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Weyco Group Inc (WEYS)
NASDAQ:WEYS
Earnings Data
Report Date
May 06, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
―Last Year’s EPS
0.69Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Mar 04, 2025
|% Change Since: -12.51%
|Next Earnings Date:May 06, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mixed sentiment with record net earnings and growth in specific segments like Florsheim and the North American retail segment. However, significant challenges such as a decline in overall net sales, the impact of new tariffs, and underperformance in the BOGS brand and Florsheim Australia offset these achievements.Company Guidance
During the Weyco Group Fourth Quarter and Full Year 2024 Earnings Conference Call, the company reported flat net sales for the fourth quarter at $80.5 million and a 9% decline in full-year sales to $290 million compared to 2023. For the quarter, consolidated gross earnings were 47.9% of net sales, down from 50.3% the previous year. Despite a decrease in consolidated gross earnings for the fourth quarter, net earnings increased to $10 million, or $1.04 per diluted share, up from $8.5 million, or $0.90 per diluted share, in 2023. The North American wholesale segment experienced a 1% increase in net sales to $60.4 million, although wholesale gross earnings as a percentage of net sales decreased to 42.4% from 44.9% the previous year. The retail segment saw a 1% rise in net sales to $14.1 million, but retail operating earnings dropped 28% to $2.5 million due to increased expenses. Interest income rose to $900,000 from $500,000 in the prior year, and the provision for income taxes decreased by $700,000 due to a lower effective tax rate. The full year saw a record net earnings of $30.3 million or $3.16 per diluted share, with an increase in consolidated gross earnings to 45.3% of net sales from 44.9% in 2023. The company reported that its cash and marketable securities stood at $77.3 million at the end of 2024, with no debt on its $40 million revolving line of credit. Additionally, they announced a regular cash dividend of $0.26 per share payable on March 31, 2025. The company is addressing challenges such as new tariffs imposed by the US government, which will increase costs, and is negotiating price reductions with Chinese suppliers to counteract these tariffs.Record Net Earnings
Net earnings reached a record $30.3 million or $3.16 per diluted share in 2024, compared to $30.2 million or $3.17 per diluted share in 2023.
Increase in Gross Earnings
Consolidated gross earnings increased to 45.3% of net sales in 2024, up from 44.9% of net sales in the previous year.
North American Retail Segment Growth
Net sales in the North American retail segment were a record $38.7 million in 2024, up 2% over the previous record of $38 million in 2023.
Strong Performance of Florsheim Brand
Florsheim led the company's legacy business growth with a 22% increase in the fourth quarter and a 2% increase for the year.
Improved Wholesale Operating Earnings
Wholesale operating earnings increased 14% to $8.9 million for the quarter from $7.9 million due to higher sales and lower expenses.
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WEYS Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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WEYS Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Mar 04, 2025 | $32.46 | $31.89 | -1.76% |
| Nov 05, 2024 | $32.21 | $38.31 | +18.94% |
| Aug 06, 2024 | $28.81 | $28.57 | -0.83% |
| May 07, 2024 | $26.53 | $25.90 | -2.37% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Weyco Group Inc (WEYS) report earnings?
Weyco Group Inc (WEYS) is schdueled to report earning on May 06, 2025, TBA Not Confirmed.
What is Weyco Group Inc (WEYS) earnings time?
Weyco Group Inc (WEYS) earnings time is at May 06, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is WEYS EPS forecast?
Currently, no data Available
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