NEW YORK, Aug. 11, 2024 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against XPEL, Inc. ("XPEL" or "the Company") (NASDAQ: XPEL) and certain of its officers. Class Definition This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired XPEL securities betw ...

NEW YORK, Aug. 10, 2024 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of all purchasers of securities of XPEL, Inc. (NASDAQ: XPEL) between November 8, 2023 and May 2, 2024, both dates inclusive (the "Class Period"). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than October 7, 2024. SO WHAT: If you purchased XPEL common stock during the Class Period ...

Financial Data and Key Metrics - Q2 2024 revenue grew 7.5% to $109.9 million, with the U.S. business growing nearly 10% to $64.9 million [4] - Gross margin for the quarter was 43.5%, with some downward pressure expected as China returns to normal levels [12] - SG&A expenses grew 20.5% to $28.7 million, representing 26.1% of revenue [12][20] - EBITDA declined 2.7% to $21.8 million, with an EBITDA margin of 19.9% [21] - Net income declined 4.5% to $15 million, reflecting a net income margin of 13.7% and EPS of $0.54 per share [21] - Cash flow performance was strong at $26.9 million, driven by inventory management improvements [14][21] Business Line Performance - The dealership business grew over 30% for the quarter, with minimal impact from the CDK software issue [5] - China revenue declined 45.7% to $4.4 million due to sell-in vs sell-through dynamics, but a new product line showed promise [6] - Rest of the world revenue, excluding the U.S. and China, grew 16.1%, with Continental Europe growing 17.2% [7] - Window film product line revenue grew 8.4% to $22 million, representing 20% of total revenue [18] - OEM revenue grew 23.6% and represented 4.1% of total revenue [19] - Installation revenue, combining product and service, grew 33.9% and represented 21% of total revenue [19] Market Performance - The U.S. market showed a significant improvement, growing nearly 10% in Q2 after a 1.9% growth in Q1 [4][18] - China's revenue decline was attributed to inventory management and product line adjustments, with expectations for stabilization [6][7] - Continental Europe grew 17.2%, slightly lower than previous quarters, but the market is still in its infancy [7] Strategic Direction and Industry Competition - The company launched a windshield protection film, expected to drive higher content per vehicle and attract new customers [9] - A new OEM and partner referral program was introduced, leveraging the independent installer network to reach new customers [10][11] - Two acquisitions were completed: Protective Film Solutions (PFS) in the U.S. and a distributor in India, with plans for more acquisitions in Asia and Latin America [15][16] - The company is decentralizing European OEM operations to improve competitiveness and capacity [17] Management Commentary on Operating Environment and Future Outlook - Management remains optimistic about achieving the full-year revenue growth guidance of 8% to 10%, despite macro uncertainties [8] - June and July were record revenue months, with expectations for Q3 revenue to be between $112 million and $114 million [8] - The company is focused on optimizing SG&A spend and leveraging investments in product quality and manufacturing teams [12][13] - Inventory management improvements are expected to continue driving strong cash flow [14][21] Other Important Information - The company launched a pilot program with a new OEM, with interest from several others, to refer customers to XPEL's e-commerce site [10][11] - The marine market is identified as an adjacent opportunity, with plans to expand offerings through the PFS acquisition [15] - The company is actively working to reduce inventory days on hand and improve cash conversion cycles [14][21] Q&A Session Summary Question: OEM Business and Rivian Promotion - The promotion with Rivian for free XPEL wraps was well-received and successful, with potential for similar programs in the future [22][23] - The OEM referral program is seen as a tool to bridge the gap between consumers and the aftermarket, with applications across various OEMs [24][25][26] Question: Product Trends and Windshield Film - Interest in matte films, including Stealth, continues to grow across multiple OEMs, not just Rivian [27][28] - The windshield film is designed for damage protection, with a strong value proposition due to rising windshield costs [29] Question: Revenue Guidance and New Product Impact - Revenue guidance is based on current customer performance, with new products and programs seen as upside potential rather than core drivers [31] Question: China Market and Product Strategy - The company is adapting its product strategy for low labor cost markets like China, Southeast Asia, and India, with lessons from China influencing other markets [32][33][34] Question: Vehicle Coverage Trends - The trend in the U.S. is toward more PPF film per car in the aftermarket, while dealerships focus on getting smaller amounts of film on more vehicles [35][36] Closing Remarks - Management thanked the team for their hard work and expressed optimism for continued momentum [39][40]

NEW YORK, Aug. 9, 2024 /PRNewswire/ -- Why: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of all purchasers of securities of XPEL, Inc. (NASDAQ: XPEL) between November 8, 2023 and May 2, 2024, both dates inclusive (the "Class Period"). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than October 7, 2024. So what: If you purchased XPEL common stock during the Class Period you ...

NEW YORK, Aug. 09, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against XPEL, Inc. ("XPEL" or the "Company") (NASDAQ: XPEL) in the United States District Court for the Western District of Texas on behalf of all persons and entities who purchased or otherwise acquired XPEL securities between November 8, 2023 and May 2, 2024, both dates inclusive (the "Class Period"). Investors have until October ...

NEW YORK, Aug. 9, 2024 /PRNewswire/ -- Pomerantz LLP announces that a class action lawsuit has been filed against XPEL, Inc. ("XPEL" or the "Company") (NASDAQ: XPEL). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased. The class action concerns whether XPEL and certain of its officers and/or directo ...

NEW YORK, Aug. 09, 2024 (GLOBE NEWSWIRE) -- Attorney Advertising--Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of XPEL, Inc. ("XPEL" or "the Company") (NASDAQ: XPEL). Investors who purchased XPEL securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: bgandg.com/XPEL. Investigation Details On May 2, 2024, XPEL released its financial results for the first quarter. The Company missed analyst targets on ...

ATLANTA, Aug. 09, 2024 (GLOBE NEWSWIRE) -- A shareholder class action lawsuit has been filed against XPEL, Inc. ("XPEL," or the "Company") (NASDAQ: XPEL). The lawsuit alleges that Defendants made materially false and misleading statements, and/or failed to disclose material adverse facts regarding the Company's business, operations, and prospects, including allegations that: (i) XPEL's competitors were siphoning an increasingly large segment of the market; (ii) as a result, the Company's revenue growth beca ...

SAN DIEGO, Aug. 09, 2024 (GLOBE NEWSWIRE) -- Robbins LLP informs investors that a shareholder filed a class action on behalf of all persons and entities that purchased or otherwise acquired XPEL Inc. (NASDAQ: XPEL) securities between November 8, 2023 and May 2, 2024. XPEL supplies automotive paint protection film, automotive window film, ceramic coatings, architectural window film products, and related tools and equipment to support the installation of these products. For more information, submit a form, em ...

XPEL, Inc. (XPEL) came out with quarterly earnings of $0.54 per share, beating the Zacks Consensus Estimate of $0.44 per share. This compares to earnings of $0.57 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 22.73%. A quarter ago, it was expected that this company would post earnings of $0.26 per share when it actually produced earnings of $0.24, delivering a surprise of -7.69%. Over the last four quarters, the company has ...