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SGC Superior of Companies News Story

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Apparel maker Superior Group's Q2 sales beat expectations

Overview

Superior Group Q2 net sales rise 9%, beating analyst expectations, per LSEG data

Net income for Q2 increases, reflecting improved operational performance

Co continued stock repurchase plan and maintained quarterly dividend

Outlook

Company maintains full-year revenue outlook of $550 mln to $575 mln

Superior Group to leverage diverse sourcing channels for growth

Result Drivers

BRANDED PRODUCTS - Sales of Branded Products rose 14%, driving overall revenue growth, per CEO Michael Benstock

STOCK REPURCHASE - Continued stock repurchase plan, with $4.0 mln allocated to buybacks in Q2

Key Details

MetricBeat/MissActualConsensus Estimate
Q2 SalesBeat$144 mln$133 mln (5 Analysts)
Q2 Net Income$1.60 mln
Q2 Dividend$0.14
Q2 EBITDA$6.10 mln
Analyst Coverage The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 4 "strong buy" or "buy", no "hold" and no "sell" or "strong sell" The average consensus recommendation for the apparel & accessories peer group is "buy." Wall Street's median 12-month price target for Superior Group of Companies Inc is $16.00, about 38.8% above its August 4 closing price of $9.79 The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 12 three months ago Press Release: ID:nGNX5ZgSbj (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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