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Sep 30, 2021
Rocky Brands Q3 2021 Earnings Report
Experienced fulfillment challenges in the Ohio distribution center, impacting the ability to deliver orders on time.
Key Takeaways
Rocky Brands, Inc. reported a 61.4% increase in net sales to $125.5 million for the third quarter ended September 30, 2021. The results reflect the impact of temporary fulfillment challenges in the company's Ohio distribution center. The company reported a net loss of $(0.4) million, or $(0.05) per diluted share, but adjusted net income was $2.5 million, or $0.34 per diluted share.
Net sales increased 61.4% to $125.5 million.
Wholesale segment sales increased 70.3%; Retail segment sales increased 35.3%.
Net loss of $(0.4) million, or $(0.05) per diluted share.
Adjusted net income of $2.5 million, or $0.34 per diluted share.
Revenue by Segment
Forward Guidance
The company is positioning the business for further market share gains and increased profitability despite a volatile operating environment. Fulfillment headwinds are limiting near-term growth potential.
Positive Outlook
- New distribution center in Reno, Nevada, went live in early October, improving shipping capacity ahead of the holiday season.
- Enviable inventory position.
- Relative insulation from industry-impacting global supply chain issues through Caribbean-based manufacturing facilities.
- Key competitive advantages are driving shelf space gains and new market opportunities.
- Excited to complete the integration of the Boston Group to unlock the earning power of combined organizations.
Challenges Ahead
- Temporary fulfillment challenges in the Ohio distribution center are hindering the ability to deliver a portion of orders on time.
- Near-term growth potential is being limited by fulfillment headwinds.
- Operating environment remains volatile.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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