2024 Q2 Form 10-Q Financial Statement

#000167491024000065 Filed on May 10, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $421.4M $388.7M
YoY Change 12.01% 12.83%
Cost Of Revenue $253.9M $242.5M
YoY Change 12.59% 11.34%
Gross Profit $167.5M $146.2M
YoY Change 11.15% 15.39%
Gross Profit Margin 39.75% 37.61%
Selling, General & Admin $77.20M $72.30M
YoY Change 17.68% 15.5%
% of Gross Profit 46.09% 49.45%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $26.90M $25.60M
YoY Change 24.54% 24.27%
% of Gross Profit 16.06% 17.51%
Operating Expenses $77.20M $72.30M
YoY Change 17.68% 15.5%
Operating Profit $93.40M $76.40M
YoY Change 7.98% 24.84%
Interest Expense -$24.80M -$15.50M
YoY Change -639.13% 16.54%
% of Operating Profit -26.55% -20.29%
Other Income/Expense, Net -$200.0K -$1.100M
YoY Change -71.43% -59.26%
Pretax Income $65.20M $57.30M
YoY Change -25.4% 29.35%
Income Tax $17.00M $14.00M
% Of Pretax Income 26.07% 24.43%
Net Earnings $45.90M $41.40M
YoY Change -25.49% -96.63%
Net Earnings / Revenue 10.89% 10.65%
Basic Earnings Per Share $0.35 $0.32
Diluted Earnings Per Share $0.35 $0.32
COMMON SHARES
Basic Shares Outstanding 128.9M shares 129.6M shares
Diluted Shares Outstanding 130.2M shares 130.7M shares

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $65.70M $494.5M
YoY Change -93.09% -78.82%
Cash & Equivalents $65.70M $494.5M
Short-Term Investments $0.00 $0.00
Other Short-Term Assets $53.00M $59.80M
YoY Change 74.92% 106.21%
Inventory $40.20M $37.50M
Prepaid Expenses
Receivables $97.50M $109.6M
Other Receivables $0.00 $0.00
Total Short-Term Assets $256.4M $701.4M
YoY Change -76.41% -71.47%
LONG-TERM ASSETS
Property, Plant & Equipment $927.2M $877.9M
YoY Change 21.74% 21.51%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $209.0M $203.3M
YoY Change 7.46% 21.01%
Total Long-Term Assets $2.119B $2.062B
YoY Change 11.63% 13.13%
TOTAL ASSETS
Total Short-Term Assets $256.4M $701.4M
Total Long-Term Assets $2.119B $2.062B
Total Assets $2.376B $2.763B
YoY Change -20.43% -35.45%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $107.7M $118.8M
YoY Change 11.72% 38.46%
Accrued Expenses $219.9M $221.1M
YoY Change -23.06% -56.82%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $23.80M $623.8M
YoY Change 0.42% 2521.01%
Total Short-Term Liabilities $351.4M $963.7M
YoY Change -13.43% 55.04%
LONG-TERM LIABILITIES
Long-Term Debt $1.126B $951.3M
YoY Change -28.2% -39.54%
Other Long-Term Liabilities $353.9M $348.7M
YoY Change 26.71% 28.01%
Total Long-Term Liabilities $1.918B $1.739B
YoY Change -16.41% -23.93%
TOTAL LIABILITIES
Total Short-Term Liabilities $351.4M $963.7M
Total Long-Term Liabilities $1.918B $1.739B
Total Liabilities $2.269B $2.703B
YoY Change -15.96% -7.05%
SHAREHOLDERS EQUITY
Retained Earnings $46.30M $400.0K
YoY Change -79.16% -99.97%
Common Stock $1.300M $1.300M
YoY Change -7.14% -23.53%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $106.5M $60.10M
YoY Change
Total Liabilities & Shareholders Equity $2.376B $2.763B
YoY Change -20.43% -35.45%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income $45.90M $41.40M
YoY Change -25.49% -96.63%
Depreciation, Depletion And Amortization $26.90M $25.60M
YoY Change 24.54% 24.27%
Cash From Operating Activities $75.60M $68.30M
YoY Change -147.7% -42.51%
INVESTING ACTIVITIES
Capital Expenditures $65.80M $44.90M
YoY Change 41.51% 13.67%
Acquisitions
YoY Change
Other Investing Activities -$3.400M $103.2M
YoY Change -99.25% -96.07%
Cash From Investing Activities -$69.20M $58.30M
YoY Change -86.18% -97.74%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -434.8M -52.90M
YoY Change -62.13% -88.5%
NET CHANGE
Cash From Operating Activities 75.60M 68.30M
Cash From Investing Activities -69.20M 58.30M
Cash From Financing Activities -434.8M -52.90M
Net Change In Cash -428.4M 73.70M
YoY Change -76.3% -96.71%
FREE CASH FLOW
Cash From Operating Activities $75.60M $68.30M
Capital Expenditures $65.80M $44.90M
Free Cash Flow $9.800M $23.40M
YoY Change -104.78% -70.49%

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IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1000000.0 shares
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
130700000 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
172700000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
131700000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
174500000 shares
CY2024Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.33
CY2023Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.19
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.59
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.35
CY2024Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
-0.01
CY2023Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
6.96
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
-0.03
CY2024Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.33
CY2023Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.19
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.59
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.34
CY2024Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
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CY2023Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
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us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
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us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
7.16
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.32
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
7.11
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.56
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
7.50
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
100000 shares
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
300000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
200000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
200000 shares
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
494500000 usd
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
409100000 usd
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2334500000 usd
CY2024Q1 us-gaap Disposal Group Including Discontinued Operation Cash And Cash Equivalents
DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents
0 usd
CY2023Q3 us-gaap Disposal Group Including Discontinued Operation Cash And Cash Equivalents
DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents
4000000.0 usd
CY2023Q1 us-gaap Disposal Group Including Discontinued Operation Cash And Cash Equivalents
DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents
0 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
494500000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
413100000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2334500000 usd
CY2024Q1 vvv Accounts Receivable Trade Receivables Gross Current
AccountsReceivableTradeReceivablesGrossCurrent
94300000 usd
CY2023Q3 vvv Accounts Receivable Trade Receivables Gross Current
AccountsReceivableTradeReceivablesGrossCurrent
64000000.0 usd
CY2024Q1 us-gaap Notes And Loans Receivable Gross Current
NotesAndLoansReceivableGrossCurrent
6600000 usd
CY2023Q3 us-gaap Notes And Loans Receivable Gross Current
NotesAndLoansReceivableGrossCurrent
1600000 usd
CY2024Q1 vvv Accounts Receivable Other Receivables Current
AccountsReceivableOtherReceivablesCurrent
9100000 usd
CY2023Q3 vvv Accounts Receivable Other Receivables Current
AccountsReceivableOtherReceivablesCurrent
16300000 usd
CY2024Q1 vvv Current Receivables Gross
CurrentReceivablesGross
110000000.0 usd
CY2023Q3 vvv Current Receivables Gross
CurrentReceivablesGross
81900000 usd
CY2024Q1 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
400000 usd
CY2023Q3 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
600000 usd
CY2024Q1 us-gaap Receivables Net Current
ReceivablesNetCurrent
109600000 usd
CY2023Q3 us-gaap Receivables Net Current
ReceivablesNetCurrent
81300000 usd
CY2024Q1 vvv Notes Receivable Non Current
NotesReceivableNonCurrent
2400000 usd
CY2023Q3 vvv Notes Receivable Non Current
NotesReceivableNonCurrent
2300000 usd
CY2024Q1 vvv Other Receivables Noncurrent
OtherReceivablesNoncurrent
7800000 usd
CY2023Q3 vvv Other Receivables Noncurrent
OtherReceivablesNoncurrent
7500000 usd
CY2024Q1 vvv Notes Receivable Non Current Gross
NotesReceivableNonCurrentGross
10200000 usd
CY2023Q3 vvv Notes Receivable Non Current Gross
NotesReceivableNonCurrentGross
9800000 usd
CY2024Q1 us-gaap Accounts And Financing Receivable Allowance For Credit Loss
AccountsAndFinancingReceivableAllowanceForCreditLoss
2500000 usd
CY2023Q3 us-gaap Accounts And Financing Receivable Allowance For Credit Loss
AccountsAndFinancingReceivableAllowanceForCreditLoss
2400000 usd
CY2024Q1 us-gaap Long Term Accounts Notes And Loans Receivable Net Noncurrent
LongTermAccountsNotesAndLoansReceivableNetNoncurrent
7700000 usd
CY2023Q3 us-gaap Long Term Accounts Notes And Loans Receivable Net Noncurrent
LongTermAccountsNotesAndLoansReceivableNetNoncurrent
7400000 usd
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
388700000 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
344500000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
762100000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
677300000 usd
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
388700000 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
344500000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
762100000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
677300000 usd
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

Files In Submission

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0001674910-24-000065-index-headers.html Edgar Link pending
0001674910-24-000065-index.html Edgar Link pending
0001674910-24-000065.txt Edgar Link pending
0001674910-24-000065-xbrl.zip Edgar Link pending
exhibit311-certificationof.htm Edgar Link pending
exhibit312-certificationof.htm Edgar Link pending
exhibit32-certificationofl.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
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R1.htm Edgar Link pending
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vvv-20240331.xsd Edgar Link pending
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