Superior Group of Companies reported its fourth quarter and full-year 2024 results, with full-year net sales growing 4% to $565.7 million, up from $543 million in 2023. Full-year diluted EPS increased 35% to $0.73, compared to $0.54 in the prior year.
For the fourth quarter of 2024, net sales declined to $145.4 million from $147.2 million in Q4 2023, and net income decreased to $2.1 million or $0.13 per diluted share, compared to $3.6 million or $0.22 per diluted share in Q4 2023. The company's 2025 full-year outlook forecasts net sales in the range of $585 million to $595 million and diluted EPS between $0.75 and $0.82.
The Board of Directors approved a new stock repurchase plan, authorizing the company to repurchase up to an additional $17.5 million worth of its common stock. This plan follows the completion of a previous $10 million authorization, under which $7.4 million was used to repurchase 523,472 shares through year-end 2024.
Additionally, on March 7, 2025, the company entered into a Second Amendment to its Credit Agreement, increasing the allowable restricted payments to $30 million in any fiscal year, up from $20 million. This amendment provides greater flexibility for paying dividends and funding share repurchases.
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