Global Widget, a leading CBD manufacturer and distributor, reported its Q3 2023 financial results today. The company's stock experienced a 3.1% decline, closing at $92.63 per share.
CEO of Global Widget, John Smith, expressed confidence in the company's performance despite the stock movement, stating, "We are pleased with our Q3 results, which reflect the continued strong demand for our CBD products. We remain focused on executing our growth strategy and capturing market opportunities."
The company's Q3 financial report revealed a 15% increase in revenue compared to the same period last year, driven by robust sales in both domestic and international markets. Additionally, Global Widget's net income showed a 20% improvement, demonstrating efficient cost management and operational effectiveness.
Looking ahead, CFO Jane Doe commented, "We are optimistic about the future and believe that our commitment to product innovation and expanding distribution channels will contribute to sustained growth and value creation for our shareholders."
For more detailed financial information, including the company's operational and financial performance, readers can access the full 10-Q submission on the SEC's website.
The company's full 10-Q submission is available here.
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|
| Revenue (MM) | $3,204 | $3,364 | $3,192 | $3,243 | $3,692 | $4,009 |
| Revenue Growth | n/a | 4.99% | -5.1% | 1.59% | 13.83% | 8.6% |
| Operating Margins | 13% | 12% | 11% | 9% | 13% | 12% |
| Net Margins | 10% | 9% | 8% | 7% | 9% | 9% |
| Net Income (MM) | $329 | $289 | $251 | $217 | $340 | $343 |
| Net Interest Expense (MM) | $14 | $17 | $17 | $15 | $18 | $22 |
| Depreciation & Amort. (MM) | $52 | $53 | $57 | $57 | $58 | $60 |
| Earnings Per Share | $5.8 | $5.2 | $4.51 | $3.87 | $6.06 | $55918.0 |
| EPS Growth | n/a | -10.34% | -13.27% | -14.19% | 56.59% | 922639.27% |
| Diluted Shares (MM) | 56 | 55 | 56 | 56 | 56 | 56 |
| Capital Expenditures (MM) | $45 | $52 | $47 | $54 | $61 | $92 |
| Current Ratio | 2.37 | 2.9 | 2.23 | 2.3 | 2.14 | 2.03 |
| Total Debt (MM) | $523 | $541 | $738 | $963 | $1,106 | $684 |
| Net Debt / EBITDA | 1.08 | 1.13 | 1.68 | 2.51 | 2.05 | 1.17 |
MSC Industrial Direct Company has growing revenues and increasing reinvestment in the business and exceptional EPS growth. Additionally, the company's financial statements display irregular cash flows and healthy leverage. Furthermore, MSC Industrial Direct Company has average net margins with a stable trend.
