Loading...
•
Oct 02, 2022
National Presto Q3 2022 Earnings Report
Announced third quarter sales and increased earnings.
Key Takeaways
National Presto Industries reported a decrease in sales by 20.1% due to reduced Defense shipments. However, net earnings increased by 116% due to improved performance in the Housewares/Small Appliance segment, which returned to profitability due to price increases and reduced ocean freight costs.
Sales decreased by 20.1% due to reduced Defense segment shipments.
Defense segment's sales decline reflected ongoing supply chain issues, particularly labor shortages.
Net earnings increased by 116% due to the Housewares/Small Appliance segment returning to profitability.
Improved portfolio earnings due to Federal Reserve Board's rate increases.
National Presto
National Presto
Forward Guidance
This release contains forward looking statements that are subject to risks and uncertainties, as well as assumptions, that could cause actual results to differ materially from historical results and those presently anticipated or projected. Other important risk factors are delineated in the Company’s various SEC filings.