Dixie Group Stock Price, News & Analysis

The Dixie Group, Inc. (NASDAQ:DXYN) reported a 36% increase in net sales for 2021, reaching $341 million, compared to $251 million in 2020. The company achieved a net income of $1.6 million, significantly improving from a loss of $9.2 million the previous year. Despite challenges, including inflationary pressure on inventory and a ransomware attack, the company reduced its total debt to the lowest level since 2011. The gross margin for 2021 was 22.6%, slightly down from 22.9% in 2020. Looking ahead, sales for the first quarter of 2022 are up high single digits versus 2021, indicating positive momentum.

The Dixie Group (NASDAQ:DXYN) will host a conference call on March 10, 2022, at 2:00 p.m. ET to discuss its 2021 results. Interested participants can join by dialing 877-407-0989 with Conference ID No. 13726614. A digital replay will be available for two weeks, and an online replay will follow within two hours after the call for seven days. The Dixie Group is known for its high-end carpet and rug products marketed through brands such as Fabrica International and Masland Carpets.

The Dixie Group reported a robust third quarter of 2021, with net sales of $89.3 million, a 27% increase from the same period in 2020. Net income reached $6.4 million, significantly up from $175,000 year-over-year. Following the divestiture of its commercial business, the company is now focused solely on residential floorcovering, achieving a 26% growth in sales within that sector. The company launched several new products and noted strong order activity, although rising raw material costs may impact future margins.

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.