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Park Aerospace (PKE) Q1 FY2024 earnings: revenue $16 million, up 21.7% on the year

Park Aerospace Corp. (PKE) reported revenue of $16 million for Q1 FY2024, the quarter ended 2 June 2023, up 21.7% on the same quarter a year earlier. The figures are the company's own, from the 10-Q it filed with the SEC on 17 July 2024.

Revenue$16 millionup 21.7%
Net income
Diluted EPSn/a
QuarterQ1 FY2024ended 2 June 2023

The quarter, against the one before and a year earlier

LineQ1 FY2024Q4 FY2023Q1 FY2023Change on the year
Revenue15.613.512.8+21.7%
Cost of revenuen/a9.78.7n/a
Gross profitn/a3.94.1n/a
Gross marginn/a28.5%32.0%
Selling, general and administrativen/a1.61.6n/a
Operating incomen/a2.22.5n/a
Operating marginn/a16.4%19.2%
Pre-tax incomen/a2.62.6n/a
Income taxn/a-2.10.7n/a
Effective tax raten/a-77.9%26.3%
Net incomen/a4.71.9n/a
Net marginn/a34.8%14.9%
Diluted EPSn/a$0.23$0.09n/a
$ million except per share.
Read moreFree 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

LineQ1 FY2024Q4 FY2023Q1 FY2023Change on the year
Operating cash flown/a4.40.0n/a
Capital expendituren/a0.30.1n/a
Free cash flown/a4.1-0.0n/a
Free cash flow marginn/a30.0%-0.3%
Cash from investingn/a-2.7-6.5n/a
Cash from financingn/a-2.0-2.0n/a
Depreciation and amortisationn/a0.30.3n/a
Share-based compensationn/a0.10.1n/a
Buybacksn/a0.00.0n/a
Dividends paidn/a2.02.0n/a
Dividend per sharen/an/a$0.10n/a
Diluted shares, weightedn/a21m21mn/a
Shares outstanding at period end20m20m20m-1.1%

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

LineQ1 FY2024Q4 FY2023Q1 FY2023Change on the year
Shareholders' equityn/a116135n/a
Debtn/a0.00.0n/a
Operating lease liabilitiesn/a0.10.2n/a
Other liabilitiesn/a43.326.2n/a
Total liabilities and equityn/a159161n/a
Fixed assetsn/a24.324.2n/a
Intangible assetsn/a0.0n/an/a
Investmentsn/a101103n/a
Cash and equivalentsn/a4.24.3n/a
Receivablesn/a10.09.0n/a
Inventoryn/a6.86.6n/a
Other assetsn/a12.914.0n/a
Total assetsn/a159161n/a

Questions

What was Park Aerospace's revenue in Q1 FY2024?

Park Aerospace (PKE) reported revenue of $16 million for Q1 FY2024, the quarter ended 2 June 2023, up 21.7% on the same quarter a year earlier.

When did Park Aerospace report Q1 FY2024 results?

Park Aerospace filed its 10-Q for the quarter ended 2 June 2023 with the SEC on 17 July 2024.

Quarterly results, the last 20 quarters

Q3 FY2022Q4 FY2022Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026Q4 FY2026 *Q1 FY2027Q2 FY2027
Revenue13.912.512.813.913.913.515.612.511.616.314.016.714.416.915.416.417.324.218.320.8
Cost of revenue10.08.38.79.89.49.7n/a8.48.511.99.912.010.612.010.711.311.417.311.913.7
Gross profit3.84.24.14.14.43.9n/a4.13.24.54.14.83.85.04.75.15.96.96.47.1
Gross margin28%34%32%29%32%28%n/a33%27%27%29%28%27%29%31%31%34%29%35%34%
SG&A1.61.51.61.71.51.6n/a1.91.81.92.02.12.02.12.32.32.32.32.42.4
Operating income2.22.62.52.42.92.2n/a2.21.42.62.12.61.82.92.42.83.64.64.04.7
Operating margin16%21%19%17%21%16%n/a18%12%16%15%16%13%17%16%17%21%19%22%23%
Pre-tax income2.32.72.62.63.22.6n/a2.41.62.91.42.82.13.22.83.24.05.0n/a5.6
Tax rate25%28%26%27%31%-78%n/a26%26%8%27%27%26%61%25%26%26%24%n/a19%
Net income1.72.01.91.92.24.7n/a1.71.22.71.02.11.61.22.12.43.03.83.54.5
Net margin13%16%15%14%16%35%n/a14%10%16%7%12%11%7%14%15%17%16%19%22%
Diluted EPS$0.08$0.10$0.09$0.09$0.11$0.23n/a$0.09$0.06$0.13$0.05$0.10$0.08$0.06$0.10$0.12$0.15$0.19$0.17$0.21
Operating cash flow0.34.90.0-1.73.84.4n/a-2.81.85.3-0.41.42.71.01.6-2.15.16.92.7-1.4
Capital expenditure1.10.80.10.60.10.3n/a0.20.10.20.00.20.10.60.50.20.80.50.10.4
Free cash flow-0.84.2-0.0-2.33.74.1n/a-3.01.75.1-0.41.32.70.31.1-2.34.36.42.6-1.8
Buybacks0.0n/a0.00.00.00.0n/a1.20.00.00.01.92.40.02.20.00.00.00.00.0
Dividends paid2.02.02.02.02.02.0n/a2.52.52.52.52.52.52.52.52.52.52.52.62.7
Shares outstanding20m20m20m20m20m20m20m20m20m20m20m20m20m20m20m20m20m21m22m22m
Filing10-K10-K10-K10-K10-K10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* 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. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. 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.

10-Q for the period ended 2 June 2023, filed 17 July 2024: the filing.