Dixie Group Stock Price, News & Analysis

The Dixie Group (NASDAQ:DXYN) has announced the rescheduling of its 2021 Third Quarter Earnings Release conference call to November 12, 2021, at 11:00 a.m. ET. This change allows more time to prepare financials, particularly following the divestiture of the Company's commercial operations. Interested parties can join the call by dialing 877-407-0989 with Conference ID 13723869. The call will be available for replay online for two weeks after the live broadcast on their Investor Relations page.

The Dixie Group (NASDAQ:DXYN) has announced a rescheduling of its earnings conference call for Q3 2021 due to a scheduling conflict. The call is now set for November 11, 2021, at 11:00 a.m. ET. Participants can join by dialing 877-407-0989 with Conference ID 13723869. An internet simulcast will be available on the company's Investor Relations page, with a replay accessible two hours post-call for seven days. The Dixie Group specializes in high-end carpet and rug manufacturing.

Dixie Group is set to discuss its 2021 third quarter earnings during a conference call on November 5, 2021, at 11:00 a.m. ET. Interested participants can join by dialing 877-407-0989 with the Conference ID No. 13723869. For those preferring to listen online, a simulcast will be available on the company's Investor Relations page. A replay of the call will be accessible two hours post-call for seven days, and a digital replay will be available for two weeks thereafter.

Dixie Group announced the sale of its AtlasMasland commercial business to Mannington Mills for $20.5 million. The deal includes inventory, machinery, and intellectual property, while the Company retains cash deposits and certain assets valued at $7 million, totaling $27.5 million in value. The transaction allows Dixie Group to focus on its residential floorcovering business, using proceeds to reduce debt by $20 million and enhance borrowing capacity. Residential sales increased by 45% year-to-date.

The Dixie Group, Inc. reported a remarkable 72.3% increase in net sales for Q2 2021, reaching $105 million, compared to $60.8 million in Q2 2020. The net income stood at $3.3 million, a significant turnaround from a net loss of $7 million in the prior year. Residential floorcovering sales surged 99.5%, driven by home sales and remodeling growth. However, the company faced challenges, including a ransomware attack and the impending sale of its commercial business, indicating a strategic shift towards residential markets. Gross profit margin improved to 24.6%.

The Dixie Group will conduct a conference call regarding their 2021 Second Quarter Earnings on August 5, 2021, at 10:00 a.m. ET. Investors can join the call by dialing 877-407-0989 with Conference ID 13721095. A live internet simulcast will be available on the Investor Relations page of their website, with a replay accessible for seven days after the call.

The company is a prominent manufacturer of carpets and rugs, serving high-end residential and commercial clients through various brands.

The Dixie Group (NASDAQ:DXYN) announced an agreement in principle to sell its commercial business to Mannington Mills. The deal includes the AtlasMasland business, various tufting machines, equipment, and inventories, but no facilities will be transferred. Mannington will take over AtlasMasland's sales and marketing functions. The Dixie Group plans to continue manufacturing products for Mannington during the transition period, which is expected to last several months. The company remains focused on enhancing its residential business through additional investments and product innovations.

The Dixie Group, Inc. (NASDAQ:DXYN) reported a 7.1% year-over-year increase in net sales for Q1 2021, totaling $86.3 million. Despite reduced debt by $2.1 million and strong residential product sales (up 23%), the company faced a loss of $1.97 million, an improvement from a $2.61 million loss in Q1 2020. Commercial sales decreased 37%. Gross profit margins declined to 22.6%, impacted by volume inefficiencies and rising raw material costs. The company continues to innovate with new product launches and is adapting to the ongoing impacts of COVID-19.

The Dixie Group will host a conference call on May 18, 2021, at 2:00 p.m. ET to discuss its 2021 First Quarter Earnings. Participants can join by dialing 877-407-0989 with Conference ID 13719890. For those who wish to listen, an Internet simulcast will be available on their Investor Relations page. A replay will be accessible for two weeks post-event at 877-660-6853 using the same Conference ID. The Dixie Group specializes in marketing and manufacturing high-quality carpets and rugs.