2024 Q3 Form 10-Q Financial Statement

#000004828724000193 Filed on October 29, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2023 Q3
Revenue $672.2M $563.5M
YoY Change 19.29% -9.36%
Cost Of Revenue $393.4M $347.9M
YoY Change 13.08% -13.29%
Gross Profit $278.8M $215.5M
YoY Change 29.37% -2.31%
Gross Profit Margin 41.48% 38.24%
Selling, General & Admin $208.4M $211.0M
YoY Change -1.23% 11.23%
% of Gross Profit 74.75% 97.91%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $27.30M $22.60M
YoY Change 20.8% 6.1%
% of Gross Profit 9.79% 10.49%
Operating Expenses $208.4M $211.0M
YoY Change -1.23% 11.23%
Operating Profit $68.90M -$3.600M
YoY Change -2013.89% -112.04%
Interest Expense -$7.100M -$5.500M
YoY Change 29.09% 161.9%
% of Operating Profit -10.3%
Other Income/Expense, Net $100.0K
YoY Change
Pretax Income $61.80M -$9.000M
YoY Change -786.67% -132.37%
Income Tax $14.30M $3.800M
% Of Pretax Income 23.14%
Net Earnings $47.50M -$12.80M
YoY Change -471.09% -142.24%
Net Earnings / Revenue 7.07% -2.27%
Basic Earnings Per Share $1.00 -$0.30
Diluted Earnings Per Share $0.98 -$0.30
COMMON SHARES
Basic Shares Outstanding 47.70M shares 43.30M shares
Diluted Shares Outstanding 48.70M shares 43.30M shares

Balance Sheet

Concept 2024 Q3 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $40.20M $29.50M
YoY Change 36.27% 43.2%
Cash & Equivalents $34.30M $23.80M
Short-Term Investments $5.900M $5.700M
Other Short-Term Assets $52.40M $74.80M
YoY Change -29.95% -38.74%
Inventory $210.3M $234.8M
Prepaid Expenses
Receivables $258.8M $258.6M
Other Receivables $0.00 $0.00
Total Short-Term Assets $561.7M $597.7M
YoY Change -6.02% -4.32%
LONG-TERM ASSETS
Property, Plant & Equipment $539.5M $579.6M
YoY Change -6.92% 67.47%
Goodwill $442.1M $493.2M
YoY Change -10.36% 61.07%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $61.20M $60.40M
YoY Change 1.32% 9.62%
Total Long-Term Assets $1.352B $1.478B
YoY Change -8.54% 53.63%
TOTAL ASSETS
Total Short-Term Assets $561.7M $597.7M
Total Long-Term Assets $1.352B $1.478B
Total Assets $1.913B $2.076B
YoY Change -7.81% 30.81%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $431.3M $367.1M
YoY Change 17.49% 0.77%
Accrued Expenses $25.00M $23.80M
YoY Change 5.04% 16.1%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $50.90M $1.100M
YoY Change 4527.27% -35.29%
Total Short-Term Liabilities $514.3M $489.4M
YoY Change 5.09% -0.55%
LONG-TERM LIABILITIES
Long-Term Debt $294.5M $597.1M
YoY Change -50.68% 93.42%
Other Long-Term Liabilities $78.80M $79.30M
YoY Change -0.63% 1.02%
Total Long-Term Liabilities $373.3M $676.4M
YoY Change -44.81% 74.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $514.3M $489.4M
Total Long-Term Liabilities $373.3M $676.4M
Total Liabilities $1.066B $1.360B
YoY Change -21.61% 32.75%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $846.6M $715.0M
YoY Change
Total Liabilities & Shareholders Equity $1.913B $2.076B
YoY Change -7.81% 30.81%

Cashflow Statement

Concept 2024 Q3 2023 Q3
OPERATING ACTIVITIES
Net Income $47.50M -$12.80M
YoY Change -471.09% -142.24%
Depreciation, Depletion And Amortization $27.30M $22.60M
YoY Change 20.8% 6.1%
Cash From Operating Activities $128.5M $22.50M
YoY Change 471.11% 198.01%
INVESTING ACTIVITIES
Capital Expenditures $14.50M $21.00M
YoY Change -30.95% -240.34%
Acquisitions
YoY Change
Other Investing Activities -$300.0K -$369.8M
YoY Change -99.92% 4715.73%
Cash From Investing Activities -$14.80M -$390.8M
YoY Change -96.21% 1625.92%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -107.7M 375.2M
YoY Change -128.7% 3255.99%
NET CHANGE
Cash From Operating Activities 128.5M 22.50M
Cash From Investing Activities -14.80M -390.8M
Cash From Financing Activities -107.7M 375.2M
Net Change In Cash 6.000M 6.900M
YoY Change -13.04% -276.34%
FREE CASH FLOW
Cash From Operating Activities $128.5M $22.50M
Capital Expenditures $14.50M $21.00M
Free Cash Flow $114.0M $1.500M
YoY Change 7500.0% -93.34%

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CY2024Q3 us-gaap Income Tax Expense Benefit
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CY2024Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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11300000 usd
CY2024Q3 us-gaap Guarantee Obligations Current Carrying Value
GuaranteeObligationsCurrentCarryingValue
4000000 usd
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2024Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
672200000 usd
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
711600000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1883900000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1754200000 usd
CY2024Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
68900000 usd
CY2023Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
56800000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
151900000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
59600000 usd
CY2024Q3 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-7100000 usd
CY2023Q3 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-9400000 usd
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-22100000 usd
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-17500000 usd
CY2024Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
61800000 usd
CY2023Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
47400000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
129800000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
42100000 usd
CY2024Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
27300000 usd
CY2023Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
25600000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
80100000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
68300000 usd
CY2024Q3 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
14500000 usd
CY2023Q3 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
21600000 usd
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
43200000 usd
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
62800000 usd
CY2024Q3 us-gaap Assets
Assets
1913400000 usd
CY2023Q4 us-gaap Assets
Assets
1928800000 usd
CY2024Q3 us-gaap Supplier Finance Program Obligation Current
SupplierFinanceProgramObligationCurrent
34000000.0 usd
CY2023Q4 us-gaap Supplier Finance Program Obligation Current
SupplierFinanceProgramObligationCurrent
28400000 usd
CY2024Q3 us-gaap Restructuring Costs
RestructuringCosts
3400000 usd
CY2023Q3 us-gaap Restructuring Costs
RestructuringCosts
5600000 usd
us-gaap Restructuring Costs
RestructuringCosts
6200000 usd
us-gaap Restructuring Costs
RestructuringCosts
13900000 usd
CY2024Q3 us-gaap Restructuring Reserve
RestructuringReserve
3300000 usd
CY2023Q4 us-gaap Restructuring Reserve
RestructuringReserve
1800000 usd
us-gaap Payments For Restructuring
PaymentsForRestructuring
3000000.0 usd
us-gaap Payments For Restructuring
PaymentsForRestructuring
0 usd
CY2024Q3 us-gaap Restructuring And Related Cost Expected Cost Remaining1
RestructuringAndRelatedCostExpectedCostRemaining1
5400000 usd
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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