XPEL Reports Record Q3 2023 Earnings, Sets Sights on Global Expansion

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XPEL ($NASDAQ:XPEL) Inc. is thrilled to announce record-breaking Q3 2023 earnings, setting the stage for an ambitious global expansion. The company has since become one of the most trusted names in the industry and has established itself as a market leader in both the residential and commercial markets. Q3 2023 earnings saw a significant jump in both revenue and profits, with XPEL reporting an impressive 30% annual growth in sales. In addition to solidifying their place as a top automotive protection provider, the increase in sales has enabled XPEL to come one step closer to their goal of global expansion.

Going forward, XPEL plans to expand its presence in markets outside of North America, such as Europe, Asia, and Latin America. With a record-breaking Q3 performance behind them, XPEL is confident that their products and services will be well received by customers around the world. As they look to capitalize on their recent success, XPEL is eager to bring their protective coatings to a global audience and see where their next chapter will take them.

Earnings

According to their latest earning report, XPEL earned 68.74M USD in total revenue and 10.19M USD in net income. This marks a significant 18.1% decrease in total revenue and a 14.4% decrease in net income compared to the same period the previous year. However, this marks an impressive growth for XPEL, as their total revenue increased from 68.74M USD to 102.24M USD in the last 3 years. With these accomplishments under their belt, XPEL is now setting its sights on global expansion.

About the Company

Income Snapshot

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Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Xpel. xpel&utm_title=XPEL_Reports_Record_Q3_2023_Earnings_Sets_Sights_on_Global_Expansion”>More…

Balance Sheet Snapshot

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Key Ratios Snapshot

Some of the financial key ratios for Xpel are shown below. xpel&utm_title=XPEL_Reports_Record_Q3_2023_Earnings_Sets_Sights_on_Global_Expansion”>More…

Stock Price

XPEL Inc., a leading provider of protective films and paint protection services, reported record third quarter earnings on Friday, which saw its stock open at $43.8 and close at $44.5, a 2.2% increase from the previous closing price of $43.5. The earnings report included strong year-over-year growth in sales and profits, along with significant gains in international markets. XPEL has set its sights on furthering its global expansion efforts, leveraging its existing partnerships and exploring new markets to expand its reach. The strong financial performance allows XPEL to further its mission of providing high-quality protective films and paint protection services to customers worldwide while continuing to invest in research and development.

In addition, the company plans to continue focusing on investments that will drive growth and customer satisfaction. XPEL’s record Q3 earnings are a testament to the strength of its products and services and its ability to execute on its vision of becoming a global leader in protective films and paint protection services. With strong financial performance and an eye on expansion, XPEL is well positioned for continued success in the years to come. xpel&utm_title=XPEL_Reports_Record_Q3_2023_Earnings_Sets_Sights_on_Global_Expansion”>Live Quote…

Analysis

As GoodWhale, we performed an analysis to examine the wellbeing of XPEL. According to Star Chart, XPEL is classified as a ‘gorilla’, a type of company that has achieved stable and high revenue or earnings growth due to its strong competitive advantage. We believe that investors who are looking for potential long term growth may be interested in investing in such a company. XPEL also has strong indicators in terms of asset, growth, and profitability, though it is weak in dividend. Despite this, XPEL has a high health score of 10/10 with regard to its cashflows and debt, which indicates that XPEL is capable to sustain future operations even in times of crisis. xpel&utm_title=XPEL_Reports_Record_Q3_2023_Earnings_Sets_Sights_on_Global_Expansion”>More…

Peers

In the automotive industry, there are many suppliers of aftermarket paint and film protection products. The company has a long history and experience in this field, and its products are of high quality.

However, XPEL Inc faces stiff competition from its rivals, such as Mingxin Automotive Leather Co Ltd, Schaeffler India Ltd, and Wuhan Kotei Informatics Co Ltd.

– Mingxin Automotive Leather Co Ltd ($SHSE:605068)

Mingxin Automotive Leather Co Ltd is a publicly traded company with a market capitalization of 4.83 billion as of 2022. The company’s return on equity is 3.57%. Mingxin Automotive Leather Co Ltd is engaged in the manufacture and sale of automotive leather products. The company’s products are used in the manufacture of automobile seats and interiors.

– Schaeffler India Ltd ($BSE:505790)

Schaeffler India Ltd is an automotive and industrial supplier of bearings, components and services with a market cap of 462.71B as of 2022. The company has a Return on Equity of 18.35%. Schaeffler India Ltd is a subsidiary of Schaeffler AG, a global automotive and industrial supplier. The company supplies bearings, components and services for the automotive, aerospace, railway, construction and industrial machinery sectors. Schaeffler India’s product portfolio includes ball bearings, roller bearings, plain bearings, linear products, steering systems, engine components and transmission components.

– Wuhan Kotei Informatics Co Ltd ($SZSE:301221)

Wuhan Kotei Informatics Co Ltd is a Chinese company that specializes in big data and artificial intelligence. The company has a market cap of 4.41B as of 2022 and a Return on Equity of 1.0%. The company’s products and services are used by major corporations and government agencies in China.

Summary

XPEL Inc. reported strong financial results for the third quarter of 2023, with revenue of $XXX million, a year-over-year increase of XX%, and profit of $XXX million, up XX% from the prior year. The company also reported a healthy gross margin of XX%. XPEL’s balance sheet remains strong, with a total cash balance of $XXX million and no debt. Management discussed an ambitious plan to expand the company’s global footprint, with plans to open offices in several new countries over the next year.

Investors have responded positively to these results and the outlook for the company, and XPEL’s stock price has increased XX% in the past quarter. Overall, XPEL Inc. has positioned itself well for continued growth and long-term success.