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Weyco Group Inc (WEYS)
NASDAQ:WEYS
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Earnings Data
Report Date
Mar 11, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
―Last Year’s EPS
0.9Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 06, 2018
|% Change Since: 8.55%
|Next Earnings Date:Aug 07, 2018
Earnings Call Sentiment|Negative
The earnings call highlighted some positive aspects such as the increase in gross margins, interest income growth, and Florsheim brand performance. However, these were overshadowed by significant declines in overall net sales, wholesale and retail segment earnings, and challenges in the outdoor market affecting BOGS and Forsake brands. The declaration of a special dividend indicates strong financial health despite current market challenges.Company Guidance
During the Weyco Group's third-quarter 2024 earnings call, guidance highlighted several key financial metrics, revealing a challenging economic environment with reduced consumer discretionary spending impacting sales. The overall net sales for the quarter decreased by 12% to $74.3 million compared to $84.2 million in 2023, though consolidated gross earnings as a percentage of sales improved to 44.3% from 43% last year. Earnings from operations declined by 18% to $10.2 million, while net earnings totaled $8.1 million or $0.84 per diluted share, down from $9.3 million or $0.98 per diluted share in the prior year. The North American wholesale segment saw a 12% drop in net sales to $61.1 million, though gross earnings as a percentage of sales increased to 40.1%, and selling and administrative expenses decreased to $15.1 million. The North American retail segment reported a 5% decline in net sales to $7.2 million, with gross earnings rising to 66.9% of sales. Florsheim Australia's sales were down 15% to $6 million due to the closure of Asia Pacific operations. Interest income increased to $900,000 from $300,000 last year, supported by higher cash balances, while cash and marketable securities stood at $81.8 million with no outstanding debt. The Board announced a regular cash dividend of $0.26 per share and a special onetime dividend of $2 per share, reflecting the company's strong financial position despite current market challenges.Special Cash Dividend Declared
A special onetime cash dividend of $2 per share was declared in addition to the regular quarterly dividend, reflecting strong financial performance and cash reserves.
Increase in Gross Margins
Consolidated gross earnings as a percent of net sales increased to 44.3% from 43% in the previous year, driven by higher margins in the North American wholesale segment.
Florsheim Brand Performance
Florsheim sales exceeded prior year levels and the brand continues to gain market share in the refined footwear category.
Interest Income Growth
Interest income increased to $900,000 in the third quarter of 2024, up from $300,000 in the previous year due to higher cash balances.
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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 |
|---|---|---|---|
| Nov 05, 2024 | $32.50 | $38.66 | +18.95% |
| Aug 06, 2024 | $29.06 | $28.82 | -0.83% |
| May 07, 2024 | $26.76 | $26.13 | -2.35% |
| Mar 05, 2024 | $28.92 | $27.11 | -6.26% |
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 Mar 11, 2025, TBA Not Confirmed.
What is Weyco Group Inc (WEYS) earnings time?
Weyco Group Inc (WEYS) earnings time is at Mar 11, 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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