National Presto Q4 2023 Earnings Report
Key Takeaways
National Presto Industries, Inc. reported increased 2023 sales and earnings, with net consolidated sales increasing by $19.3 million or 6.0% to $340.9 million. Earnings were up $13.9 million or 67% to $34.6 million ($4.86 per share). The revenue increase was largely driven by the Defense segment.
Net consolidated sales increased by $19.3 million or 6.0% to $340.9 million.
Earnings increased by $13.9 million or 67% to $34.6 million ($4.86 per share).
Defense segment sales increased by $39.2 million or 19.4%.
Housewares/Small Appliance segment revenues decreased by $20.7 million or 17.5%.
National Presto
National Presto
National Presto Revenue by Segment
Forward Guidance
The Company also announced two recent Defense Segment awards totaling $44.2 million for 40mm cartridges in support of Ukraine and warheads for the Small Diameter Bomb program. Completion of both awards is scheduled to occur in 2024.
Positive Outlook
- Two recent Defense Segment awards totaling $44.2 million
- Awards for 40mm cartridges in support of Ukraine
- Awards for warheads for the Small Diameter Bomb program
- Completion of both awards is scheduled to occur in 2024
- The 2024 dividend consists of the regular dividend of $1.00 per share, plus an extra of $3.50.
Challenges Ahead
- forward looking statements are subject to certain risks and uncertainties
- actual results could differ materially from historical results
- risk factors are delineated in the Company’s various SEC filings
- Lower seasonal sales also played a major part.
- Difficulties in securing employees with the requisite technical skills and the need to meet new regulatory standards delayed the introduction of new products.
Revenue & Expenses
Visualization of income flow from segment revenue to net income