2023 Q2 Form 10-Q Financial Statement

#000160392323000102 Filed on April 26, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q4
Revenue $1.274B $1.186B $1.209B
YoY Change 19.74% 26.44% 25.28%
Cost Of Revenue $847.0M $790.0M $807.0M
YoY Change 12.04% 15.84% 12.55%
Gross Profit $427.0M $396.0M $402.0M
YoY Change 38.64% 54.69% 62.1%
Gross Profit Margin 33.52% 33.39% 33.25%
Selling, General & Admin $158.0M $190.0M $165.0M
YoY Change -19.39% 6.74% 11.49%
% of Gross Profit 37.0% 47.98% 41.04%
Research & Development $27.00M $26.00M $24.00M
YoY Change 22.73% 23.81% 9.09%
% of Gross Profit 6.32% 6.57% 5.97%
Depreciation & Amortization $81.00M $80.00M $84.00M
YoY Change -10.0% -8.05% -18.45%
% of Gross Profit 18.97% 20.2% 20.9%
Operating Expenses $225.0M $216.0M $227.0M
YoY Change 3.21% 8.54% 8.61%
Operating Profit $202.0M $185.0M $175.0M
YoY Change 94.23% 927.78% 348.72%
Interest Expense -$88.00M -$31.00M -$39.00M
YoY Change 83.33% -35.42% -20.41%
% of Operating Profit -43.56% -16.76% -22.29%
Other Income/Expense, Net -$39.00M -$35.00M -$30.00M
YoY Change 21.88% 118.75% 200.0%
Pretax Income $74.00M $119.0M $97.00M
YoY Change 208.33% -358.7% -170.8%
Income Tax -$16.00M $38.00M $21.00M
% Of Pretax Income -21.62% 31.93% 21.65%
Net Earnings $82.00M $72.00M $72.00M
YoY Change 1266.67% -190.0% -144.72%
Net Earnings / Revenue 6.44% 6.07% 5.96%
Basic Earnings Per Share $1.14 $1.00
Diluted Earnings Per Share $1.12 $0.97 $0.96
COMMON SHARES
Basic Shares Outstanding 72.06M shares 70.89M shares 70.61M shares
Diluted Shares Outstanding 73.00M shares 74.00M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $787.0M $833.0M $910.0M
YoY Change -10.47% -0.95% -4.31%
Cash & Equivalents $787.0M $833.0M $910.0M
Short-Term Investments
Other Short-Term Assets $313.0M $253.0M $253.0M
YoY Change 14.23% -9.96% -16.5%
Inventory $751.0M $719.0M $689.0M
Prepaid Expenses
Receivables $1.120B $1.088B $989.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.971B $3.043B $3.043B
YoY Change -1.3% 5.33% 4.53%
LONG-TERM ASSETS
Property, Plant & Equipment $1.033B $919.0M $918.0M
YoY Change 10.01% -4.67% -7.83%
Goodwill
YoY Change
Intangibles $440.0M $474.0M $506.0M
YoY Change -24.01% -23.42% -22.98%
Long-Term Investments
YoY Change
Other Assets $177.0M $143.0M $138.0M
YoY Change 92.39% 53.76% 42.27%
Total Long-Term Assets $1.677B $1.666B $1.677B
YoY Change -2.78% -7.19% -9.98%
TOTAL ASSETS
Total Short-Term Assets $2.971B $3.043B $3.043B
Total Long-Term Assets $1.677B $1.666B $1.677B
Total Assets $4.648B $4.709B $4.720B
YoY Change -1.84% 0.53% -1.13%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $502.0M $502.0M $460.0M
YoY Change 12.05% 30.39% 21.05%
Accrued Expenses $335.0M $315.0M $411.0M
YoY Change -2.62% -0.63% 2.24%
Deferred Revenue $36.00M $52.00M $54.00M
YoY Change
Short-Term Debt $0.00 $120.0M $0.00
YoY Change -100.0% 823.08% -100.0%
Long-Term Debt Due $33.00M $120.0M $45.00M
YoY Change 135.71% 823.08% 275.0%
Total Short-Term Liabilities $1.464B $1.511B $1.470B
YoY Change 5.86% 16.23% 10.36%
LONG-TERM LIABILITIES
Long-Term Debt $1.993B $2.067B $2.203B
YoY Change -15.77% -14.45% -8.82%
Other Long-Term Liabilities $519.0M $154.0M $379.0M
YoY Change 284.44% 10.0% 174.64%
Total Long-Term Liabilities $2.512B $154.0M $379.0M
YoY Change 1760.74% 10.0% 174.64%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.464B $1.511B $1.470B
Total Long-Term Liabilities $2.512B $154.0M $379.0M
Total Liabilities $4.003B $4.123B $4.169B
YoY Change -5.68% -3.17% -2.55%
SHAREHOLDERS EQUITY
Retained Earnings -$2.217B -$2.299B -$2.371B
YoY Change -10.28% -7.19% -1.08%
Common Stock $2.891B $2.885B $2.928B
YoY Change -0.76% -0.79% 0.83%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $645.0M $567.0M $535.0M
YoY Change
Total Liabilities & Shareholders Equity $4.648B $4.709B $4.720B
YoY Change -1.84% 0.53% -1.13%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q4
OPERATING ACTIVITIES
Net Income $82.00M $72.00M $72.00M
YoY Change 1266.67% -190.0% -144.72%
Depreciation, Depletion And Amortization $81.00M $80.00M $84.00M
YoY Change -10.0% -8.05% -18.45%
Cash From Operating Activities $201.0M $84.00M $193.0M
YoY Change 235.0% -231.25% 119.32%
INVESTING ACTIVITIES
Capital Expenditures $36.00M $64.00M $49.00M
YoY Change -250.0% 220.0% -219.51%
Acquisitions $4.000M
YoY Change
Other Investing Activities -$22.00M $7.000M $17.00M
YoY Change -200.0% -177.78% -142.5%
Cash From Investing Activities -$58.00M -$64.00M -$32.00M
YoY Change 2800.0% -811.11% -60.49%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -170.0M -$127.0M -159.0M
YoY Change 750.0% 2440.0% -52.96%
NET CHANGE
Cash From Operating Activities 201.0M $84.00M 193.0M
Cash From Investing Activities -58.00M -$64.00M -32.00M
Cash From Financing Activities -170.0M -$127.0M -159.0M
Net Change In Cash -27.00M -$129.0M 2.000M
YoY Change -171.05% 126.32% -100.6%
FREE CASH FLOW
Cash From Operating Activities $201.0M $84.00M $193.0M
Capital Expenditures $36.00M $64.00M $49.00M
Free Cash Flow $165.0M $20.00M $144.0M
YoY Change 96.43% -123.81% 11.63%

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