2024 Q1 Form 10-K Financial Statement

#000153080424000009 Filed on February 21, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $774.0M $686.0M $2.850B
YoY Change 9.32% 5.7% -17.49%
Cost Of Revenue $654.0M $608.0M $2.388B
YoY Change 13.74% 11.76% -8.92%
Gross Profit $120.0M $78.00M $462.0M
YoY Change -9.77% -25.71% -44.47%
Gross Profit Margin 15.5% 11.37% 16.21%
Selling, General & Admin $79.00M $70.00M $276.0M
YoY Change 11.27% 1.45% -4.5%
% of Gross Profit 65.83% 89.74% 59.74%
Research & Development $12.00M
YoY Change 0.0%
% of Gross Profit 2.6%
Depreciation & Amortization $72.00M $69.00M $275.0M
YoY Change 1.41% 1.47% 2.23%
% of Gross Profit 60.0% 88.46% 59.52%
Operating Expenses $79.00M $70.00M $276.0M
YoY Change 11.27% 1.45% -8.31%
Operating Profit $41.00M $8.000M $186.0M
YoY Change -33.87% -77.78% -59.39%
Interest Expense $42.00M -$37.00M -$140.0M
YoY Change 27.27% 23.33% -212.0%
% of Operating Profit 102.44% -462.5% -75.27%
Other Income/Expense, Net -$1.000M -$3.000M $3.000M
YoY Change -150.0% -88.0% -123.08%
Pretax Income $2.000M -$32.00M $49.00M
YoY Change -94.12% 68.42% -84.09%
Income Tax $11.00M $24.00M $363.0M
% Of Pretax Income 550.0% 740.82%
Net Earnings -$9.000M -$56.00M -$316.0M
YoY Change -139.13% 273.33% -163.58%
Net Earnings / Revenue -1.16% -8.16% -11.09%
Basic Earnings Per Share -$0.06 -$2.02
Diluted Earnings Per Share -$0.06 -$0.36 -$2.02
COMMON SHARES
Basic Shares Outstanding 156.8M shares 156.8M shares 156.4M shares
Diluted Shares Outstanding 157.3M shares 156.4M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $152.0M $273.0M $273.0M
YoY Change 32.17% 66.46% 66.46%
Cash & Equivalents $152.0M $273.0M $273.0M
Short-Term Investments
Other Short-Term Assets $216.0M $141.0M $141.0M
YoY Change 61.19% 4.44% 4.44%
Inventory $1.403B $1.421B $1.421B
Prepaid Expenses
Receivables $378.0M $290.0M $290.0M
Other Receivables $10.00M $10.00M $10.00M
Total Short-Term Assets $2.159B $2.135B $2.135B
YoY Change 6.67% 8.93% 8.93%
LONG-TERM ASSETS
Property, Plant & Equipment $1.804B $2.621B $2.621B
YoY Change -0.88% 43.22% -1.72%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $128.0M $1.135B $1.135B
YoY Change -36.63% 479.08% -20.57%
Total Long-Term Assets $3.863B $3.999B $3.999B
YoY Change -10.89% -7.98% -7.98%
TOTAL ASSETS
Total Short-Term Assets $2.159B $2.135B $2.135B
Total Long-Term Assets $3.863B $3.999B $3.999B
Total Assets $6.022B $6.134B $6.134B
YoY Change -5.3% -2.73% -2.73%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $398.0M $461.0M $461.0M
YoY Change -2.93% -5.14% -5.14%
Accrued Expenses $240.0M $254.0M $254.0M
YoY Change -8.75% 0.79% -6.62%
Deferred Revenue $1.000M $1.000M
YoY Change 0.0% 0.0%
Short-Term Debt $4.000M $11.00M $11.00M
YoY Change -97.73% -78.0% -78.0%
Long-Term Debt Due $27.00M $27.00M $27.00M
YoY Change 12.5% 12.5% 12.5%
Total Short-Term Liabilities $691.0M $753.0M $753.0M
YoY Change -24.48% -11.41% -11.41%
LONG-TERM LIABILITIES
Long-Term Debt $2.780B $2.786B $2.786B
YoY Change 13.1% 13.07% 13.07%
Other Long-Term Liabilities $38.00M $466.0M $466.0M
YoY Change 15.15% 1312.12% 6.88%
Total Long-Term Liabilities $38.00M $3.252B $3.252B
YoY Change 15.15% 9754.55% 12.14%
TOTAL LIABILITIES
Total Short-Term Liabilities $691.0M $753.0M $753.0M
Total Long-Term Liabilities $38.00M $3.252B $3.252B
Total Liabilities $4.097B $4.198B $4.198B
YoY Change 3.46% 7.56% 6.31%
SHAREHOLDERS EQUITY
Retained Earnings $655.0M $684.0M
YoY Change -39.52% -36.67%
Common Stock $2.072B $2.066B
YoY Change 1.02% 1.03%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.882B $1.936B $1.936B
YoY Change
Total Liabilities & Shareholders Equity $6.022B $6.134B $6.134B
YoY Change -5.3% -2.73% -2.73%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$9.000M -$56.00M -$316.0M
YoY Change -139.13% 273.33% -163.58%
Depreciation, Depletion And Amortization $72.00M $69.00M $275.0M
YoY Change 1.41% 1.47% 2.23%
Cash From Operating Activities -$29.00M $110.0M $184.0M
YoY Change -63.29% -54.17% -69.23%
INVESTING ACTIVITIES
Capital Expenditures $76.00M $59.00M $261.0M
YoY Change -18.28% -48.25% -39.02%
Acquisitions
YoY Change
Other Investing Activities $0.00 $3.000M $6.000M
YoY Change -100.0% -70.0% -53.85%
Cash From Investing Activities -$76.00M -$56.00M -$255.0M
YoY Change -16.48% -46.15% -38.55%
FINANCING ACTIVITIES
Cash Dividend Paid $1.000M $89.00M
YoY Change -50.0% 2.3%
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net $5.000M $17.00M
YoY Change 25.0% -96.71%
Cash From Financing Activities -$12.00M -31.00M 176.0M
YoY Change -110.0% -53.03% -170.4%
NET CHANGE
Cash From Operating Activities -$29.00M 110.0M 184.0M
Cash From Investing Activities -$76.00M -56.00M -255.0M
Cash From Financing Activities -$12.00M -31.00M 176.0M
Net Change In Cash -$119.0M 23.00M 105.0M
YoY Change 142.86% -67.14% -254.41%
FREE CASH FLOW
Cash From Operating Activities -$29.00M $110.0M $184.0M
Capital Expenditures $76.00M $59.00M $261.0M
Free Cash Flow -$105.0M $51.00M -$77.00M
YoY Change -38.95% -59.52% -145.29%

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