Select Interior Concepts (SIC) Misses Q3 EPS by 13c, Revenues Miss

Select Interior Concepts (NASDAQ: SIC) reported Q3 EPS of $0.10, $0.13 worse than the analyst estimate of $0.23. Revenue for the quarter came in at $159.4 million versus the consensus estimate of $165.8 million.

THIRD QUARTER 2019 FINANCIAL HIGHLIGHTS COMPARED TO THIRD QUARTER 2018

• Consolidated net sales increased 25.0% to $159.4 million, including organic sales growth of 2.1%
• Gross profit grew 16.1% to $42.3 million
• Net income was $2.5 million, or $0.10 per share, compared to $0.8 million, or $0.03 per share
• EBITDA increased 64.0% to $14.3 million; Adjusted EBITDA increased 12.9% to $17.0 million
• Operating cash flow totaled $11.5 million, compared to $2.9 million

Tyrone Johnson, Chief Executive Officer of Select Interior Concepts, stated, “Our team achieved overall positive results for the quarter despite market softness experienced in our RDS segment in Southern California and changes to our supply chain in our ASG segment. We remain focused on driving greater efficiencies and accelerating the integration of acquisitions onto our platform. While we expect continued softness in Southern California, we are optimistic that recent increases in year-over-year housing starts and improving builder sentiment will translate into increased activity for our Company in 2020.”

For earnings history and earnings-related data on Select Interior Concepts (SIC) click here.

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