Q4 2024 Rocky Brands Inc Earnings Call Transcript

Feb 25, 2025 / 09:30 PM GMT

Release Date Price: $23.58 (+1.20%)

Transcript 8-K

Key Points

Positve

Rocky Brands Inc (RCKY) reported a strong fourth quarter with sales increasing 1.7% year over year to $128.1 million.
The retail segment achieved its highest ever quarterly sales figure, with a 15.3% increase in sales.
The company's Durango and Extra Tough brands showed strong performance, contributing significantly to top-line results.
Gross profit improved to $53.2 million, with a gross margin increase of 120 basis points to 41.5% of net sales.
The company successfully reduced its debt by 25.7% over the last 12 months, enhancing financial stability.

Negative

Operating expenses increased to $44.7 million, representing 34.9% of net sales, up from 28.6% in the previous year.
The company recorded a $4 million non-cash trademark impairment charge related to the Muck brand.
Net income decreased to $4.8 million from $6.7 million in the fourth quarter of 2023.
The company faces pressure from a 10% increase in tariffs on products sourced from China, impacting cost structures.
Retailers are exhibiting cautious behavior with inventory commitments, leading to uncertainty in future sales projections.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

RCKY.OQ - Rocky Brands Inc
Q4 2024 Rocky Brands Inc Earnings Call
Feb 25, 2025 / 09:30PM GMT

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Presentation
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Unidentified_1 [1]
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Good afternoon, ladies and gentlemen, and thank you for standing by. Welcome to the Rocky Brand's 4th quarter 2024 earnings conference call. At this time, all participants are on a listen-only mode. Following the presentation, we will conduct a question and answer session.

Instructions will be will be provided for you at that time. If anyone has difficulties hearing the conference, please press 0 for operator assistance at any time. I would like to remind everyone that this conference call is being recorded. I will now turn the conference over to your host, Brendan Free of ICR.

Thank you. You may begin.

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Unidentified_2 [2]
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