業績公告
即時報告
8-K
2026-07-30
攀登者第二季淨銷售增6.2% 毛利率改善 受惠關稅回收營運收入躍升至1190萬美元
AI 繁中摘要
Escalade, Inc.（NASDAQ: ESCA）在 2026 年 7 月 30 日公佈第二季度業績（截至 2026 年 6 月 30 日），屬於 8-K 申報。業績亮點：淨銷售額按年增長 6.2% 至 5,770 萬美元，受惠於弓箭（含去年收購 Gold Tip 的貢獻）、安全、乒乓球及籃球類別增長，但戶外遊戲類別下跌。毛利率改善 146 個基點至 26.2%，主要來自固定成本攤薄及產品組合有利。
營運收入達 1,190 萬美元（去年同期 260 萬美元），當中包含一筆約 1,020 萬美元的一次性關稅回收（先前季度支付的關稅獲退還）。若不計此項目，營運收入約為 170 萬美元。淨收入 940 萬美元（每股攤薄盈利 0.68 美元），遠高於去年同期的 180 萬美元（0.13 美元）；扣除關稅回收後的淨收入為 260 萬美元（0.19 美元）。EBITDA 達 1,320 萬美元，扣除關稅回收後為 470 萬美元，仍較去年同期的 390 萬美元增長。
經營現金流為 870 萬美元（去年同期 1,330 萬美元），減少主要由於營運資金增加。資產負債表進一步改善：總債務降至 1,490 萬美元（去年底 1,850 萬美元），現金及等價物達 1,640 萬美元，處於淨現金狀態；循環信貸可用額為 5,670 萬美元。董事會宣派每股 0.1525 美元季度股息（較去年 0.15 美元略增），除息日為 10 月 6 日，派息日為 10 月 13 日。
管理層展望：行政總裁 Patrick Griffin 表示，下半年有信心繼續推動收入增長，但能源成本上升及更廣泛的通脹壓力仍會影響消費開支。公司計劃利用關稅退款來抵銷運費、商品成本及新關稅的影響，同時增加推廣、加速產品創新及改善設施。公司將繼續專注於資本配置，尋找具增值潛力的收購機會。
對投資者的潛在影響：業績受一次性關稅回收大幅推高，但核心業務亦有改善，毛利率提升及債務減少反映營運效率向好。不過，通脹及關稅不確定性仍是隱憂，投資者需留意公司能否持續透過創新及成本控制維持增長。
展開英文正文
EX-99.1 2 ex_995445.htm EXHIBIT 99.1 ex_995445.htm EXHIBIT 99.1 Escalade Reports Second Quarter 2026 Results EVANSVILLE, IN, July 30, 2026 – Escalade, Inc. (NASDAQ: ESCA, or the “Company”), a leading manufacturer and distributor of sporting goods and indoor/outdoor recreational equipment, today announced results for the second quarter 2026. SECOND QUARTER 2026 HIGHLIGHTS (As compared to the second quarter 2025) ● Net sales increased 6.2% to $57.7 million ● Gross margin improved 146 basis points to 26.2% ● Operating income of $11.9 million compared to $2.6 million ● Net income of $9.4 million, or $0.68 earnings per diluted share, compared to $1.8 million, or $0.13 earnings per diluted share ● EBITDA of $13.2 million compared to $3.9 million ● Pre-tax income includes tariff recoveries of $10.2 million ● Cash provided by operations of $8.7 million compared to $13.3 million For the three months ended June 30, 2026, Escalade posted net sales of $57.7 million, net income of $9.4 million and diluted earnings per share of $0.68. Total net sales increased 6.2% on a year-over-year basis in the second quarter, primarily driven by increases in our archery categories, including the incremental contribution from our September 2025 acquisition of Gold Tip. Net sales also benefited from increased demand in the safety, table tennis and basketball categories. These increases were partially offset by lower sales in outdoor games categories. Escalade reported second quarter gross margin of 26.2%, an increase of 146 basis points versus the prior-year period, primarily driven by better absorption, operating leverage and a favorable sales mix. Net income for the second quarter of 2026 was $9.4 million, or $0.68 diluted earnings per share, compared to net income of $1.8 million, or $0.13 diluted earnings per share, for the same quarter in 2025. Excluding the tariff recovery, second quarter 2026 net income was $2.6 million, or $0.19 per diluted share. Earnings before interest, taxes, depreciation, and amortization (“EBITDA”) was $13.2 million in the second quarter of 2026. Excluding the tariff recovery, second quarter 2026 EBITDA was $4.7 million, an increase of $0.8 million versus $3.9 million in the prior-year period. During the second quarter of 2026, the Company generated $8.7 million in cash flow from operations, a decrease of $4.6 million relative to the second quarter of last year. The decline in cash flow from operations was primarily attributable to an increase in cash flow used for working capital purposes. Total debt at the end of the quarter was $14.9 million, down from $22.0 million at the end of the second quarter last year, and $18.5 million at the end of 2025. Total cash and equivalents as of June 30, 2026 was $16.4 million, while availability on the senior secured revolving credit facility maturing in 2027 was $56.7 million. Escalade announced a quarterly dividend of $0.1525 per share to be paid to all shareholders of record on October 6, 2026 and payable on October 13, 2026. 1 MANAGEMENT COMMENTARY "Escalade delivered a solid second quarter, with net sales up 6.2% year over year and gross margin expanding 146 basis points to 26.2%," said Patrick J. Griffin, President and Chief Executive Officer of Escalade. "Growth was broad based, led by strength in our safety, table tennis and basketball categories, along with continued momentum in archery, where results benefited from new product introductions and the accretive contribution of the Gold Tip acquisition completed last September." "The gross margin improvement reflected lower fixed costs and a favorable sales mix,” continued Griffin. “Reported operating income and EBITDA also included a one-time, pre-tax benefit of approximately $10.2 million from the recovery of tariff costs incurred in prior quarters, which had weighed on our reported profitability when they were originally paid. We expect to use some of our refunds to help offset higher costs driven by increased freight rates, commodity inflation, and additional new tariffs. We also plan to invest in trade and consumer promotions, accelerate product innovation, and make facility improvements to increase efficiency." "Looking to the second half of the year, we remain confident in our ability to drive continued top-line growth," Griffin added. "While elevated energy costs and broader inflationary pressures will continue to weigh on consumer spending, we believe our investments in innovation and new products, operating leverage, and disciplined operational execution position us to navigate ongoing macroeconomic headwinds." "We continued to strengthen our balance sheet during the quarter, reducing total debt to $14.9 million and ending the period in a net cash position," Griffin concluded. "This financial flexibility allows us to continue pursuing our robust capital allocation strategy, which includes a growing pipeline of potential accretive acquisition opportunities. Disciplined capital allocation remains central to our value-creation strategy, and we are focused on generating attractive returns on invested capital and delivering long-term value for our shareholders." 2 CONFERENCE CALL A conference call will be held Thursday, July 30, 2026, at 11:00 a.m. ET to review the Company’s financial results, discuss recent events and conduct a question-and-answer session. A webcast of the conference call and accompanying presentation materials will be available in the Investor Relations section of Escalade’s website at www.escaladeinc.com. To listen to a live broadcast, go to the site at least 15 minutes prior to the scheduled start time in order to register, download, and install any necessary audio software. To participate in the live teleconference: Domestic Live: 1-833-890-3250 International Live: 1-412-206-6441 To listen to a replay of the teleconference, which subsequently will be available through August 13, 2026: Domestic Replay: 1-844-512-2921 International Replay: 1-412-317-6671 Conference ID: 10209663 USE OF NON-GAAP FINANCIAL MEASURES In addition to disclosing financial statements in accordance with U.S. generally accepted accounting principles (“GAAP”), this release contains the non-GAAP financial measure known as “EBITDA.” A reconciliation of this non-GAAP financial measure is contained at the end of this press release. EBITDA is a non-GAAP financial measure that Escalade uses to facilitate comparisons of operating performance across periods. Escalade believes the disclosure of EBITDA provides useful information to investors regarding its financial condition and results of operations. Non-GAAP measures should be viewed as a supplement to and not a substitute for the Company’s U.S. GAAP measures of performance and the financial results calculated in accordance with U.S. GAAP and reconciliations from these results should be carefully evaluated. Non-GAAP measures have limitations as an analytical tool and should not be considered in isolation or in lieu of an analysis of the Company’s results as reported under U.S. GAAP and should be evaluated only on a supplementary basis. ABOUT ESCALADE Founded in 1922, and headquartered in Evansville, Indiana, Escalade designs, manufactures, and sells sporting goods, safety, fitness, and indoor/outdoor recreation equipment. Our mission is to connect family and friends, create lasting memories, and play life to the fullest. Leaders in our respective categories, Escalade's distinct and acclaimed brands include Goalrilla™ in-ground basketball hoops; STIGA® tennis tables and accessories; Bear® Archery and archery equipment; Brunswick Billiards® tables and accessories; Accudart® darting; ONIX® pickleball; Lifeline® fitness products; and RAVE Sports® water recreation products. Escalade's products are available online and through leading retailers nationwide. For more information about Escalade's diverse and prominent brand portfolio, history, financials, and governance, please visit www.escaladeinc.com. INVESTOR RELATIONS CONTACT Wesley Smith Vice President, Financial Reporting & Investor Relations 812-467-1334 3 FORWARD-LOOKING STATEMENTS This report contains statements that we believe are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Rule 175 promulgated thereunder, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and Rule 3b-6 promulgated thereunder. All statements, other than statements of historical fact, are forward-looking statements. These statements relate to our financial condition, results of operations, plans, objectives, future performance, capital actions or business. They usually can be identified by the use of forward-looking language such as “will likely result,” “may,” “are expected to,” “is anticipated,” “potential,” “estimate,” “forecast,” “projected,” “intends to,” or may include other similar words or phrases such as “believes,” “plans,” “trend,” “objective,” “continue,” “remain,” or similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “might,” “can,” or similar verbs. You should not place undue reliance on these statements, as they are subject to risks and uncertainties. These risks include, but are not limited to: Escalade’s ability to achieve its business objectives; Escalade’s plans and expectations surrounding the transition to its new Chief Executive Officer and all potential related effects and consequences; Escalade’s ability to successfully implement actions to lessen the potential impacts of tariffs, a potential trade war with China and other trade restrictions applicable to our products and raw materials, including impacts on the costs of producing our goods, importing products and materials into our markets for sale, and on the pricing of our products; our international operations, including any related to political uncertainty and geopolitical tensions; Escalade’s ability to successfully achieve the anticipated results of strategic transactions, including the integration of the operations of acquired assets and businesses and of divestitures or discontinuances of certain operations, assets, brands, and products; the continuation and development of key customer, supplier, licensing and other business relationships; Escalade’s ability to protect its intellectual property; Escalade’s ability to develop and implement our own direct to consumer e-commerce distribution channel; the impact of competitive products and pricing; product demand and market acceptance; new product development; Escalade’s ability to successfully negotiate the shifting retail environment and changes in consumer buying habits; the financial health of our customers; disruptions or delays in our business operations, including without limitation disruptions or delays in our supply chain, arising from political unrest, war, terrorist attacks, labor strikes, natural disasters, public health crises such as the coronavirus pandemic, and other events and circumstances beyond our control; the evaluation and implementation of remediation efforts designed and implemented to enhance the Company’s control environment; the potential identification of one or more additional material weaknesses in the Company’s internal control of which the Company is not currently aware or that have not yet been detected; Escalade’s ability to control costs, including managing inventory levels; general economic conditions, including inflationary pressures; fluctuation in operating results; changes in foreign currency exchange rates; changes in the securities markets; continued listing of the Company’s common stock on the NASDAQ Global Market; the Company’s inclusion or exclusion from certain market indices; Escalade’s ability to obtain financing, to maintain compliance with the terms of such financing and to manage debt levels; the availability, integration and effective operation of information systems and other technology, and the potential interruption of such systems or technology; the potential impact of actual or perceived defects in, or safety of, our products, including any impact of product recalls or legal or regulatory claims, proceedings or investigations involving our products; risks related to data security of privacy breaches; the potential impact of regulatory claims, proceedings or investigations involving our products; Escalade’s use of estimates in its financial reporting as well as in its forward looking statements; and other risks detailed from time to time in Escalade’s filings with the Securities and Exchange Commission. Escalade’s future financial performance could differ materially from the expectations of management contained herein. Escalade undertakes no obligation to release revisions to these forward-looking statements after the date of this report. 4 Escalade, Incorporated and Subsidiaries Consolidated Statements of Operations (Unaudited) Three Months Ended Six Months Ended All Amounts in Thousands Except Per Share Data June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Net Sales $ 57,702 $ 54,333 $ 113,487 $ 109,812 Costs and Expenses Cost of products sold 42,588 40,896 81,224 81,585 Selling, administrative and general expenses 12,476 10,249 23,209 20,820 Amortization 579 567 1,160 1,134 Tariff recovery (9,875 ) -- (9,875 ) -- Operating Income 11,934 2,621 17,769 6,273 Other Income (Expense) Interest expense (176 ) (213 ) (364 ) (457 ) Interest income 426 -- 500 -- Other income 18 51 31 82 Income Before Income Taxes 12,202 2,459 17,936 5,898 Provision for Income Taxes 2,771 634 4,124 1,454 Net Income $ 9,431 $ 1,825 $ 13,812 $ 4,444 Earnings Per Share Data: Basic earnings per share $ 0.68 $ 0.13 $ 1.00 $ 0.32 Diluted earnings per share $ 0.68 $ 0.13 $ 1.00 $ 0.32 Dividends declared $ 0.1525 $ 0.1500 $ 0.3025 $ 0.3000 5 Consolidated Balance Sheets (Unaudited) All Amounts in Thousands Except Share Information June 30, 2026 December 31, 2025 June 30, 2025 (Unaudited) (Audited) (Unaudited) ASSETS Current Assets: Cash and cash equivalents $ 16,392 $ 11,878 $ 10,422 Receivables, less allowance of $1,122; $1,226; and $595; respectively 44,612 46,315 41,926 Inventories 71,184 68,474 72,672 Prepaid expenses 3,118 3,351 2,449 Prepaid income tax -- 557 402 Other current assets 9,042 -- -- TOTAL CURRENT ASSETS 144,348 130,575 127,871 Property, plant and equipment, net 22,303 22,355 21,827 Operating lease right-of-use assets 1,233 1,276 1,428 Intangible assets, net 24,284 25,445 24,703 Goodwill 42,326 42,326 42,326 Other assets 24 132 184 TOTAL ASSETS $ 234,518 $ 222,109 $ 218,339 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Current portion of long-term debt $ 14,881 $ 7,143 $ 7,143 Trade accounts payable 15,342 9,150 14,120 Accrued liabilities 12,536 13,680 9,086 Income tax payable 1,571 -- -- Current operating lease liabilities 625 510 496 TOTAL CURRENT LIABILITIES 44,955 30,483 30,845 Other Liabilities: Long‑term debt -- 11,309 14,881 Deferred income tax liability 6,303 6,303 3,302 Operating lease liabilities 636 798 973 TOTAL LIABILITIES 51,894 48,893 50,001 Stockholders' Equity: Preferred stock: Authorized 1,000,000 shares; no par value, none issued -- -- -- Common stock: Authorized 30,000,000 shares; no par value, issued and outstanding – 13,766,074; 13,696,311; and 13,803,745; shares respectively 2,769 3,013 3,251 Retained earnings 179,855 170,203 165,087 TOTAL STOCKHOLDERS' EQUITY 182,624 173,216 168,338 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 234,518 $ 222,109 $ 218,339 6 Consolidated Statements of Cash Flows (Unaudited) Six Months Ended All Amounts in Thousands June 30, 2026 June 30, 2025 Operating Activities: Net income $ 13,812 $ 4,444 Depreciation and amortization 2,503 2,501 Allowance for credit losses 376 225 Stock-based compensation 875 962 Loss on disposal of assets -- 3 Common stock issued in lieu of bonus to officers 162 124 Director stock compensation -- 118 Changes in assets and liabilities (2,912 ) 8,706 Net cash provided by operating activities 14,816 17,083 Investing Activities: Purchase of property and equipment (1,290 ) (976 ) Net cash used in investing activities (1,290 ) (976 ) Financing Activities: Proceeds from issuance of long-term debt 568 9,046 Payments on long-term debt (4,139 ) (12,618 ) Cash dividends paid (4,160 ) (4,136 ) Purchase of stock (1,281 ) (2,171 ) Net cash used in financing activities (9,012 ) (9,879 ) Net increase in cash and cash equivalents 4,514 6,228 Cash and cash equivalents, beginning of period 11,878 4,194 Cash and cash equivalents, end of period $ 16,392 $ 10,422 Supplemental Cash Flows Information Interest paid $ 313 $ 428 Income taxes paid, net $ 1,996 $ 1,689 7 Reconciliation of GAAP Net Income to Non-GAAP EBITDA (Unaudited) Three Months Ended Six Months Ended All Amounts in Thousands June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Net Income (GAAP) $ 9,431 $ 1,825 $ 13,812 $ 4,444 Interest expense 176 213 364 457 Interest income (426 ) -- (500 ) -- Income tax expense 2,771 634 4,124 1,454 Depreciation and amortization 1,256 1,262 2,503 2,501 EBITDA (Non-GAAP) $ 13,208 $ 3,934 $ 20,303 $ 8,856 8