$SVV
Savers Value Village, Inc.

2024 Q3 Form 10-Q Financial Statement

#000188331324000037 Filed on August 09, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $394.8M $386.7M
YoY Change 4.14% 11.85%
Cost Of Revenue $170.8M $162.6M
YoY Change 10.25% 11.54%
Gross Profit $101.0M $102.7M
YoY Change -10.71% -48.64%
Gross Profit Margin 25.58% 26.55%
Selling, General & Admin $83.90M $83.49M
YoY Change 14.52% -50.8%
% of Gross Profit 83.06% 81.31%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $17.30M $17.38M
YoY Change 17.72% 19.86%
% of Gross Profit 17.13% 16.93%
Operating Expenses $83.90M $83.49M
YoY Change 14.52% -54.65%
Operating Profit $48.64M $32.22M
YoY Change -29.37% 103.9%
Interest Expense -$15.47M -$15.77M
YoY Change -33.34% -32.04%
% of Operating Profit -31.8% -48.94%
Other Income/Expense, Net -$13.19M -$16.21M
YoY Change -42.18% 8005.5%
Pretax Income $35.45M $16.01M
YoY Change -23.02% -217.68%
Income Tax $13.77M $6.293M
% Of Pretax Income 38.84% 39.32%
Net Earnings $21.68M $9.712M
YoY Change -38.14% -195.22%
Net Earnings / Revenue 5.49% 2.51%
Basic Earnings Per Share $0.13 $0.06
Diluted Earnings Per Share $0.13 $0.06
COMMON SHARES
Basic Shares Outstanding 160.7M shares 161.8M shares
Diluted Shares Outstanding 165.7M shares 168.0M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $137.7M $160.7M
YoY Change 23.4% 72.74%
Cash & Equivalents $137.7M $160.7M
Short-Term Investments
Other Short-Term Assets $32.76M $38.38M
YoY Change -50.82% -17.47%
Inventory $39.64M $37.55M
Prepaid Expenses
Receivables $15.69M $13.67M
Other Receivables $0.00 $0.00
Total Short-Term Assets $225.8M $250.3M
YoY Change 2.01% 40.59%
LONG-TERM ASSETS
Property, Plant & Equipment $814.5M $791.3M
YoY Change 289.34% 23.19%
Goodwill $682.1M $678.9M
YoY Change -0.78%
Intangibles $163.4M $165.0M
YoY Change -3.07%
Long-Term Investments
YoY Change
Other Assets $3.819M $3.876M
YoY Change 0.82% -88.25%
Total Long-Term Assets $1.664B $1.639B
YoY Change 6.53% 7.34%
TOTAL ASSETS
Total Short-Term Assets $225.8M $250.3M
Total Long-Term Assets $1.664B $1.639B
Total Assets $1.890B $1.889B
YoY Change 5.97% 10.81%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $80.79M $106.1M
YoY Change -22.32% 33.45%
Accrued Expenses $129.4M $131.0M
YoY Change 1.18% 9.3%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $6.000M $6.000M
YoY Change -54.89% -84.33%
Total Short-Term Liabilities $216.2M $243.1M
YoY Change -11.79% 2.33%
LONG-TERM LIABILITIES
Long-Term Debt $735.3M $735.6M
YoY Change -31.89% -31.9%
Other Long-Term Liabilities $22.39M $23.87M
YoY Change 66.18% -93.74%
Total Long-Term Liabilities $757.7M $759.5M
YoY Change -30.68% -48.03%
TOTAL LIABILITIES
Total Short-Term Liabilities $216.2M $243.1M
Total Long-Term Liabilities $757.7M $759.5M
Total Liabilities $1.457B $1.470B
YoY Change -18.88% -16.17%
SHAREHOLDERS EQUITY
Retained Earnings -$237.5M -$241.6M
YoY Change -13.87%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $432.9M $419.5M
YoY Change
Total Liabilities & Shareholders Equity $1.890B $1.889B
YoY Change 5.97% 10.81%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $21.68M $9.712M
YoY Change -38.14% -195.22%
Depreciation, Depletion And Amortization $17.30M $17.38M
YoY Change 17.72% 19.86%
Cash From Operating Activities $23.88M $60.37M
YoY Change -65.19% -507.88%
INVESTING ACTIVITIES
Capital Expenditures $26.86M $30.79M
YoY Change 1.75% 48.03%
Acquisitions
YoY Change
Other Investing Activities -$275.0K $25.34M
YoY Change -375.0% -25439.0%
Cash From Investing Activities -$27.14M -$5.451M
YoY Change 3.58% -73.92%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -20.61M 4.086M
YoY Change -18.86% -75.39%
NET CHANGE
Cash From Operating Activities 23.88M 60.37M
Cash From Investing Activities -27.14M -5.451M
Cash From Financing Activities -20.61M 4.086M
Net Change In Cash -23.87M 59.00M
YoY Change -240.41% -408.91%
FREE CASH FLOW
Cash From Operating Activities $23.88M $60.37M
Capital Expenditures $26.86M $30.79M
Free Cash Flow -$2.985M $29.58M
YoY Change -107.07% -183.08%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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<div style="margin-top:12pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of estimates</span></div><div style="margin-top:6pt;text-indent:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of these unaudited interim condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting periods. These estimates are based on available information and on various other assumptions that are believed to be reasonable under the circumstances. Certain items subject to such estimates and assumptions include, but are not limited to, the valuation of insurance reserves, the valuation of intangibles, the valuation of goodwill, income taxes and stock-based compensation. Actual results could vary from those estimates under different assumptions or conditions.</span></div>
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OtherNonoperatingIncomeExpense
434000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
390000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
218000 usd
CY2024Q2 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 usd
CY2023Q3 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-4088000 usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-6011000 usd
CY2024Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
16005000 usd
CY2023Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
46050000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
11046000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
32418000 usd
CY2024Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
6293000 usd
CY2023Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
11000000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1801000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
7563000 usd
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
9712000 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
35050000 usd
us-gaap Net Income Loss
NetIncomeLoss
9245000 usd
us-gaap Net Income Loss
NetIncomeLoss
24855000 usd
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
9712000 usd
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
161788000 shares
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
141712000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
161518000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
141705000 shares
CY2024Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
6222000 shares
CY2023Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
4462000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
6502000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
4553000 shares
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
168010000 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
146174000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
168020000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
146258000 shares
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.06
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.25
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.06
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.18
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.06
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.24
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.06
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.17
CY2024Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3500000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2400000 shares
CY2023Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
40800000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1900000 usd
us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
300000 shares
CY2024Q2 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
300000 shares
CY2024Q2 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
3300000 usd
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
3300000 usd
CY2024Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
46700000 usd
CY2024Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.393
CY2023Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.239
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.163
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.233
CY2024Q2 us-gaap Prepaid Taxes
PrepaidTaxes
17100000 usd
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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