My analysis argues that National Presto Industries (NYSE: NPK ) has shown it can roll with the punches for decades, even though it hasn't kept up with the S&P 500. Still, NPK's slow and steady dividend growth has paid The mission of Grassroots Trading rests on the following principles: providing objective, unbiased, and balanced research, backed by solid data and completely void of emotional influences or preference for companies; focusing on small- to mid-cap companies, offering the Seeking Alpha investor ...

Core Insights - The company reported strong overall performance in Q2 2024, primarily driven by the robust growth in the Defense segment [3][11] - Challenges were noted in the Housewares/Small Appliances and Safety segments, which negatively impacted overall profitability [11] Defense Segment - Sales in the Defense segment increased by $6.4 million, or 10.8%, compared to the same quarter last year, attributed to increased shipments from backlog orders [6] - Operating earnings for the Defense segment rose by $1.9 million, or 27%, driven by higher volumes, a favorable product mix, and improved operational efficiencies [6] Housewares/Small Appliances Segment - Sales in the Housewares/Small Appliances segment experienced a slight decline of $0.3 million, or 1.4%, from the prior year [2] - The segment's operating profit fell sharply by $0.7 million, or 81.6%, due to higher ocean shipping costs, significant maintenance repairs, and adjustments in various accruals [2][11] Safety Segment - The Safety segment reported a loss for the quarter, with nominal sales impacted by ongoing market challenges for carbon monoxide detectors and warning systems [5][11] Financial Performance - The company recorded net sales of $85.1 million compared to $79 million in the same period last year, indicating overall growth [7]

Core Viewpoint - Zacks Investment Research has initiated coverage of National Presto Industries, Inc. (NPK) with a Neutral recommendation, highlighting the company's strong financial position, strategic market positioning, and potential growth opportunities, while also acknowledging key challenges and risks [1]. Financial Performance - National Presto reported a robust financial position with $63.5 million in cash and low debt levels as of March 31, 2024, enhancing its ability to invest in growth and return value to shareholders through dividends and share buybacks [3]. - In Q1 2024, the company declared and paid dividends totaling $4.50 per share, reflecting its commitment to shareholder returns [3]. Revenue Segments - The company operates through three segments: Housewares/Small Appliances, Defense, and Safety, with diversified revenue streams contributing to financial stability [2]. - In Q1 2024, the Defense segment generated $55 million in net sales, supported by a contract backlog of $692.6 million [2]. - The Housewares/Small Appliances segment contributed $21.3 million in net sales, demonstrating stable performance despite competition [2]. Strategic Positioning - National Presto's strategic positioning in high-growth markets, such as defense and smart kitchen appliances, bolsters its long-term potential, driven by increasing demand for advanced defense systems and smart home appliances [4]. Challenges and Risks - The company faces challenges, including rising inventory levels from $190.4 million at the end of 2023 to $204 million as of March 31, 2024, raising concerns about demand forecasting [5]. - Heavy reliance on defense contracts exposes the company to changes in government spending and policy, which could impact revenues and profitability [5]. - The competitive kitchen appliances market poses risks, with major players like Samsung, LG, and Electrolux continuously innovating [6]. Stock Performance and Valuation - National Presto's stock performance has been mixed, reflecting a nuanced view of the company's prospects, and it appears fairly valued compared to its peers [7]. - While the company has solid fundamentals and growth potential, challenges justify a cautious stance [7].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ______________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED March 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM _____ TO _____ Commission file number 1-2451 ______________________________ NATIONAL PRESTO INDUSTRIES, INC. Wisconsin 39-0 ...

[General Filing Information](index=1&type=section&id=General%20Filing%20Information) Provides essential identification details for National Presto Industries, Inc. as the registrant for this Form 8-K filing [Registrant Information](index=1&type=section&id=Registrant%20Information) Identifies National Presto Industries, Inc. as the registrant, detailing its filing information and stock exchange listing - Registrant: National Presto Industries, Inc[2](index=2&type=chunk) - Date of Report (earliest event reported): April 26, 2024[2](index=2&type=chunk) Stock Exchange Listing | Title of each class | Trading Symbol(s) | Name of each exchange on which registered | | :----------------------- | :---------------- | :---------------------------------------- | | Common Stock, $1.00 par value | NPK | New York Stock Exchange | - The registrant is not an emerging growth company[4](index=4&type=chunk) [Item 2.02 Results of Operations and Financial Condition](index=2&type=section&id=Item%202.02%20Results%20of%20Operations%20and%20Financial%20Condition) Reports the release of financial results for the fiscal quarter ended March 31, 2024, via a press release - A press release regarding the registrant's results of operations for the fiscal quarter ended March 31, 2024, was issued on April 26, 2024[5](index=5&type=chunk) - The full text of the press release is filed as Exhibit 99.1 to this Form 8-K[5](index=5&type=chunk) [Item 9.01 Financial Statements and Exhibits](index=2&type=section&id=Item%209.01%20Financial%20Statements%20and%20Exhibits) Details the exhibits filed with the Form 8-K and includes a safe harbor statement for forward-looking information [Exhibits](index=2&type=section&id=Exhibits) Lists documents filed as exhibits to the Form 8-K, including the Q1 2024 press release and interactive data Filed Exhibits | Exhibit No. | Description | | :---------- | :---------------------------------------------------------- | | 99.1 | Press Release of National Presto Industries, Inc. dated April 26, 2024 | | 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | [Forward-Looking Statements and Risk Factors](index=2&type=section&id=Forward-Looking%20Statements%20and%20Risk%20Factors) Provides a safe harbor statement for forward-looking information, outlining key factors that could materially impact actual results - Forward-looking statements in this Form 8-K are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995[6](index=6&type=chunk) - Key factors that could cause actual results to differ materially include[6](index=6&type=chunk) - Government defense spending and requirements[6](index=6&type=chunk) - Termination for the convenience of the government[6](index=6&type=chunk) - Interest rates[6](index=6&type=chunk) - Continuity of relationships with and purchases by the United States Government and other major customers[6](index=6&type=chunk) - Unexpected problems or events experienced by subcontractors, team members, or their respective suppliers or subcontractors[6](index=6&type=chunk) - Product mix[6](index=6&type=chunk) - Competitive pressure on pricing[6](index=6&type=chunk) - Increases in material, freight/shipping, labor, or other production costs that cannot be recouped through pricing[6](index=6&type=chunk) [Signature](index=2&type=section&id=Signature) Confirms the official signing and authorization of the Form 8-K by the company's President and CEO [Authorization and Signatory](index=2&type=section&id=Authorization%20and%20Signatory) Confirms the Form 8-K was signed by Maryjo Cohen, President and CEO of National Presto Industries, Inc. on April 30, 2023 - The report was signed on behalf of National Presto Industries, Inc. on April 30, 2023[8](index=8&type=chunk) - Signatory: Maryjo Cohen, President and Chief Executive Officer[8](index=8&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________________________ to __________________________ Commission File Number 1-2451 NATIONAL PRESTO INDUSTRIES, INC. (Exact name of registrant as specified in its chart ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT (Exact name of registrant as specified in this chapter) Wisconsin 1-2451 39-0494170 (Commission File Number) (IRS Employer Identification No.) (State or other jurisdiction of incorporation) 3925 North Hastings Way (Address of principal executive office) (Zip Code) Eau Claire, Wisconsin 54703-3703 Registrant's telephone number, including area code: 715-839-2121 N/A (Former name or former address, if changed since ...

Sales Performance - For the year ended December 31, 2022, approximately 11% of consolidated net sales were from cast products, while 24% were from noncast/thermal appliances[13]. - Consolidated sales decreased by $34,154,000 (10%) in 2022, with net earnings down by $4,955,000 (19%) to $20,699,000[115]. - Net sales for 2022 were $321,623,000, a decrease of 9.6% from $355,777,000 in 2021[202]. - Housewares/Small Appliance net sales increased by $2,424,000 (2%) to $118,348,000, primarily due to pricing and mix changes[116]. - Defense net sales decreased by $37,031,000 (15%) to $202,483,000, reflecting a decrease in units shipped[116]. - The company’s sales are highly seasonal, with a substantial portion recognized during the holiday selling season, making it sensitive to shifts in consumer spending[63]. Financial Results - Gross profit for 2022 was $55,125,000, down 14.4% from $64,396,000 in 2021[202]. - Operating profit decreased to $22,127,000 in 2022, a decline of 26.4% compared to $30,029,000 in 2021[202]. - Net earnings for 2022 were $20,699,000, representing a 19.1% decrease from $25,654,000 in 2021[202]. - Earnings per share for 2022 were $2.92, down from $3.63 in 2021, reflecting a 19.5% decline[202]. - Total current assets decreased to $326,632,000 in 2022 from $348,053,000 in 2021, a reduction of 6.1%[199]. - Total liabilities increased slightly to $63,795,000 in 2022 from $62,775,000 in 2021[201]. - Cash and cash equivalents at the end of 2022 were $70,711,000, down 35.5% from $109,805,000 at the end of 2021[204]. - The company reported a loss on impairment of $5,295,000 in 2022, with no such losses reported in 2021[202]. - Dividends paid in 2022 totaled $31,826,000, a decrease from $44,083,000 in 2021, reflecting a reduction of 27.8%[204]. - As of December 31, 2022, the total stockholders' equity was $348,052,000, a decrease from $357,623,000 in 2021[205]. Defense Segment - The Defense segment has been awarded multiple contracts for the 40mm Ammunition System, with total deliveries exceeding $671 million under the first contract and $566 million under the second contract[28]. - The maximum ceiling value of the latest 40mm system contract awarded in September 2022 is $826.8 million, with deliveries scheduled to commence in late 2023[28]. - The Defense segment's contracts are primarily fixed-price, which limits adjustments based on actual costs incurred[29]. - The Defense segment's contract backlog was approximately $505.1 million as of December 31, 2022, up from $460.8 million in 2021 and $320.2 million in 2020, indicating a significant increase in demand[52]. - The Company’s U.S. Government contracts are primarily fixed-price, exposing it to risks from cost increases that could adversely affect profits[75]. - All U.S. Government contracts can be terminated by the government, which could lead to recovery of only incurred costs and profits on completed work[76]. Safety Segment - The Safety segment, formed in Q3 2019, includes three startup companies and has resulted in limited revenues due to its early-stage nature[34]. - The Safety segment's products utilize advanced technology, including machine learning and digital sensors, to provide early warnings of potential safety issues[31]. - The Safety segment consists of startup businesses, which may not achieve long-term success[80]. - Regulatory approvals for certain Safety segment products are necessary for commercial sales, and failure to obtain these could negatively impact results[85]. Research and Development - Research and development costs for new product development were not a material element in the aggregate costs incurred by the Company for the years 2022, 2021, and 2020[15]. - Research and development costs related to new product development were expensed in operations for the years 2022, 2021, and 2020, highlighting ongoing investment in innovation[36]. - The company’s ability to develop new products is critical for long-term success, but it faces risks related to technological innovations and intellectual property rights[64]. - The Company faces risks in developing new products, including potential intellectual property infringement and the need for significant marketing expenditures[89]. Operational Risks - The Company has no long-term supply contracts with major customers, which poses a risk if significant customers are lost[14]. - The Housewares/Small Appliance segment operates in a highly competitive and price-sensitive environment, with increased costs potentially impacting operating results[14]. - Increased costs for raw materials and transportation could adversely impact operating results if not passed on to customers[82]. - Reliance on suppliers in Asia and Mexico makes the Company vulnerable to supply chain disruptions and foreign business risks[83]. - The company relies heavily on sales to U.S. Government entities, making it vulnerable to changes in the U.S. defense budget and appropriations[71]. - The company does not maintain product recall insurance, which could expose it to significant costs in the event of product recalls or liability claims[67]. Corporate Governance - The Company has adopted a Corporate Code of Conduct applicable to all employees, ensuring ethical standards are maintained[186]. - The executive team includes Maryjo Cohen as President and CEO, with extensive experience since 1976[180]. - The Company intends to disclose any amendments to its Corporate Code of Conduct on its website[186]. - As of December 31, 2022, the Company's internal control over financial reporting was assessed as effective based on COSO criteria[165]. - The independent registered public accounting firm issued an unqualified opinion on the effectiveness of the Company's internal control over financial reporting as of December 31, 2022[171]. - The Company maintained effective internal control over financial reporting in all material respects as of December 31, 2022, according to the audit conducted[170]. - Management excluded Woodlawn Manufacturing from its internal control assessment due to its acquisition in Q4 2022, with Woodlawn's total assets and net income representing approximately 5% and less than 1% of consolidated amounts, respectively[172]. - The audit included understanding internal control, assessing risks, and testing the design and operating effectiveness of controls[174]. - Internal control over financial reporting is designed to provide reasonable assurance regarding the reliability of financial reporting[175]. Cash Flow and Investments - Cash provided by operating activities was $8,768,000 in 2022, down from $34,688,000 in 2021[132]. - Net cash used in investing activities was $16,436,000 in 2022, with $24,683,000 spent on acquiring two businesses[133]. - Cash flows from financing activities in 2022 were impacted by a $1.75 per share decrease in extra dividends paid compared to previous years[135]. - The company intends to maintain its investment strategy focused on safety and short-term liquidity throughout its holdings[140]. - The company has no history of investing in derivative financial instruments and primarily conducts transactions in U.S. dollars[158].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________________________ to __________________________ Commission File Number 1-2451 NATIONAL PRESTO INDUSTRIES, INC. (Exact name of registrant as specified in its chart ...

Commission File Number 1-2451 NATIONAL PRESTO INDUSTRIES, INC. (Exact name of registrant as specified in its charter) Wisconsin 39-0494170 (State or other jurisdiction of (IRS Employer UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition ...