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Jun 30, 2020
Weyco Q2 2020 Earnings Report
Weyco Group experienced significant sales volume losses and lower earnings due to the COVID-19 pandemic.
Key Takeaways
Weyco Group's second quarter results were significantly impacted by the COVID-19 pandemic, with net sales decreasing to $16.7 million compared to $60.5 million in the same quarter of the previous year. The company reported an operating loss of $13.0 million and a net loss of $8.9 million, with a diluted loss per share of $0.91.
Net sales for the second quarter of 2020 were $16.7 million, a decrease from $60.5 million in the second quarter of 2019.
The company experienced operating losses of $13.0 million, compared to operating earnings of $1.9 million in the prior year.
Net loss totaled $8.9 million, a sharp contrast to the $1.5 million net earnings in the second quarter of 2019.
Diluted loss per share was $0.91, compared to diluted earnings per share of $0.15 in the second quarter of 2019.
Revenue by Segment
Forward Guidance
Weyco Group is focused on cost management and liquidity during the challenging time. The company is taking measures to right-size its cost structure and believes its strong balance sheet and liquidity will enable it to withstand the economic effects of the current pandemic situation.
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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