Superior of panies(SGC) - 2025 Q3 - Quarterly Results

Financial Performance - Total net sales for Q3 2025 were $138.5 million, a decrease of 7.9% from $149.7 million in Q3 2024[1][3] - Net income for Q3 2025 was $2.7 million, down 50% from $5.4 million in Q3 2024, resulting in diluted earnings per share of $0.18 compared to $0.33[1][3] - EBITDA for Q3 2025 was $7.5 million, a decline of 36% from $11.7 million in the same quarter last year[1][3] - Net income for the nine months ended September 30, 2025, was $3,537,000, a decrease from $9,915,000 in the same period of 2024[17] - EBITDA for the nine months ended September 30, 2025, was $17,147,000, compared to $26,844,000 for the same period in 2024, reflecting a decline of approximately 36%[19] - Total net sales for the nine months ended September 30, 2025, were $419,609,000, slightly down from $420,268,000 in 2024[22] - The gross margin for the nine months ended September 30, 2025, was $158,845,000, compared to $166,618,000 in 2024, indicating a decrease of about 4.7%[22] - Cash flows from operating activities for the nine months ended September 30, 2025, were $1,270,000, significantly lower than $24,497,000 in 2024[17] - The company reported a net cash decrease of $2,115,000 for the nine months ended September 30, 2025, compared to a decrease of $1,523,000 in 2024[17] Cost Management - Selling, general and administrative expenses (SG&A) were reduced to $48.5 million in Q3 2025 from $52.4 million in Q3 2024, indicating improved cost management[2][3] Dividends and Shareholder Value - The Board of Directors declared a quarterly dividend of $0.14 per share, consistent with the previous quarter[1][4] - The company emphasized its commitment to long-term shareholder value through strategic investments and maintaining a strong balance sheet[2][10] Balance Sheet and Liabilities - Total current assets increased to $280.0 million as of September 30, 2025, compared to $273.1 million at the end of 2024[1][15] - Total liabilities rose to $221.4 million as of September 30, 2025, compared to $216.3 million at the end of 2024[1][15] - Borrowings under revolving lines of credit increased to $76,000,000 in 2025 from $31,000,000 in 2024[17] Share Repurchase and Credit Loss - The company repurchased and retired common shares worth $7,928,000 during the nine months ended September 30, 2025, compared to $6,346,000 in 2024[17] - The company experienced a credit loss expense of $2,347,000 for the nine months ended September 30, 2025, compared to $251,000 in 2024[17] Outlook - The full-year revenue outlook has been updated to a range of $560 million to $570 million, down from the previous range of $550 million to $575 million[1][5] - The EBITDA margin for the nine months ended September 30, 2025, was 4.1%, down from 6.4% in 2024[19] - The company reported pretax earnings of $3.2 million for Q3 2025, compared to $6.6 million in Q3 2024, reflecting a significant decline[1][3]