Escalade (ESCA) Tops Q1 EPS by 23c, Revenues Beat

Escalade (NASDAQ: ESCA) reported Q1 EPS of $0.39, $0.23 better than the analyst estimate of $0.16. Revenue for the quarter came in at $59.2 million versus the consensus estimate of $50.34 million.

First-Quarter Highlights

• Revenue increased 58.7% on net sales of $59.2 million
• Gross margin improvement of 210 bps to 29.5%
• Operating income of $7.1 million, an increase of 194.1%
• Diluted EPS of $0.39 per share vs. $0.14 in the first quarter of 2020

"First quarter results were quite good, reflecting continued strong demand for our categories, market share gains, margin improvement due to increased factory utilization, and SG&A leverage. Through extraordinary efforts by our teams, we were able to mitigate some of the negative impact from supply chain and logistics issues, sharply higher raw material costs, and negative currency exchange rates. While these cost headwinds are continuing, they are not unique to Escalade and we are taking every measure to protect the profit margins which allow us to reinvest in the business, to support our retail partners, and serve our consumers with innovative products that bring families and friends together," said Walter P. Glazer, Jr., Interim President and CEO of Escalade, Inc.

"Late last year, we made a significant inventory commitment to ensure supply for our retail partners," continued Glazer. "While we are carrying much higher than normal inventory, current supply chain issues and delays may work in our favor over the coming months."

For earnings history and earnings-related data on Escalade (ESCA) click here.

You May Also Be Interested In

• Bristol-Myers Squibb (BMY) stock slips despite earnings beat
• Calavo Growers (CVGW) Issues Update to Shareholders
• Cboe Global Markets (CBOE) Realigns Digital Asset Business