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Dec 31, 2020
Weyco Q4 2020 Earnings Report
Weyco Group reported financial results for Q4 2020.
Key Takeaways
Weyco Group reported net sales of $62.0 million and net earnings of $5.1 million for the fourth quarter of 2020. Diluted earnings per share were $0.52. The company returned to profitability in the fourth quarter due to strategic decisions and cost-cutting measures.
Net sales were $62.0 million compared to $86.9 million in Q4 2019.
Earnings from operations totaled $7.9 million compared to $11.5 million in Q4 2019.
Net earnings totaled $5.1 million compared to $8.8 million in Q4 2019.
Diluted earnings per share were $0.52 per share versus $0.90 per share in Q4 2019.
Revenue by Segment
Forward Guidance
The company expects the first half of 2021 to be impacted by the pandemic, but hopes to see an improved retail environment and higher sales in the second half of the year. With new leaner operations and a strong balance sheet, the company believes it is well-positioned for growth and profitability as conditions improve.
Positive Outlook
- Rollout of vaccines may lead to an improved retail environment.
- Leaner operations due to cost-cutting measures.
- Strong balance sheet.
- Well-positioned for growth and profitability as conditions improve.
Challenges Ahead
- The first half of 2021 will continue to be impacted by the pandemic.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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