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.
Q.E.P. Co., Inc. (OTCQX: QEPC) is a flooring installation solutions company that regularly issues detailed updates on its operations, strategy and capital allocation. Its news releases cover financial performance, manufacturing investments, portfolio changes and shareholder distributions, giving investors and observers insight into how the business is evolving.
Readers of QEPC news can expect recurring earnings announcements, including quarterly and annual financial results. These updates typically discuss net sales, gross profit, operating expenses, EBITDA from continuing operations, cash flow from operations and working capital, along with commentary on factors such as home improvement spending, tariffs, sourcing and freight costs.
QEP’s news flow also includes dividend declarations, where the board of directors announces cash dividends on the company’s common stock, described as part of its approach to returning capital to stockholders. In addition, the company reports on portfolio actions such as divestitures of certain international businesses, which it links to a strategic focus on its core North American operations.
Operational and manufacturing developments are another theme in QEP’s news. The company has highlighted investments in domestic manufacturing, including the opening of a ROBERTS® adhesive plant in Dalton, Georgia, as well as initiatives to expand production capacity and enhance polymer formulation capabilities. QEP also occasionally reports on community and disaster relief efforts, such as large-scale donations of sponges to support cleanup after wildfires and hurricanes.
For anyone tracking QEPC, this news stream provides context on how QEP manages its flooring installation brands, responds to economic and tariff conditions, and balances investment, divestitures and shareholder returns over time.
Q.E.P. CO., INC. (QEPC) reported $445.5 million in net sales for the fiscal year ending February 28, 2022, reflecting a 14.9% increase from $387.6 million in 2021. Net income rose to $9.6 million or $2.88 per diluted share, compared to $6.9 million or $2.06 in the prior year. Despite a decrease in gross margin to 27.1% due to rising costs, adjusted EBITDA grew 18% to $18.3 million. Operating expenses decreased as a percentage of sales, aided by higher shipping costs and personnel expenses. The company aims to manage costs while investing strategically amidst ongoing supply chain challenges.
Q.E.P. Co., Inc. (OTCQX: QEPC) reported nine-month net sales of $339.2 million, a 17.8% increase from the previous year. Net income reached $7.7 million, with earnings per share of $2.31, up from $1.66 in fiscal 2021. Gross profit also rose to $92.8 million, but gross margin declined due to rising costs, reflecting 27.4% of net sales. Operating expenses increased to $81.1 million, influenced by high shipping and personnel costs as the company invests in infrastructure. The company will host a conference call on January 13, 2022, to discuss these results.
Q.E.P. Co., Inc. (OTCQX: QEPC) has announced an amendment to its Loan Agreement with Bank of America, extending the maturity date to November 22, 2026, while providing up to $85 million in revolving credit. Key changes include the addition of Q.E.P. Australia as a secured borrower, relaxed customer concentration limits, and updated covenant requirements. The amendment also transitions from LIBOR to alternative interest rates and reduces the pricing floor, enhancing financial flexibility for the Company.
Q.E.P. CO., INC. (QEPC) reported record net sales of $227.3 million for the first six months of fiscal 2022, a 20.2% increase from $189.1 million in the previous year. Net income reached $5.0 million against $3.4 million a year ago. Although gross profit improved by 17.4% to $62.3 million, the gross margin decreased to 27.4% due to rising product costs. Operating expenses increased to $54.7 million, attributed to higher shipping and personnel costs. The company's cash from operations also fell to $1.7 million as inventory investments rose.
Q.E.P. Co., Inc. (OTCQX: QEPC) has successfully upgraded from the Pink Market to the OTCQX® Best Market, effective today. This move aims to enhance the company's visibility and access within the investment community, showcasing a commitment to high standards in compliance and corporate governance. The OTCQX provides a premium platform for trading shares of established companies, adhering to rigorous financial and governance standards. Founded in 1979, QEP specializes in flooring and installation solutions, boasting a wide array of products sold globally.
Q.E.P. Co. reported record quarterly net sales of $114.4 million for Q1 FY2022, a 33.0% increase from $86.0 million in Q1 FY2021. Net income rose to $2.6 million or $0.79 per diluted share, compared to $0.7 million or $0.21 in the prior year. Gross profit also increased by 32.3% to $31.3 million. However, operating expenses grew due to higher shipping, personnel, and marketing costs, totaling $27.3 million. The company faces challenges from rising raw material costs and inflation. Cash from operations decreased to $1.4 million compared to $10.6 million in the same quarter last year.
On June 16, 2021, Q.E.P. Co., Inc. (OTC: QEPC) announced a one-time cash dividend of $0.05 per share, payable on or about August 18, 2021. Shareholders of record must hold shares by the close of business on July 14, 2021.
Founded in 1979, QEP specializes in flooring and installation solutions worldwide, offering a variety of product lines including adhesives and flooring tiles. The company operates from its headquarters in Boca Raton, Florida.
Q.E.P. Co., Inc. (OTC: QEPC) reported its fiscal 2021 results, revealing net sales of $387.6 million, a 1.6% decrease from $393.9 million in fiscal 2020. Despite the initial decline attributed to the COVID-19 pandemic, the company achieved year-over-year sales growth for the last three quarters. Gross margin improved to 28.0%, up from 26.4% in the prior year. Net income reached $6.9 million or $2.06 per diluted share, contrasting with a loss of $12.1 million in fiscal 2020. The company emphasized cost control measures and restructuring as key factors in returning to profitability.