National Presto Q2 2024 Earnings Report
Key Takeaways
National Presto Industries reported increased sales and earnings for the second quarter of 2024, driven by a significant increase in the Defense segment's sales and operating earnings. However, the Housewares/Small Appliance segment experienced a decrease in operating profit due to higher costs.
Defense segment sales increased by $6.4 million, or 10.8%, due to higher shipments from backlog.
Housewares/Small Appliances segment sales decreased nominally by $269 thousand, or 1.4%.
Defense segment's operating earnings increased by $1.9 million, or 27.0%, due to increased volume, a favorable product mix, and improved efficiencies.
Housewares/Small Appliance segment's operating profit decreased by $695 thousand, or 81.6%, due to higher ocean shipping costs, a maintenance repair, and changes in accruals.
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National Presto Revenue by Segment
Forward Guidance
Forward looking statements are subject to risks, uncertainties and assumptions that could cause actual results to differ.