Q1 2026 Acme United Corp Earnings Call Transcript
Key Points
- Net sales increased by 14% to $52.3 million in the first quarter of 2026.
- The acquisition of MyMedic contributed approximately 8% to the sales increase and is expected to generate significant profits in the future.
- Gross margins improved to 39.7% from 39% in the previous year.
- Sales in Europe increased by 19% in local currency, driven by the acquisition of Schmid glut and strong performance in the first aid business.
- The Canadian business saw a 16% increase in sales, with strong performance in both the first aid and cutting segments.
- Net income decreased to $985,000 from $1.6 million in the previous year, with earnings per share dropping from $0.41 to $0.24.
- Core gross margins declined due to higher costs and tariffs, despite the overall increase in gross margins.
- The company faced supply chain disruptions and increased costs due to tariffs, impacting profitability.
- SG&A expenses rose to $19 million, or 36% of net sales, primarily due to the addition of MyMedic and increased advertising costs.
- The cutting and sharpening segment experienced a decline, with Westcott down about 2% in the first quarter.
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Good day and welcome to the Acme United first-quarter 2026 Financial Results Call.
At this time, I'd like to turn the call over to Walter Johnson, Chairman and CEO. Please go ahead, sir.
Good morning.
Welcome to the first-quarter 2026 Earnings Conference Call for Acme United Corporation.
I'm Walter C. Johnson, Chairman and CEO.
With me is Paul Driscoll, our Chief Financial Officer, who will first read a safe harbor statement. Paul.
Forward-looking statements in this conference call, including without limitation, statements related to the company's plans, strategies, objectives, expectations, intentions, and adequacy of capital and other resources. Are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1,995. Investors are cautioned that such forward-looking statements
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