Rocky Brands (NASDAQ: RCKY) reported Q2 EPS of $0.44, $0.60 better than the analyst estimate of ($0.16). Revenue for the quarter came in at $56.2 million versus the consensus estimate of $42.1 million.

• Second Quarter Diluted Earnings Per Share of $0.33
• Retail Sales Increased 15.8% to $16.3 Million
• Cash Flow from Operations Increased by $4.7 Million
• Company had Cash and Cash Equivalents of $25.8 Million and Zero Debt at June 30, 2020

Jason Brooks, President and Chief Executive Officer, commented, “Our business exhibited increasing strength as the quarter progressed despite the ongoing challenges created by COVID-19. The work we’ve done over the past several years strengthening our brands and product lines, enhancing our marketing programs and building out our digital capabilities has allowed us to capitalize on the accelerated shift in consumer spending online brought on by the pandemic. Between our branded websites and online marketplaces, total digital sales increased triple digits on a percentage basis in the second quarter driven by existing customers and a dramatic increase in new customer acquisition. Meanwhile, the strong relationships we have forged with our key wholesale accounts helped us weather the slowdown at brick and mortar retail from reduced traffic and store closures. As lockdown restrictions began to ease in many areas of the country midway through the second quarter, we experienced a significant pick up in weekly sell-through at retail. Given the circumstances, we are pleased with our recent performance and encouraged as this momentum has carried into July. While there is still uncertainty about the ultimate impact that COVID-19 will have on our industry and the overall economy, I am confident that our business model and balance sheet, which featured over $25 million in cash and cash equivalents and no debt at the end of the second quarter, have Rocky Brands well positioned to navigate the current headwinds and emerge from the pandemic poised for long-term success.”

For earnings history and earnings-related data on Rocky Brands (RCKY) click here.