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Dec 31, 2022
Weyco Q4 2022 Earnings Report
Weyco Group reported a decrease in net sales but an increase in gross earnings and operating earnings compared to the same quarter last year.
Key Takeaways
Weyco Group reported a decrease in net sales for the fourth quarter of 2022, but experienced an increase in gross earnings and operating earnings. The company's North American wholesale segment saw a decrease in net sales, while the retail segment achieved record net sales. The company's other operations, primarily Florsheim Australia, also saw an increase in net sales.
Consolidated net sales were $99.0 million, down 2% from Q4 2021.
Consolidated gross earnings increased to 46.6% of net sales compared to 40.2% in Q4 2021.
Operating earnings rose to a record $15.1 million, up 18% compared to Q4 2021.
Net earnings were $10.2 million, or $1.06 per diluted share, compared to $10.3 million, or $1.07 per diluted share, last year.
Revenue by Segment
Forward Guidance
The company's focus remains on investing in and developing its core brands, as well as improving the profitability of its business lines worldwide.
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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