Q2 results out...earned 13 cents/share earnings for Q1 plus Q2 is 25 cents, only 3 cents lower than last year..relatively decent numbers with margins still holding above 10% as compared to its competitors..stock rebounded 10% today...
WHERE"S MY SPECIAL DIVIDEND????? see below...dwdc
Second Quarter Ended June 30, 2024 Earnings Results
Sales for the quarter ended June 30, 2024 were $427.8 million compared to $446.9 million over the same period last year. The decrease in sales by $19.1 million or 4% was largely due to selling lower quantities of commodity products.
Gross margin for the quarter ended June 30, 2024 decreased to $44.5 million from $52.4 million over the same period last year. Gross margin percentage was 10.4% for the three months ended June 30, 2024 compared to 11.7% over the same period last year. The decrease in gross margin dollars was primarily due to selling lower quantities of commodity products during the quarter combined with fluctuating commodity prices.
Net earnings for the quarter ended June 30, 2024 decreased to $13.9 million from $17.0 million over the same period last year primarily due to decreased gross margin dollars.
EBITDA for the quarter ended June 30, 2024 was $22.7 million compared to $28.0 million for the same period last year. EBITDA decreased primarily due to lower margin dollars earned during the quarter.