NASDAQ$RCKY

Rocky Brands Inc · Q4 2020 earnings

Q4 2020 earnings · · Investor relations

Briefing

Reported a strong increase in revenue and earnings per share for the fourth quarter of 2020.

Rocky Brands, Inc. announced strong financial results for the fourth quarter and full year 2020. Fourth quarter net sales increased 16.3% to $87.6 million, and net income increased 91.1% to $9.7 million, or $1.33 per diluted share. For the full year, net sales increased 2.6% to $277.3 million, and net income increased 20.1% to $21.0 million, or $2.86 per diluted share.

  • Fourth quarter net sales increased 16.3% to $87.6 million.
  • Fourth quarter net income increased 91.1% to $9.7 million, or $1.33 per diluted share.
  • Gross margin in the fourth quarter of 2020 increased to 41.2% of sales, compared to 37.5% for the same period last year.
  • The company is on track to close the acquisition of the performance and lifestyle footwear business of Honeywell in March.

Headline financials

Total Revenue

$87.6M

Previous: $75.3M+16.3%
EPS (adj)

$1.41

Previous: $0.68+107.4%
Gross Margin

41.2%

Previous: 37.5%+9.9%
Capital Expenditures

$3.1M

Previous: $1.67M+86.1%
Free Cash Flow

$10.2M

Previous: $11.5M-11.2%
Net Income

$9.7M

Previous: $5.09M+90.7%
Operating Income

$12.9M

Previous: $6.66M+93.8%
Gross Profit

$36.1M

Previous: $28.3M+27.8%
Cash & Equivalents

$28.4M

Previous: $15.5M+83.0%
Total Assets

$229M

Previous: $206M+11.3%
Stock-Based Comp

$194K

Previous: $166K+16.9%

Revenue & EPS history

Rocky Brands · Revenue · Quarterly

$87.6M

Q4 2020+16.3%vs Q4 2019
Beat estimate in 14 of 16 quarters(88%)
ActualEstimate

Revenue by segment

Rocky Brands · $83.4M total across 2 segments · Q4 2020

  • Wholesale
    $59.9M+21.5%
  • Retail
    $23.5M+13.0%

Forward guidance

The company believes it has the right strategies in place to continue expanding its market share both organically and through its proposed acquisition of the performance and lifestyle footwear business of Honeywell that is on track to close in March.

Tailwinds

  • Strong sales across the business leading to record revenue and profitability.
  • Successfully weathered the initial challenges created by COVID-19.
  • Capitalized on the opportunities that emerged as the economy reopened.
  • The company's performance reflects the strong appeal of the brands and products.
  • Enhanced fulfillment capabilities.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2020

Historical avgQ4 2020

+3.0%

Avg return

Earnings day

+6.3%

Avg return

5 days after

+6.7%

Avg return

30 days after

62%

40 / 65 earnings

Positive

+53.3%

Q1 2025

Best reaction

-26.6%

Q3 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+0.4%+3.1%+2.6%
Q4 2025+37.8%+35.3%+13.2%
Q3 2025-2.0%-4.7%+1.5%
Q1 2025+53.3%+34.6%+63.1%
Q4 2024-10.9%-19.6%-25.4%
Q3 2024-26.6%-25.1%-21.7%
Q2 2024-2.8%-16.7%-10.7%
Q1 2024+22.2%+29.7%+37.4%
Q4 2023-18.4%-14.4%-11.3%
Q3 2023+47.5%+78.8%+135.2%
Q2 2023+2.4%+1.6%-11.7%
Q1 2023-26.6%-26.7%-33.6%
Q4 2022+1.4%-2.2%-15.9%
Q3 2022+11.4%+14.5%+42.3%
Q2 2022-15.7%-18.0%-23.5%
Q1 2022+1.9%-5.5%-4.8%
Q4 2021+23.2%+19.5%+7.9%
Q3 2021-23.2%-24.8%-38.1%
Q2 2021-14.0%-7.9%-15.0%
Q1 2021+13.5%+18.9%-0.7%
Q4 2020+13.6%+35.2%+39.8%
Q3 2020+4.5%+11.1%+27.1%
Q2 2020+49.7%+27.3%+30.2%
Q1 2020+4.0%-6.5%+1.6%
Q4 2019+5.6%-1.4%-24.3%
Q3 2019-13.6%-13.3%-15.4%
Q2 2019+4.8%+9.0%-2.7%
Q1 2019+7.5%+5.9%+6.0%
Q4 2018+5.3%+8.5%-12.4%
Q3 2018+3.0%+7.8%-0.9%
Q2 2018+22.0%+15.3%+13.8%
Q1 2018+6.2%+10.0%+21.6%
Q4 2017+9.4%+12.1%+25.2%
Q3 2017+1.4%+24.9%+34.4%
Q2 2017+13.4%+10.6%+6.3%
Q1 2017+10.6%+27.2%+27.6%
Q4 2016-0.9%+1.8%-2.2%
Q3 2016+2.9%+4.4%+8.7%
Q2 2016-9.1%-12.9%-13.8%
Q1 2016-11.6%
Q4 2015-6.2%
Q3 2015-15.8%
Q2 2015-10.6%
Q1 2015+0.6%
Q4 2014+29.4%
Q3 2014-1.7%
Q2 2014+4.0%
Q1 2014-0.8%
Q4 2013+0.5%
Q3 2013-21.2%
Q2 2013+13.6%
Q1 2013+3.3%
Q4 2012-10.0%
Q3 2012-1.5%
Q2 2012-10.6%
Q1 2011+3.1%
Q1 2012+1.9%
Q4 2011-0.8%
Q3 2010-2.0%
Q3 2011-2.0%
Q2 2011+3.4%
Q2 2010+3.4%
Q4 2009+3.4%
Q4 2010+3.4%
Q1 2010+3.6%

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