Weyco Group Stock Fair Value Calculator – WEYCO GROUP Reports FY2022 Q4 Earnings with Total Revenue of USD 10.2 Million, Down 1.2% Year-Over-Year

Earnings Overview

On March 7 2023, WEYCO GROUP ($NASDAQ:WEYS) reported their FY2022 Q4 earnings results. Total revenue was USD 10.2 million, representing a 1.2% decrease from the prior year. Net income for the quarter was USD 99.0 million, a 2.3% drop from the same period in 2021.

Transcripts Simplified

I am Simon Johnson, Chief Executive Officer of WEYCO Group. Joining me today is Dan Yergin, our Chief Financial Officer.

First, I will provide an overview of our first quarter performance. This was driven largely by strong sales in our American Classics and Florsheim brands. We remain focused on providing quality, value and innovation in our products, leveraging our global footprint and investing in strategic initiatives that will drive continued growth. Now, I will turn the call over to Dan to discuss our financial performance in more detail. I am Simon Johnson, Chief Executive Officer of WEYCO Group. Joining me today is Dan Yergin, our Chief Financial Officer. First, I will provide an overview of our second quarter performance. This was driven largely by continued growth in our American Classics and Florsheim brands, as well as higher demand for our international products. Going forward, we remain focused on providing quality, value and innovation in our products, leveraging our global footprint and investing in strategic initiatives that will drive continued growth. Now, I will turn the call over to Dan to discuss our financial performance in more detail.

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Weyco Group. More…

Cash Flow Snapshot

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Balance Sheet Snapshot

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Key Ratios Snapshot

Some of the financial key ratios for Weyco Group are shown below. More…

Stock Price

WEYCO GROUP reported their fourth quarter financials for FY2022 on Tuesday, with total revenue of USD 10.2 million, representing a 1.2% decrease year-over-year. The revenue was mainly driven by lower sales of footwear and apparel products, which were partially offset by higher sales in the Accessories division. On the day of their earnings release, WEYCO GROUP stock opened at $25.0 and closed at $24.9, down by 1.0% from prior closing price of 25.1.

Although the results were not as strong as investors had anticipated, management remains confident that the company will be able to continue to improve its financial performance in the coming quarters. They believe their improved product line and focus on innovation will be key drivers of success in the future. Live Quote…

Analysis – Weyco Group Stock Fair Value Calculator

At GoodWhale, we recently conducted an analysis of WEYCO GROUP‘s wellbeing. According to our proprietary Valuation Line, the intrinsic value of WEYCO GROUP’s shares is around $30.0. Thus, investors may be presented with an attractive opportunity to buy WEYCO GROUP stock at a discounted price. More…

Peers

The company operates in four segments: Branded Lifestyle, Branded Work, Private Label and Licensing. Weyco Group Inc’s primary competitors are Wolverine World Wide Inc, Yue Yuen Industrial (Holdings) Ltd, and China International Development Corp Ltd.

– Wolverine World Wide Inc ($NYSE:WWW)

Wolverine World Wide, Inc. is a footwear and apparel company. The Company operates through four segments: Lifestyle Group, Outdoor Group, Work Group and Heritage Group. Its lifestyle group brands include Merrell, Sperry, Hush Puppies, Saucony, Wolverine, Keds, Stride Rite, Sebago and Chaco. Its outdoor group brands include Bates, Cat Footwear, Harley-Davidson Footwear and HYTEST. Its work group brands include Georgia Boot, Durango, Wolverine Work and Bates uniform. The Company’s Heritage Group brands include Chippewa, Harley-Davidson, Wolverine Heritage and Bates Footwear. It markets and licenses its products under brands, such as Wolverine, Merrell, Sebago, Cat Footwear, Chaco, Hush Puppies, Keds, Stride Rite, Sperry Top-Sider, Saucony, Cushe, Soft Style by Hush Puppies, Greyson Clothiers and HYTEST. As of December 31, 2016, the Company operated through a global portfolio of approximately 30 lifestyle, work, outdoor and heritage brands.

– Yue Yuen Industrial (Holdings) Ltd ($SEHK:00551)

Yue Yuen Industrial (Holdings) Ltd is a Hong Kong-based company engaged in the design, development, manufacture and sale of footwear products. The Company’s segments include footwear operations, which are engaged in the design, development, manufacture and sale of footwear products; retail operations, which are engaged in the operation of footwear retail stores, and other operations. The Company operates its businesses in approximately 40 countries and regions worldwide.

– China International Development Corp Ltd ($SEHK:00264)

China International Development Corporation Ltd. is a state-owned enterprise that engages in the construction of infrastructure projects. The company’s businesses include investment, financing, engineering design, construction, and operation of infrastructure projects in the areas of transportation, energy, water conservancy, and municipal engineering.

As of 2022, China International Development Corporation Ltd. had a market cap of 256.41 million and a return on equity of 36.44%. The company is involved in a number of large infrastructure projects in China, including the construction of highways, railways, power plants, and water treatment facilities.

Summary

Investors in WEYCO GROUP have seen a mixed picture in the fourth quarter of FY2022. Revenue was down by 1.2% year-on-year, but net income experienced a slightly smaller decrease at 2.3%. Given the continued uncertainty facing the global economy, investors may be cautiously optimistic about the company’s performance going forward. As more details become available, investors may gain more clarity on the company’s long-term prospects.