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Mar 31, 2020
Xpel Q1 2020 Earnings Report
XPEL's revenue increased and gross margin improved in the first quarter of 2020.
Key Takeaways
XPEL reported a 14.8% increase in revenue to $28.4 million for the first quarter of 2020. Gross margin improved to 36.3%. Net income was $1.6 million or $0.06 per share.
Revenues increased 14.8% to $28.4 million compared to first quarter 2019.
Gross margin improved to 36.3% compared to 33.0% in the same quarter of 2019.
The Company incurred approximately $0.4 million in foreign currency exchange losses.
The Company posted strong revenue growth in most of its regions, with global revenue growth of 30% excluding China.
Forward Guidance
The company experienced the impact of COVID-19 early in the first quarter with its large China business, has taken aggressive steps to safeguard the team while managing through the crisis, has seen a rebound in its China business, and remains optimistic that it will see continued recovery in other regions coming out of the peak COVID-19 impact.
Positive Outlook
- Rebound in China business
- Optimism for continued recovery in other regions
Challenges Ahead
- Impact of COVID-19 early in the first quarter with large China business.
- Foreign currency exchange losses resulting from currency fluctuations late in the quarter in response to the spread of COVID-19.
- Net costs related to its annual XPEL Dealer Conference held in the first quarter this year but held in the second quarter last year.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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