dxyn-20240928.htm (10-Q) — 1174KB
- a10_1saralandwarehouseleas.htm (EX-10.1) — 244KB
- ex31_1ceocertq32024.htm (EX-31.1) — 11KB
- ex31_2cfocertq32024.htm (EX-31.2) — 11KB
- ex32_1ceocertq32024.htm (EX-32.1) — 4KB
- ex32_2cfocertq32024.htm (EX-32.2) — 4KB
- dxyn-20240928_g1.jpg (GRAPHIC) — 14KB
- image.jpg (GRAPHIC) — 83KB
- image1.jpg (GRAPHIC) — 117KB
- image2.jpg (GRAPHIC) — 106KB
- 0000029332-24-000064.txt ( ) — 8116KB
- dxyn-20240928.xsd (EX-101.SCH) — 60KB
- dxyn-20240928_cal.xml (EX-101.CAL) — 128KB
- dxyn-20240928_def.xml (EX-101.DEF) — 197KB
- dxyn-20240928_lab.xml (EX-101.LAB) — 601KB
- dxyn-20240928_pre.xml (EX-101.PRE) — 410KB
- dxyn-20240928_htm.xml (XML) — 1157KB
FINANCIAL INFORMATION Page
PART I. FINANCIAL INFORMATION Page
Financial Statements
Item 1. Financial Statements 3 Consolidated Condensed Balance Sheets - September 2 8 , 2024 (Unaudited) and December 30, 2023 3 Consolidated Condensed Statements of Operations (Unaudited) - Three and Nine Months Ended September 2 8 , 2024 and September 30 , 2023 4 Consolidated Condensed Statements of Comprehensive Income (Loss) (Unaudited) - Three and Nine Months Ended September 2 8 , 2024 and September 30 , 2023 5 Consolidated Condensed Statements of Cash Flows (Unaudited) - Nine Months Ended September 2 8 , 2024 and September 30 , 2023 6 Consolidated Condensed Statements of Stockholders' Equity (Unaudited) - Three and N i ne Months ended September 2 8 , 2024 and September 30 , 2023 7 Notes to Consolidated Condensed Financial Statements (Unaudited) 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 23
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 28
OTHER INFORMATION
PART II. OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings 29
Risk Factors
Item 1A. Risk Factors 29
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 34
Exhibits
Item 6. Exhibits 34
Signatures
Signatures 35 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) September 28, 2024 December 30, 2023 ASSETS (Unaudited) CURRENT ASSETS Cash and cash equivalents $ 1,053 $ 79 Receivables, net of allowances for expected credit losses of $ 415 and $ 440 26,578 23,686 Inventories, net 76,754 76,211 Prepaid and other current assets 8,201 12,154 Current assets of discontinued operations 199 265 TOTAL CURRENT ASSETS 112,785 112,395 PROPERTY, PLANT AND EQUIPMENT, NET 34,942 31,368 OPERATING LEASE RIGHT-OF-USE ASSETS 26,466 28,962 OTHER ASSETS 19,125 17,130 LONG-TERM ASSETS OF DISCONTINUED OPERATIONS 1,383 1,314 TOTAL ASSETS $ 194,701 $ 191,169 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable $ 18,913 $ 13,935 Accrued expenses 17,891 16,598 Current portion of long-term debt 2,680 4,230 Current portion of operating lease liabilities 3,863 3,654 Current liabilities of discontinued operations 1,049 1,137 TOTAL CURRENT LIABILITIES 44,396 39,554 LONG-TERM DEBT, NET 83,733 78,290 OPERATING LEASE LIABILITIES 23,221 25,907 OTHER LONG-TERM LIABILITIES 16,460 14,591 LONG-TERM LIABILITIES OF DISCONTINUED OPERATIONS 3,620 3,536 TOTAL LIABILITIES 171,430 161,878 COMMITMENTS AND CONTINGENCIES (See Note 17) STOCKHOLDERS' EQUITY Common Stock ($ 3 par value per share): Authorized 80,000,000 shares, issued and outstanding - 14,012,784 shares for 2024 and 14,409,281 shares for 2023 42,038 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 159,734 159,132 Accumulated deficit ( 182,502 ) ( 176,700 ) Accumulated other comprehensive income 253 268 TOTAL STOCKHOLDERS' EQUITY 23,271 29,291 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 194,701 $ 191,169 See accompanying notes to the consolidated condensed fin