Webco Industries Q3 revenue, gross profit margin rise
Webco Industries Q3 revenue, gross profit margin rise
Overview
U.S. steel tubing maker's fiscal Q3 revenue rose 16% yr/yr, net income increased
Gross profit margin for fiscal Q3 improved to 16.1% from 13.7% yr/yr
Company refreshed stock buyback program in March, authorizing up to $6 mln in repurchases
Outlook
Company did not provide specific guidance or forecasts for future quarters or fiscal year
Result Drivers
HIGHER PROFITABILITY COSTS - SG&A expenses increased due to higher profitability, leading to more incentive compensation and variable pay, as well as inflation in wages and other expenses
HIGHER INTEREST EXPENSE - Interest expense rose due to higher average debt balances than in the prior fiscal periods
CAPITAL SPENDING - Capital expenditures focused on plant equipment updates and improvements
Company press release: ID:nPn669sGMa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Sales |
| $179.60 mln |
|
Q3 EPS |
| $11.61 |
|
Q3 Net Income |
| $8 mln |
|
Q3 Capex |
| $6.10 mln |
|
Q3 Gross Profit |
| $29 mln |
|
Q3 Income from Operations |
| $10.80 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.)