Financial Performance - Net sales for 2024 increased to $565,676 thousand, up from $543,302 thousand in 2023, representing a growth of approximately 4.9%[225] - Net income for 2024 was $12,004 thousand, compared to $8,772 thousand in 2023, reflecting a significant increase of 36.5%[225] - Basic net income per share rose to $0.75 in 2024 from $0.55 in 2023, an increase of 36.4%[225] - Total assets decreased to $415,134 thousand in 2024 from $422,450 thousand in 2023, a decline of about 1.7%[227] - Total liabilities decreased to $216,278 thousand in 2024 from $224,812 thousand in 2023, a reduction of approximately 3.8%[227] - Cash dividends per common share remained stable at $0.56 for both 2024 and 2023[225] - Net cash provided by operating activities decreased to $33,428 thousand in 2024 from $78,929 thousand in 2023, a decline of 57.6%[233] - Shareholders' equity increased slightly to $198,856 thousand in 2024 from $197,638 thousand in 2023, an increase of 0.6%[227] Segment Performance - The Contact Centers segment accounted for approximately 17% of net sales in 2024, up from 16% in 2023[23] - The Branded Products segment generated net sales of $353.314 million in 2024, up from $342.680 million in 2023, reflecting a growth of about 3.5%[283] - The Healthcare Apparel segment's net sales increased to $119.191 million in 2024 from $113.878 million in 2023, marking a growth of approximately 4.6%[283] - The Contact Centers segment achieved net sales of $96.949 million in 2024, compared to $91.500 million in 2023, indicating a growth of around 5.9%[283] - Segment EBITDA for the Company was $34.097 million in 2024, compared to $33.482 million in 2023, showing an increase of approximately 1.8%[282] Acquisitions and Goodwill - The Company acquired Cormark Inc. for a total purchase price of $6.4 million, which includes $4.0 million in cash and $1.5 million in restricted stock[41] - Total goodwill recorded from the acquisition of Cormark Inc. was $2.3 million, assigned to the Branded Products segment[41] - The Company recorded total goodwill of $2.3 million in connection with the acquisition of 3Point, assigned to the Branded Products segment[294] - The estimated fair value of contingent consideration related to the acquisition of Guardian Products, Inc. is $0.8 million, expected to be paid in Q3 2025[296] - The estimated fair value of contingent consideration related to the acquisition of 3Point is $0.9 million, expected to be paid in Q2 2026[297] Risks and Challenges - The Company relies heavily on raw materials sourced from China, which poses a risk of significant disruption if sourcing is interrupted[29][31] - The promotional products industry is price sensitive, and cost increases in raw materials could lead to declining profit margins if not passed on to customers[32] - The company faces risks related to distribution center operations, including potential workplace safety issues and compliance with labor laws, which could harm customer relationships and reputation[54] - Inaccurate demand forecasting may adversely affect operations, leading to inefficient inventory supply or increased costs, impacting overall financial results[55] - Increased volatility in shipping times and production disruptions could result in product shortages or excess inventory, negatively affecting gross margins and brand strength[56] - The company faces pricing pressures in the branded uniforms and healthcare apparel industries, which may adversely affect financial performance[87] - Increased customer demands for allowances and incentives could reduce margins and profitability[88] - Economic slowdowns and changes in employment levels could negatively impact revenue growth rates, emphasizing the need for customer expansion and service diversification[85] - Economic and political conditions, including inflation and geopolitical events, could materially impact the company's business operations[91] Compliance and Legal Matters - Compliance with evolving data privacy laws, such as the GDPR, is critical, as violations could result in significant penalties and negatively impact operations[70] - The Company is subject to periodic litigation that may adversely affect its financial position and results of operations[116] - The Company may incur additional tax liabilities due to challenges from tax authorities, which could materially affect its financial condition[121] Operational Considerations - The company relies on information technology systems for operations, and any disruptions, including cyber-attacks, could adversely affect business operations and financial condition[66] - The Company has a redundant network of suppliers to mitigate risks associated with sourcing and manufacturing disruptions[30] - The Company recognizes revenue from contracts with customers using a five-step model, ensuring compliance with GAAP[242] - The Company analyzes accounts receivable and historical bad debt experience to establish allowances for doubtful accounts, reflecting changes in estimates in the period they become known[248] - The Company maintains no customer with an accounts receivable balance greater than 10% of total accounts receivable as of December 31, 2024, and 2023[266] Financial Position and Debt - The company's total consolidated indebtedness was $86.0 million as of December 31, 2024, which may limit cash flow available for business investments[101] - Total debt as of December 31, 2024, is $86.035 million, down from $93.477 million in 2023, representing a decrease of approximately 8%[289] - The weighted average interest rate on outstanding borrowings under the Credit Facilities was 5.5% as of December 31, 2024[290] - The Company is required to maintain a fixed charge coverage ratio of at least 1.25 to 1.0 and a net leverage ratio not to exceed 4.0 to 1.0, and it was in compliance with these ratios as of December 31, 2024[292] - Contractual principal payments for the term loan are $5.6 million in 2025, $6.6 million in 2026, and $52.5 million in 2027[291] Currency and Interest Rate Exposure - Less than 5% of the Company's sales contracts are denominated in foreign currencies, exposing it to fluctuations in foreign currency exchange rates[201] - The Company experienced a foreign currency translation adjustment loss of $3.4 million for the year ended December 31, 2024, compared to a gain of $0.7 million for the year ended December 31, 2023[202] - The Company reported a foreign currency translation adjustment loss of $3,375 thousand in 2024 compared to a gain of $735 thousand in 2023[225] - The Company reported a hypothetical increase in the secured overnight financing rate (SOFR) of 100 basis points would result in approximately $0.9 million in additional pre-tax interest expense for the year ended December 31, 2024[200]

Exhibit 99.1 A NASDAQ Listed Company: SGC FOR IMMEDIATE RELEASE SUPERIOR GROUP OF COMPANIES REPORTS FOURTH QUARTER 2024 RESULTS – Total net sales of $145.4 million versus $147.2 million in prior year fourth quarter – – Net income of $2.1 million versus $3.6 million in prior year fourth quarter – – EBITDA of $7.3 million versus $9.9 million in prior year fourth quarter – – Board of Directors approves additional stock repurchase plan – – Provides full-year outlook – Fourth Quarter Results For the fourth quart ...

– Total net sales of $145.4 million versus $147.2 million in prior year fourth quarter –– Net income of $2.1 million versus $3.6 million in prior year fourth quarter –– EBITDA of $7.3 million versus $9.9 million in prior year fourth quarter –– Board of Directors approves additional stock repurchase plan –– Provides full-year outlook – ST. PETERSBURG, Fla., March 11, 2025 (GLOBE NEWSWIRE) -- Superior Group of Companies, Inc. (NASDAQ: SGC) (the “Company”), today announced its fourth quarter 2024 results. “Fo ...

Superior Group (SGC) closed the most recent trading day at $13.85, moving +1.91% from the previous trading session. The stock's performance was ahead of the S&P 500's daily loss of 1.78%. Elsewhere, the Dow lost 0.99%, while the tech-heavy Nasdaq lost 2.61%.The uniform maker's stock has dropped by 8.91% in the past month, falling short of the Consumer Discretionary sector's loss of 1.66% and the S&P 500's loss of 3.48%.The upcoming earnings release of Superior Group will be of great interest to investors. T ...

Superior Group (SGC) closed the most recent trading day at $14.29, moving +0.35% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 1.59%. Meanwhile, the Dow gained 1.39%, and the Nasdaq, a tech-heavy index, added 1.63%.The uniform maker's shares have seen a decrease of 9.13% over the last month, not keeping up with the Consumer Discretionary sector's loss of 1.22% and the S&P 500's loss of 2.42%.Analysts and investors alike will be keeping a close eye on the ...

ST. PETERSBURG, Fla., Feb. 27, 2025 (GLOBE NEWSWIRE) -- Superior Group of Companies, Inc. (NASDAQ: SGC) (the “Company”) today announced that it will release the results of its operations for the fourth quarter and full year 2024 after the market close on Tuesday, March 11, 2025. Michael Benstock, Chief Executive Officer and Mike Koempel, Chief Financial Officer will host a teleconference at 5:00 pm Eastern Time that day to discuss the Company’s results. The live webcast and archived replay can be accessed i ...

– Designed to Expose Traditionally Underrepresented Groups to Public Company Corporate Governance – – SGC Doubles the Size of its Board Observer Program – – Ixchell Duarte and Tauana McDonald Named as Participants – ST. PETERSBURG, Fla., Feb. 06, 2025 (GLOBE NEWSWIRE) -- Superior Group of Companies, Inc. (NASDAQ:SGC), is pleased to announce the launch of the second year of its Board Observer Program and a doubling of the number of participants. In February 2024, SGC launched a program designed to provide go ...

ST. PETERSBURG, Fla., Feb. 06, 2025 (GLOBE NEWSWIRE) -- The Board of Directors of Superior Group of Companies, Inc. (NASDAQ: SGC) today announced that it has declared a quarterly dividend of $0.14 per share, payable February 28, 2025, to shareholders of record as of February 18, 2025. About Superior Group of Companies, Inc. (SGC):Established in 1920, Superior Group of Companies is comprised of three attractive business segments each serving large, fragmented and growing addressable markets. Across Healthcar ...

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Superior Group (SGC) closed the most recent trading day at $15.78, moving -0.5% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 1%. Meanwhile, the Dow gained 0.78%, and the Nasdaq, a tech-heavy index, added 1.51%.The uniform maker's shares have seen a decrease of 2.7% over the last month, surpassing the Consumer Discretionary sector's loss of 4.58% and falling behind the S&P 500's loss of 2.14%.Analysts and investors alike will be keeping a close eye on the ...