Superior Group of Companies Sees Sales and Income Decline
Superior Group of Companies Reports Fourth Quarter Results
Today, Superior Group of Companies, Inc. (SGC) has announced its financial performance for the fourth quarter of 2024. The company observed total net sales of $145.4 million, a slight drop from the previous year's figure of $147.2 million. Likewise, net income fell to $2.1 million, down from $3.6 million the prior year.
Analyzing the Fourth Quarter Performance
In the fourth quarter concluding December 31, 2024, the company faced a decrease in net sales and income. The company reported a pretax income decline to $2.5 million from the previous year's $4.2 million. Net income per diluted share was at $0.13, compared to $0.22 in the fourth quarter of the prior year, marking a noticeable drop.
Strategic Investments and Growth Commitment
Michael Benstock, Chief Executive Officer, noted that the company's efforts in boosting sales and diluted earnings per share by 4% and 35%, respectively, showcased a determination to enhance financial stability. He pointed out the company's focus on strategic investments that encompassed people, services, products, and technology. This approach aims at bolstering operational efficiencies and customer experience
A Look Ahead: 2025 Full-Year Outlook
Looking forward to 2025, the company projected its net sales in the range of $585 million to $595 million, a considerable increase from 2024's net sales of $565.7 million. Additionally, estimated earnings per diluted share for 2025 is set between $0.75 and $0.82, pointing toward continued growth.
New Stock Repurchase Plan Approved
The Board of Directors has taken proactive steps, authorizing a new stock repurchase plan amounting to $17.5 million. This plan will take effect upon the completion of the previously approved $10 million plan, aiming to return value to shareholders while positioning the company for future growth.
Credit Agreement Amendments
On March 7, 2025, the company entered into an amendment to its Credit Agreement, allowing for restricted payments of up to $30 million in any fiscal year. This is an increase from the previous $20 million limit, thus enhancing flexibility for dividends and share repurchases.
Fiscal Responsibility and Financial Health
Financially, the company continues to navigate challenging market conditions while maintaining a focus on cost management and customer satisfaction. The company’s commitment to profitability is paramount, with endeavors being made to adjust operational strategies for improved financial performance.
Webcast and Conference Call Details
A webcast and conference call have been scheduled for today at 5:00 pm Eastern Time, where more insights into the financial performance will be provided. Interested participants can join the call via their preferred communication means.
About Superior Group of Companies, Inc.
Founded in 1920, Superior Group of Companies, Inc. (SGC) operates in various growth sectors, providing diverse solutions that create exceptional customer and employee engagement experiences. The company is dedicated to leveraging service excellence, quality, and technology innovation as integral components of its operational strategy.
Investor Relations Contact
For further information, please contact the investor relations team at Investors@Superiorgroupofcompanies.com.
Frequently Asked Questions
What were Superior Group's total net sales for Q4 2024?
The company reported total net sales of $145.4 million for Q4 2024.
How did net income change compared to last year?
Net income decreased to $2.1 million in Q4 2024, compared to $3.6 million in Q4 2023.
What is the growth outlook for 2025?
Superior Group forecasts net sales between $585 million to $595 million for 2025, reflecting growth aspirations.
What is the new stock repurchase plan approved by the board?
The new plan authorizes repurchases totaling up to $17.5 million of common stock.
How does the company ensure profitability amidst market challenges?
The company focuses on strategic investments, cost management, and operational efficiencies to maintain profitability.
About The Author
Contact Dominic Sanders privately here. Or send an email with ATTN: Dominic Sanders as the subject to contact@investorshangout.com.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
The content of this article is based on factual, publicly available information and does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice, and the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. This article should not be considered advice to purchase, sell, or hold any securities or other investments. If any of the material provided here is inaccurate, please contact us for corrections.
