2024 Q2 Form 10-Q Financial Statement

#000153080424000025 Filed on May 02, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $820.0M $774.0M
YoY Change 3.27% 9.32%
Cost Of Revenue $670.0M $654.0M
YoY Change 5.18% 13.74%
Gross Profit $150.0M $120.0M
YoY Change -4.46% -9.77%
Gross Profit Margin 18.29% 15.5%
Selling, General & Admin $74.00M $79.00M
YoY Change 13.85% 11.27%
% of Gross Profit 49.33% 65.83%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $57.00M $72.00M
YoY Change -16.18% 1.41%
% of Gross Profit 38.0% 60.0%
Operating Expenses $74.00M $79.00M
YoY Change 1.37% 11.27%
Operating Profit $76.00M $41.00M
YoY Change -9.52% -33.87%
Interest Expense -$36.00M $42.00M
YoY Change 0.0% 27.27%
% of Operating Profit -47.37% 102.44%
Other Income/Expense, Net $19.00M -$1.000M
YoY Change 280.0% -150.0%
Pretax Income $55.00M $2.000M
YoY Change 3.77% -94.12%
Income Tax $45.00M $11.00M
% Of Pretax Income 81.82% 550.0%
Net Earnings $16.00M -$9.000M
YoY Change -105.95% -139.13%
Net Earnings / Revenue 1.95% -1.16%
Basic Earnings Per Share $0.10 -$0.06
Diluted Earnings Per Share $0.10 -$0.06
COMMON SHARES
Basic Shares Outstanding 157.8M shares 156.8M shares
Diluted Shares Outstanding 159.3M shares 157.3M shares

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $201.0M $152.0M
YoY Change 20.36% 32.17%
Cash & Equivalents $201.0M $152.0M
Short-Term Investments
Other Short-Term Assets $210.0M $216.0M
YoY Change 44.83% 61.19%
Inventory $1.424B $1.403B
Prepaid Expenses
Receivables $382.0M $378.0M
Other Receivables $9.000M $10.00M
Total Short-Term Assets $2.226B $2.159B
YoY Change 6.81% 6.67%
LONG-TERM ASSETS
Property, Plant & Equipment $1.841B $1.804B
YoY Change -28.86% -0.88%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $126.0M $128.0M
YoY Change -88.92% -36.63%
Total Long-Term Assets $3.870B $3.863B
YoY Change -2.54% -10.89%
TOTAL ASSETS
Total Short-Term Assets $2.226B $2.159B
Total Long-Term Assets $3.870B $3.863B
Total Assets $6.096B $6.022B
YoY Change 0.68% -5.3%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $457.0M $398.0M
YoY Change 4.58% -2.93%
Accrued Expenses $243.0M $240.0M
YoY Change -6.18% -8.75%
Deferred Revenue $1.000M $1.000M
YoY Change 0.0% 0.0%
Short-Term Debt $0.00 $4.000M
YoY Change -100.0% -97.73%
Long-Term Debt Due $26.00M $27.00M
YoY Change 13.04% 12.5%
Total Short-Term Liabilities $746.0M $691.0M
YoY Change -20.64% -24.48%
LONG-TERM LIABILITIES
Long-Term Debt $2.781B $2.780B
YoY Change 13.51% 13.1%
Other Long-Term Liabilities $34.00M $38.00M
YoY Change -92.22% 15.15%
Total Long-Term Liabilities $34.00M $38.00M
YoY Change -98.82% 15.15%
TOTAL LIABILITIES
Total Short-Term Liabilities $746.0M $691.0M
Total Long-Term Liabilities $34.00M $38.00M
Total Liabilities $4.165B $4.097B
YoY Change 3.76% 3.46%
SHAREHOLDERS EQUITY
Retained Earnings $651.0M $655.0M
YoY Change -18.01% -39.52%
Common Stock $2.076B $2.072B
YoY Change 0.97% 1.02%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.898B $1.882B
YoY Change
Total Liabilities & Shareholders Equity $6.096B $6.022B
YoY Change 0.68% -5.3%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income $16.00M -$9.000M
YoY Change -105.95% -139.13%
Depreciation, Depletion And Amortization $57.00M $72.00M
YoY Change -16.18% 1.41%
Cash From Operating Activities $160.0M -$29.00M
YoY Change 17.65% -63.29%
INVESTING ACTIVITIES
Capital Expenditures $76.00M $76.00M
YoY Change 38.18% -18.28%
Acquisitions
YoY Change
Other Investing Activities $16.00M $0.00
YoY Change 1500.0% -100.0%
Cash From Investing Activities -$60.00M -$76.00M
YoY Change 11.11% -16.48%
FINANCING ACTIVITIES
Cash Dividend Paid $1.000M
YoY Change -50.0%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $5.000M
YoY Change 25.0%
Cash From Financing Activities -51.00M -$12.00M
YoY Change 82.14% -110.0%
NET CHANGE
Cash From Operating Activities 160.0M -$29.00M
Cash From Investing Activities -60.00M -$76.00M
Cash From Financing Activities -51.00M -$12.00M
Net Change In Cash 49.00M -$119.0M
YoY Change -9.26% 142.86%
FREE CASH FLOW
Cash From Operating Activities $160.0M -$29.00M
Capital Expenditures $76.00M $76.00M
Free Cash Flow $84.00M -$105.0M
YoY Change 3.7% -38.95%

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