QEP Q1 revenue falls on lower non-core sales
Q
QEPC• Outlook
- Company did not provide specific guidance for current or future periods
Key details
| Metric | Actual |
|---|
| 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 |
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
Quarterly results
- 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
