Welcome to our dedicated page for QEP Co news (Ticker: QEPC), a resource for investors and traders seeking the latest updates and insights on QEP Co stock.
QEP Co Inc (QEPC) delivers innovative specialty tools and flooring solutions to professional installers worldwide. This news hub provides investors and industry professionals with essential updates about the company’s operations, financial performance, and market position.
Access authoritative information on product innovations, quarterly earnings, and strategic initiatives through verified press releases and curated news coverage. Our collection focuses on developments impacting QEPC’s core markets in flooring installation tools and surface preparation equipment.
Key updates include product launches for ceramic tile tools, distribution network expansions, and leadership announcements. All content is organized chronologically to help track the company’s progress in serving commercial contractors and home improvement retailers.
Bookmark this page for streamlined access to QEPC’s latest developments. Check back regularly for updates directly affecting the specialty tools sector and related investment considerations.
Q.E.P. CO., INC. (OTCQX: QEPC) reported its fiscal 2025 six-month and second quarter financial results. For the six months ended August 31, 2024, net sales decreased by 3.0% to $126.1 million, while gross profit increased by 9.3% to $44.8 million. The company's gross margin improved to 35.5% from 31.5% in the same period last year. Net income from continuing operations for the six months was $7.7 million or $2.34 per diluted share, up from $4.8 million or $1.43 per diluted share in fiscal 2024. EBITDA from continuing operations increased to $11.0 million or 8.7% of net sales. The company reported cash provided by operations of $11.2 million and an aggregate available cash, net of outstanding debt, of $29.8 million as of August 31, 2024.
Q.E.P. Co., Inc. (OTCQX: QEPC) reported its fiscal 2025 first quarter results, ending May 31, 2024. Despite a 3.7% decrease in net sales to $63.5 million, the company's adjusted net income more than doubled to $3.9 million or $1.17 per diluted share. Gross profit increased by 12.2% to $22.5 million, with gross margin improving to 35.4%. EBITDA from continuing operations rose to $5.6 million or 8.8% of net sales.
The company's financial position strengthened, with cash provided by operating activities at $6.1 million and aggregate available cash, net of outstanding debt, increasing to $30.1 million. QEP continues to focus on its core North American market following strategic divestments in the prior fiscal year.
Q.E.P. Co. (OTCQX: QEPC) announced its fiscal 2024 results, highlighting significant financial shifts. Adjusted net income surged to $9.1 million, or $2.73 per share, from $4.5 million or $1.34 per share in fiscal 2023. Despite net sales falling 6.5% to $252.0 million due to reduced consumer demand, gross profit rose 12% to $82.0 million, driven by cost-cutting and a better product mix.
The company completed strategic divestments, including North American flooring brands and businesses in the UK, Australia, and New Zealand. These moves, along with debt reductions, resulted in lower interest expenses and a cash surplus, allowing for special dividends in 2024. Operating expenses increased due to higher personnel and divestiture-related costs. The net loss was $4.7 million, or $1.40 per share, compared to $0.1 million or $0.02 per share the previous year.
Cash from operations was $29.5 million, compared to a net use of $0.1 million in fiscal 2023, improving working capital to $60.0 million. The company’s EBITDA from continuing operations improved to $14.7 million from $10.6 million in fiscal 2023.
Q.E.P. Co. (OTCQX: QEPC) declared a special cash dividend of $1.00 per share, payable on June 26, 2024, to stockholders of record as of May 31, 2024. This move reflects the company's solid financial health, ensuring that it retains sufficient working capital for investments and operating needs.
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