Welcome to our dedicated page for Acme United news (Ticker: ACU), a resource for investors and traders seeking the latest updates and insights on Acme United stock.
Acme United Corporation reports developments tied to its safety products and cutting technology business for school, home, office, hardware, sporting goods and industrial markets. The company sells first aid and medical products, scissors, shears, knives, rulers, sharpening tools and spill-control products through retail, e-commerce, industrial and wholesale channels across U.S., Canada and Europe segments.
Recurring ACU news includes quarterly financial results, segment sales trends, cost and tariff commentary, common-stock dividends, acquisitions and brand updates. Company updates also cover products and brands such as First Aid Only, PhysiciansCare, Spill Magic, Westcott, Clauss, DMT, Med-Nap, Elite First Aid and My Medic, including My Medic's tactical, trauma and emergency response products sold primarily through direct-to-consumer channels.
Acme United Corporation (ACU) reported net sales of $56.8 million for Q2 2022, a 27% increase from $44.8 million in Q2 2021. However, net income plummeted by 62% to $2.7 million, attributed to the prior year’s PPP loan forgiveness and a tax credit. Year-to-date sales also rose by 13% to $100.1 million, while net income for the first half decreased by 62% to $3.6 million. The company acquired Live Safely Products for $11 million, enhancing its product offerings. Despite challenges, Acme United aims for $200 million in revenue for 2022 and increased its credit facility by $15 million.
Acme United Corporation (NYSE American: ACU) will release its financial results for the Second Quarter of 2022 on July 22, 2022, at 9:00 a.m. ET.
A conference call to discuss these results is scheduled for 12:00 p.m. ET on the same day, with dial-in numbers provided for participants. The call will be accessible via the company's Investor Relations web page, highlighting Acme United's position as a leading supplier of safety solutions and cutting technology.
The Board of Directors of Acme United Corporation (NYSE American: ACU) has declared a cash dividend of 14 cents per share, payable on July 22, 2022, to stockholders of record by July 1, 2022. This marks the company's thirteenth dividend increase since 2004. Chairman and CEO Walter C. Johnsen stated the company is making good progress and remains confident in its strong balance sheet. Acme United Corporation is recognized for its innovative safety solutions and cutting technologies across multiple market sectors.
Acme United Corporation (NYSE American: ACU) has acquired the assets of Live Safely Products, LLC (d/b/a “Safety Made”), a manufacturer of first aid kits, enhancing its product offerings in the promotional products industry. Safety Made reported revenues of approximately $4.9 million and EBITDA of $1.2 million in 2021. The transaction aims to be immediately accretive, leveraging cross-selling opportunities across Acme United's customer base. Chairman and CEO Walter C. Johnsen expressed enthusiasm about expanding their product range and welcoming Safety Made's team.
Acme United Corporation (NYSE MKT: ACU) announced the renewal and increase of its loan facility with HSBC Bank, N.A. The updated agreement raises borrowings to $65 million, a $15 million increase, with an interest rate of SOFR plus 1.75%, expiring on May 31, 2026. The facility aims to enhance liquidity for growth initiatives, including share repurchases and acquisitions. As of March 31, 2022, the company had $40.2 million outstanding under the existing agreement. CEO Walter C. Johnsen expressed confidence in leveraging this facility for growth opportunities.
Acme United Corporation (NYSE American: ACU) will present at the Sidoti Microcap Virtual Conference on May 11, 2022, at 10:45 AM EDT. The company's Chairman and CEO, Walter Johnsen, will also hold one-on-one meetings with institutional investors on May 11 and 12, 2022. A webcast of the presentation will be available on Acme United's Investor Relations page. Acme United is a leading supplier of innovative safety and cutting technology products across various markets.
Acme United Corporation (NYSE American: ACU) reported net sales of $43.3 million for Q1 2022, a slight decline from $43.5 million in Q1 2021. Net income dropped 59% to $830,000, or $0.22 per diluted share, compared to $2,046,000, or $0.52 the previous year. Supply chain disruptions, particularly from COVID-19, affected orders worth approximately $4.0 million. Gross margins decreased to 34.5% from 35.8% due to rising product and transportation costs. The company aims for revenues exceeding $200 million in 2022, with expectations of improved supply chain conditions.
Acme United Corporation (NYSE American: ACU) will announce its financial results for Q1 2022 on April 22, 2022, at 9:00 a.m. ET. A conference call is scheduled for the same day at 12:00 p.m. ET to discuss these results. Interested participants can join the call by dialing 888-394-8218 or accessing a live webcast through the company's website. Acme United is a global supplier of safety solutions and cutting technology, featuring brands such as First Aid Only, PhysiciansCare, and Westcott.
Acme United Corporation (NYSE American: ACU) has declared a cash dividend of 13 cents per share, payable on April 22, 2022, to shareholders on record as of April 1, 2022. This action reflects the company's commitment to returning value to its investors amidst its operations in the safety solutions and cutting technology sectors. Acme United supplies various markets including school, home, and industrial applications with leading brands such as First Aid Only and Westcott.
Acme United Corporation (NYSE American: ACU) announced its participation in the 34th Annual Roth Conference on March 14-15, 2022, at The Ritz-Carlton in Dana Point, California. The event will be held both in-person and virtually. Chairman and CEO Walter Johnsen will conduct one-on-one meetings with institutional investors.
Additionally, Acme United's presentation will be available for streaming before the conference on their Investor Relations website.
For further details, investors can contact their Roth representative or request a registration form through the provided link.