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Aug 31, 2020
VOXX Q2 2021 Earnings Report
Reported a strong second quarter with increased revenue and operating income.
Key Takeaways
VOXX International Corporation reported a strong second quarter with a 42% increase in revenue year-over-year, reaching $128.0 million. The company also saw a significant improvement in operating income, which rose to $8.7 million, a $16.4 million year-over-year increase. Adjusted EBITDA was $13.9 million, a $14.8 million year-over-year improvement.
Revenue increased by approximately 42% year-over-year, reaching $128.0 million.
Operating income improved by $16.4 million year-over-year, reaching $8.7 million.
Adjusted EBITDA improved by $14.8 million year-over-year, reaching $13.9 million.
New OEM awards of over $400 million over the past three quarters were secured.
Revenue by Segment
Forward Guidance
The company anticipates year-over-year growth and increased profitability in the second half of Fiscal 2021.
Positive Outlook
- Premium audio product sales are growing and should increase significantly with expanded distribution.
- New alliance with Onkyo and Pioneer.
- New products coming to market.
- Aftermarket Automotive business is growing due to the acquisitions.
- Interest in EyeLock products continues to intensify.
Challenges Ahead
- Global car market remains challenged.
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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