QEP Q1 revenue falls on lower non-core sales
QEP Q1 revenue falls on lower non-core sales
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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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)