Everpure, Inc. Q4 FY2024 results: revenue $790 million, down 2.5% on the year

Everpure, Inc. (P) reported revenue of $790 million for Q4 FY2024, the quarter ended 4 February 2024, down 2.5% on the same quarter a year earlier. Net income was $65 million, down 12.1% on the year, and diluted earnings per share $0.22. The figures are the company's own, from the 10-K it filed with the SEC on 1 April 2024.

Revenue$790 milliondown 2.5%

Net income$65 milliondown 12.1%

Diluted EPS$0.22

QuarterQ4 FY2024ended 4 February 2024

The quarter, against the one before and a year earlier

Line	Q4 FY2024	Q3 FY2024	A year earlier	Change on the year
Revenue	790	763	n/a	n/a
Cost of revenue	221	210	n/a	n/a
Gross profit	569	553	n/a	n/a
Gross margin	72.0%	72.5%	n/a
Research and development	187	182	n/a	n/a
Operating income	57.4	74.2	n/a	n/a
Operating margin	7.3%	9.7%	n/a
Interest expense	2.0	2.1	n/a	n/a
Pre-tax income	70.8	79.4	n/a	n/a
Income tax	5.4	9.0	n/a	n/a
Effective tax rate	7.6%	11.3%	n/a
Net income	65.4	70.4	n/a	n/a
Net margin	8.3%	9.2%	n/a
Diluted EPS	$0.22	$0.21	n/a	n/a

$ million except per share. Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q4 FY2024	Q3 FY2024	A year earlier	Change on the year
Operating cash flow	244	158	n/a	n/a
Capital expenditure	43.6	45.1	n/a	n/a
Free cash flow	201	113	n/a	n/a
Free cash flow margin	25.4%	14.9%	n/a
Depreciation and amortisation	30.1	28.7	n/a	n/a
Share-based compensation	76.2	88.0	n/a	n/a
Buybacks	21.5	22.5	n/a	n/a
Diluted shares, weighted	333m	330m	n/a	n/a
Shares outstanding at period end	325m	316m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q4 FY2024	Q3 FY2024	A year earlier	Change on the year
Total assets	3,656	3,356	n/a	n/a
Cash and equivalents	703	529	n/a	n/a
Receivables	662	636	n/a	n/a
Inventory	42.7	46.2	n/a	n/a
Goodwill	361	361	n/a	n/a
Long-term debt	100	100	n/a	n/a
Operating lease liabilities	123	122	n/a	n/a
Finance lease liabilities	0.2	0.4	n/a	n/a
Shareholders' equity	1,270	1,148	n/a	n/a

Quarterly results, the last 12 quarters

	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026	Q4 FY2026 *	Q1 FY2027	Q2 FY2027
Revenue	763	790	693	764	831	880	778	861	964	1,059	1,053	1,186
Cost of revenue	210	221	198	224	248	286	242	257	267	319	330	375
Gross profit	553	569	496	540	583	594	536	604	697	740	723	811
Gross margin	72%	72%	71%	71%	70%	68%	69%	70%	72%	70%	69%	68%
R&D	182	187	194	195	200	215	222	242	256	243	259	294
Operating income	74.2	57.4	-41.8	24.9	59.7	42.5	-31.2	4.9	53.9	87.2	19.9	63.2
Operating margin	10%	7%	-6%	3%	7%	5%	-4%	1%	6%	8%	2%	5%
Interest expense	2.1	2.0	2.0	2.0	1.9	1.8	1.8	1.1	0.3	0.3	0.2	0.3
Pre-tax income	79.4	70.8	-27.7	44.3	76.8	54.4	0.5	50.6	65.7	108	33.9	72.2
Tax rate	11%	8%	n/a	19%	17%	22%	2992%	7%	17%	7%	29%	-3%
Net income	70.4	65.4	-35.0	35.7	63.6	42.4	-14.0	47.1	54.8	100	24.1	74.1
Net margin	9%	8%	-5%	5%	8%	5%	-2%	5%	6%	9%	2%	6%
Diluted EPS	$0.21	$0.22	-$0.11	$0.10	$0.19	$0.13	-$0.04	$0.14	$0.16	$0.29	$0.07	$0.21
Operating cash flow	158	244	222	227	97.0	209	284	212	116	268	180	-136
Capital expenditure	45.1	43.6	48.8	60.0	61.8	56.1	72.3	62.0	63.4	66.6	68.4	101
Free cash flow	113	201	173	167	35.2	152	212	150	52.6	201	112	-238
Buybacks	22.5	21.5	0.0	0.0	182	192	120	42.2	53.3	127	84.1	69.0
Shares outstanding	316m	325m	325m	328m	326m	326m	327m	329m	330m	330m	332m	333m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-K for the period ended 4 February 2024, filed 1 April 2024, accession 0001628280-24-013860: the filing on EDGAR. All of Everpure, Inc.'s filings: EDGAR company page.

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