QEP Q1 revenue falls on lower non-core sales

Q.E.P. CO INC

Q.E.P. CO INC

QEPC

0.00


Overview

  • US flooring installation products maker's fiscal Q1 revenue fell 0.9% yr/yr on lower non-core sales

  • Fiscal Q1 diluted EPS declined to $1.33 from $1.36 a year earlier

  • Company repurchased about $7 mln in common stock during the quarter


Outlook

  • Company did not provide specific guidance for current or future periods


Result Drivers

  • NON-CORE BUSINESS - Lower sales in the company's non-core powder business drove the decline in net sales

  • TARIFFS AND INFLATION - Gross margin declined due to higher tariff costs and ongoing inflationary pressures

  • TARIFF REFUNDS - Other income included $1 mln in cash refunds from U.S. Customs related to tariffs previously paid under IEEPA


Company press release: ID:nGNX2VSRRF


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q1 Sales

$60.96 mln

Q1 EPS

$1.33

Q1 Gross Profit

$21.75 mln

Q1 Operating Expenses

$16.47 mln

Q1 Operating Income

$5.28 mln

Q1 Pretax Profit

$5.47 mln


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