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Dec 31, 2022
Xpel Q4 2022 Earnings Report
XPEL's revenue increased by 11.9% in Q4 2022, with net income rising by 34.7%.
Key Takeaways
XPEL reported an 11.9% increase in revenue for Q4 2022, reaching $78.5 million. Net income saw a substantial increase of 34.7%, amounting to $8.4 million, or $0.30 per share. The company's performance was impacted by approximately $3.5 million due to canceled China orders and $0.4 million in inventory write-offs.
Revenue increased 11.9% to $78.5 million compared to Q4 2021.
Net income increased 34.7% to $8.4 million, or $0.30 per share.
EBITDA grew 32.4% to $13.2 million, representing 16.8% of revenue.
US grew 31.6% in the quarter.
Forward Guidance
XPEL anticipates continued momentum in most regions, particularly in the US, with cautious optimism from automakers and improving new car inventories for 2023. The company is off to a great start in 2023.
Positive Outlook
- Tremendous momentum in almost all regions.
- US grew 31.6% in the quarter.
- Automakers seem cautiously optimistic about 2023.
- New car inventories continue to improve.
- Off to a great start in 2023.
Challenges Ahead
- Revenue was negatively impacted by approximately $3.5 million due to the cancellation of some China orders.
- Uncertainty created by the change in COVID policies and China’s reopening.
- Company incurred approximately $0.4 million in inventory write-offs which negatively impacted gross margin.
- Selling, general and administrative expenses were negatively impacted by approximately $0.3 million in severance-related costs.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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