2024 Q3 Form 10-Q Financial Statement

#000089541724000092 Filed on July 30, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2023 Q2
Revenue $385.1M $377.4M $367.5M
YoY Change -0.96% 2.68% 0.61%
Cost Of Revenue $192.0M $193.3M $189.7M
YoY Change -3.65% 1.91% -2.01%
Gross Profit $193.1M $184.1M $177.9M
YoY Change 3.12% 3.5% 5.17%
Gross Profit Margin 50.15% 48.78% 48.39%
Selling, General & Admin $23.06M $22.58M $29.30M
YoY Change 47.89% -22.92% 61.83%
% of Gross Profit 11.94% 12.27% 16.47%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $50.93M $51.34M $52.81M
YoY Change -2.6% -2.78% 1.69%
% of Gross Profit 26.38% 27.89% 29.69%
Operating Expenses $75.39M $75.31M $82.14M
YoY Change 383.57% -8.31% 353.73%
Operating Profit $117.7M $108.8M $95.73M
YoY Change -31.43% 13.64% -36.62%
Interest Expense -$34.31M -$33.41M -$30.65M
YoY Change 10.3% 9.0% 20.49%
% of Operating Profit -29.14% -30.71% -32.02%
Other Income/Expense, Net $1.402M $1.387M $1.381M
YoY Change 4.78% 0.43% -67.03%
Pretax Income $80.99M $81.55M $65.08M
YoY Change 1.14% 25.31% 2.75%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income 0.0% 0.0% 0.0%
Net Earnings $82.82M $78.30M $62.92M
YoY Change 2.58% 24.44% -2.59%
Net Earnings / Revenue 21.51% 20.75% 17.12%
Basic Earnings Per Share $0.44 $0.42 $0.34
Diluted Earnings Per Share $0.42 $0.40 $0.32
COMMON SHARES
Basic Shares Outstanding 186.5M shares 186.5M shares 186.2M shares
Diluted Shares Outstanding 195.5M shares 195.5M shares 195.4M shares

Balance Sheet

Concept 2024 Q3 2024 Q2 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $40.40M $35.66M $7.407M
YoY Change 4.98% 381.41% -55.45%
Cash & Equivalents $40.40M $35.66M $28.11M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $40.40M $35.66M $7.407M
YoY Change 4.98% 381.41% -55.45%
LONG-TERM ASSETS
Property, Plant & Equipment $5.264B $5.261B $5.219B
YoY Change 0.3% 0.8% 2.89%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $84.83M $86.44M $82.42M
YoY Change 0.6% 4.87% -2.01%
Other Assets $56.05M $54.88M $72.68M
YoY Change -24.64% -24.49% -2.58%
Total Long-Term Assets $5.604B $5.610B $5.579B
YoY Change 0.28% 0.56% 3.63%
TOTAL ASSETS
Total Short-Term Assets $40.40M $35.66M $7.407M
Total Long-Term Assets $5.604B $5.610B $5.579B
Total Assets $5.644B $5.645B $5.586B
YoY Change 0.32% 1.06% 3.45%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $207.6M $177.8M $146.0M
YoY Change 27.45% 21.83% -7.13%
Accrued Expenses $11.99M $11.98M $39.21M
YoY Change -68.85% -69.45% 2.31%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $313.0M $283.2M $272.6M
YoY Change 8.35% 3.87% -1.14%
LONG-TERM LIABILITIES
Long-Term Debt $3.474B $3.471B $3.451B
YoY Change -0.8% 0.59% 5.59%
Other Long-Term Liabilities $361.2M $380.5M $359.2M
YoY Change 6.88% 5.93% 7.6%
Total Long-Term Liabilities $3.836B $3.852B $3.810B
YoY Change -0.13% 1.1% 5.78%
TOTAL LIABILITIES
Total Short-Term Liabilities $313.0M $283.2M $272.6M
Total Long-Term Liabilities $3.836B $3.852B $3.810B
Total Liabilities $4.218B $4.206B $4.154B
YoY Change 2.16% 1.24% 7.12%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $1.650B $1.648B $1.640B
YoY Change 0.42% 0.48% 0.95%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.426B $1.440B $1.432B
YoY Change
Total Liabilities & Shareholders Equity $5.644B $5.645B $5.586B
YoY Change 0.32% 1.06% 3.45%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2023 Q2
OPERATING ACTIVITIES
Net Income $82.82M $78.30M $62.92M
YoY Change 2.58% 24.44% -2.59%
Depreciation, Depletion And Amortization $50.93M $51.34M $52.81M
YoY Change -2.6% -2.78% 1.69%
Cash From Operating Activities $149.5M $143.1M $72.37M
YoY Change -1.52% 97.79% -59.15%
INVESTING ACTIVITIES
Capital Expenditures $58.40M $62.55M $52.92M
YoY Change -29.06% 18.19% -127.29%
Acquisitions
YoY Change
Other Investing Activities $11.10M $9.236M $1.246M
YoY Change -794.87% 641.25% -142.02%
Cash From Investing Activities -$47.30M -$53.31M -$51.68M
YoY Change -43.63% 3.17% -73.75%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -97.49M -101.4M -23.24M
YoY Change 168.22% 336.46% -196.67%
NET CHANGE
Cash From Operating Activities 149.5M 143.1M 72.37M
Cash From Investing Activities -47.30M -53.31M -51.68M
Cash From Financing Activities -97.49M -101.4M -23.24M
Net Change In Cash 4.740M -11.62M -2.554M
YoY Change -84.99% 355.09% -159.31%
FREE CASH FLOW
Cash From Operating Activities $149.5M $143.1M $72.37M
Capital Expenditures $58.40M $62.55M $52.92M
Free Cash Flow $91.13M $80.58M $19.44M
YoY Change 31.09% 314.48% -94.76%

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LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
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CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
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CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
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CY2024Q2 us-gaap Operating Lease Right Of Use Asset
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24300000 usd
CY2024Q2 us-gaap Operating Lease Liability
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OperatingLeaseWeightedAverageDiscountRatePercent
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62920000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
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188202000 usd
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145291000 usd
CY2024Q2 us-gaap Dilutive Securities
DilutiveSecurities
3822000 usd
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DilutiveSecurities
3121000 usd
us-gaap Dilutive Securities
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DilutiveSecurities
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CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
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66041000 usd
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197390000 usd
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186318000 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
186023000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
186303000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2024Q2 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
9105000 shares
CY2023Q2 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
9240000 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
9105000 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
9251000 shares
CY2024Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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42000 shares
CY2023Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
167000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
97000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
175000 shares
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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195465000 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
195430000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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195505000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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195388000 shares
CY2024Q2 us-gaap Earnings Per Share Basic
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0.42
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CY2024Q2 us-gaap Earnings Per Share Diluted
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0.42
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EarningsPerShareDiluted
0.34
us-gaap Earnings Per Share Diluted
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1.01
us-gaap Earnings Per Share Diluted
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us-gaap Stock Issued During Period Shares Conversion Of Units
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25496 shares
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CY2024Q2 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
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86439000 usd
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us-gaap Income Loss From Equity Method Investments
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862000 usd
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1497000 usd
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CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8600000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3500000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
11100000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
11100000 usd
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Accelerated Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardAcceleratedCompensationCost
6300000 usd
us-gaap Number Of Reportable Segments
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CY2024Q2 us-gaap Profit Loss
ProfitLoss
82127000 usd
CY2024Q2 us-gaap Assets
Assets
5645475000 usd
CY2024Q2 us-gaap Segment Expenditure Addition To Long Lived Assets
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CY2023Q2 us-gaap Profit Loss
ProfitLoss
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CY2023Q2 us-gaap Assets
Assets
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CY2023Q2 us-gaap Segment Expenditure Addition To Long Lived Assets
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CY2024Q2 us-gaap Assets
Assets
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117231000 usd
us-gaap Profit Loss
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CY2023Q2 us-gaap Assets
Assets
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us-gaap Segment Expenditure Addition To Long Lived Assets
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CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
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CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
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CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
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false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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