Annonce • 4h
Rocky Brands, Inc. Provides Earnings Guidance for the Third Quarter, Fourth Quarter and Full Year of 2026 Rocky Brands, Inc. provided earnings guidance for the third quarter, fourth quarter and full year of 2026. From a high level, they are taking up full-year guidance to reflect Second Quarter top-line outperformance and are modestly raising sales projections for the third and fourth quarter.
Based on second quarter performance and updated bookings for the second half, as well as the net impact of tariffs, they are raising guidance for 2026. They now expect revenue to increase approximately 8.5% over 2025, with the fourth quarter growing modestly faster than the third quarter. They also are continuing to see higher inbound freight rates, along with increased component costs due to higher oil prices. This is putting some additional pressure on gross margins, which are now forecasted to be approximately 40%, excluding the actual and expected tariff refund with third quarter and fourth quarter gross margins improving sequentially into the low 40% range. Since last earnings call, they incurred a $1.1 million write-off in accounts receivable due to a customer bankruptcy, and they are experiencing higher outbound freight costs due to fuel surcharges, as well as a higher mix of retail segment sales. They are also stepping up investment in digital advertising to capitalize on the momentum in the fast-growing D2C business. Based on these factors, they are now expecting SG&A as a percentage of sales to increase slightly from prior year. With an additional benefit of roughly $2 million expected in third quarter from the tariff benefit, the full year gross benefit will be approximately $20 million or $10 million on a net basis. Their plan is to invest a portion of these proceeds back into the business, such as investing and expanding their distribution center as well as paying down debt. This all translates into EPS excluding the actual and expected tariff refund similar to last year's $3.26 and EPS on a reported basis to be in the neighborhood of $5 and finally on a net basis which excludes the $20 million refund and the $10 million incremental IEEPA tariffs that flow through the P&L, EPS would be around $4 a share. Valuation Update With 7 Day Price Move • Jul 29
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €41.40, the stock trades at a trailing P/E ratio of 19.9x. Average forward P/E is 16x in the Luxury industry in Germany. Total returns to shareholders of 130% over the past three years. Annonce • Jul 22
Rocky Brands, Inc. to Report Q2, 2026 Results on Jul 28, 2026 Rocky Brands, Inc. announced that they will report Q2, 2026 results on Jul 28, 2026 Declared Dividend • May 21
First quarter dividend of US$0.17 announced Shareholders will receive a dividend of US$0.17. Ex-date: 1st June 2026 Payment date: 15th June 2026 Dividend yield will be 1.9%, which is higher than the industry average of 0.8%. Sustainability & Growth Dividend is well covered by both earnings (25% earnings payout ratio) and cash flows (47% cash payout ratio). The dividend has increased by an average of 3.5% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to decline by 72% to shift the payout ratio to a potentially unsustainable range, which is more than the 5.9% EPS decline seen over the last 5 years. Board Change • May 21
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 6 highly experienced directors. Independent Director Dwight Smith was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Annonce • May 20
Rocky Brands, Inc. Declares Quarterly Cash Dividend, Payable on June 15, 2026 Rocky Brands, Inc. announced that its board of directors has declared a quarterly cash dividend of $0.17 per share of outstanding common stock, which will be paid on June 15, 2026, to all shareholders of record as of the close of business on June 1, 2026. Annonce • Apr 30
Rocky Brands, Inc., Annual General Meeting, Jun 03, 2026 Rocky Brands, Inc., Annual General Meeting, Jun 03, 2026. Location: ohio university inn & conference center, 331 richland avenue, ohio 45701, athens United States Annonce • Apr 22
Rocky Brands, Inc. to Report Q1, 2026 Results on Apr 28, 2026 Rocky Brands, Inc. announced that they will report Q1, 2026 results After-Market on Apr 28, 2026 Annonce • Feb 25
Rocky Brands, Inc. (NasdaqGS:RCKY) announces an Equity Buyback for $7.5 million worth of its shares. Rocky Brands, Inc. (NasdaqGS:RCKY) announces a share repurchase program. Under the program, the company will repurchase up to $7.5 million worth of its common stock. The plan will be valid until February 23, 2027. Annonce • Nov 18
Rocky Brands Declares Quarterly Cash Dividend, Payable on December 15, 2025 Rocky Brands, Inc. announced that its board of directors has declared a quarterly cash dividend of $0.155 per share of outstanding common stock, which will be paid on December 15, 2025, to all shareholders of record as of the close of business on December 1, 2025. Annonce • Oct 29
Rocky Brands, Inc. Reaffirms Earnings Guidance for the Year 2025 Rocky Brands, Inc. announced that based on the third quarter performance and current view of the remainder of the year 2025, the company is reiterating its prior guidance for 2025. The company still expect revenue to increase between 4% to 5% compared to 2024 levels with full year gross margins down approximately 70 basis points to between 38% and 39%, consistent with its previous outlook. Finally, the company still expect 2025 EPS to increase approximately 10% over last year's $2.54. Annonce • Oct 22
Rocky Brands, Inc. to Report Q3, 2025 Results on Oct 28, 2025 Rocky Brands, Inc. announced that they will report Q3, 2025 results at 4:00 PM, US Eastern Standard Time on Oct 28, 2025 Annonce • Aug 19
Rocky Brands, Inc. Declares Quarterly Cash Dividend, Payable on September 16, 2025 Rocky Brands, Inc. announced that its board of directors has declared a quarterly cash dividend of $0.155 per share of outstanding common stock, which will be paid on September 16, 2025, to all shareholders of record as of the close of business on September 2, 2025. Annonce • Jul 23
Rocky Brands, Inc. to Report Q2, 2025 Results on Jul 29, 2025 Rocky Brands, Inc. announced that they will report Q2, 2025 results After-Market on Jul 29, 2025 Annonce • May 20
Rocky Brands, Inc. Declares Quarterly Cash Dividend, Payable on June 16, 2025 Rocky Brands, Inc. announced that its board of directors has declared a quarterly cash dividend of $0.155 per share of outstanding common stock, which will be paid on June 16, 2025 to all shareholders of record as of the close of business on June 2, 2025. Annonce • Apr 30
Rocky Brands, Inc., Annual General Meeting, Jun 03, 2025 Rocky Brands, Inc., Annual General Meeting, Jun 03, 2025. Location: ohio university inn &conference center, located at 331 richland avenue, ohio, 45701., athens United States Annonce • Apr 23
Rocky Brands, Inc. to Report Q1, 2025 Results on Apr 29, 2025 Rocky Brands, Inc. announced that they will report Q1, 2025 results at 4:00 PM, US Eastern Standard Time on Apr 29, 2025 Annonce • Feb 28
Rocky Brands, Inc. Reports Impairment of Trademark for the Three Months Ended December 31, 2024 Rocky Brands, Inc. reported impairment of trademark for the three months ended December 31, 2024. For the three months, the company reported impairment of trademarks Of $4,000,000. Annonce • Feb 26
Rocky Brands, Inc. (NasdaqGS:RCKY) announces an Equity Buyback for $7.5 million worth of its shares. Rocky Brands, Inc. (NasdaqGS:RCKY) announces a share repurchase program. Under the program, the company will repurchase up to $7.5 million worth of its common stock. The plan will be valid for 12 months. Annonce • Feb 20
Rocky Brands, Inc. to Report Q4, 2024 Results on Feb 25, 2025 Rocky Brands, Inc. announced that they will report Q4, 2024 results After-Market on Feb 25, 2025 Annonce • Feb 19
Rocky Brands, Inc. Declares Quarterly Cash Dividend, Payable on March 17, 2025 Rocky Brands, Inc. announced that its board of directors has declared a quarterly cash dividend of $0.155 per share of outstanding common stock, which will be paid on March 17, 2025 to all shareholders of record as of the close of business on March 3, 2025. Annonce • Nov 19
Rocky Brands, Inc. Declares Quarterly Cash Dividend, Payable on December 17, 2024 Rocky Brands, Inc. announced that its board of directors has declared a quarterly cash dividend of $0.155 per share of outstanding common stock, which will be paid on December 17, 2024 to all shareholders of record as of the close of business on December 3, 2024. Reported Earnings • Nov 01
Third quarter 2024 earnings released: EPS: US$0.71 (vs US$0.93 in 3Q 2023) Third quarter 2024 results: EPS: US$0.71 (down from US$0.93 in 3Q 2023). Revenue: US$114.6m (down 8.8% from 3Q 2023). Net income: US$5.28m (down 23% from 3Q 2023). Profit margin: 4.6% (down from 5.4% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.1% p.a. on average during the next 2 years, compared to a 6.5% growth forecast for the Luxury industry in Europe. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Annonce • Oct 24
Rocky Brands, Inc. to Report Q3, 2024 Results on Oct 30, 2024 Rocky Brands, Inc. announced that they will report Q3, 2024 results After-Market on Oct 30, 2024 Declared Dividend • Aug 26
Second quarter dividend of US$0.15 announced Shareholders will receive a dividend of US$0.15. Ex-date: 3rd September 2024 Payment date: 17th September 2024 Dividend yield will be 2.2%, which is higher than the industry average of 0.8%. Sustainability & Growth Dividend is well covered by both earnings (31% earnings payout ratio) and cash flows (6% cash payout ratio). The dividend has increased by an average of 4.5% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend. Annonce • Aug 20
Rocky Brands, Inc. Declares Quarterly Cash Dividend, Payable on September 17, 2024 Rocky Brands, Inc. announced that its board of directors has declared a quarterly cash dividend of $0.155 per share of outstanding common stock, which will be paid on September 17, 2024 to all shareholders of record as of the close of business on September 3, 2024. Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to €25.60, the stock trades at a trailing P/E ratio of 13.9x. Average forward P/E is 16x in the Luxury industry in Germany. Total loss to shareholders of 38% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €10.93 per share. Reported Earnings • Jul 31
Second quarter 2024 earnings released: US$0.17 loss per share (vs US$0.37 loss in 2Q 2023) Second quarter 2024 results: US$0.17 loss per share (improved from US$0.37 loss in 2Q 2023). Revenue: US$98.3m (down 1.6% from 2Q 2023). Net loss: US$1.24m (loss narrowed 54% from 2Q 2023). Revenue is forecast to grow 3.5% p.a. on average during the next 2 years, compared to a 7.6% growth forecast for the Luxury industry in Europe. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Annonce • Jul 24
Rocky Brands, Inc. to Report Q2, 2024 Results on Jul 30, 2024 Rocky Brands, Inc. announced that they will report Q2, 2024 results After-Market on Jul 30, 2024 Declared Dividend • May 27
First quarter dividend of US$0.15 announced Shareholders will receive a dividend of US$0.15. Ex-date: 3rd June 2024 Payment date: 17th June 2024 Dividend yield will be 1.8%, which is higher than the industry average of 0.8%. Sustainability & Growth Dividend is well covered by both earnings (34% earnings payout ratio) and cash flows (7% cash payout ratio). The dividend has increased by an average of 4.5% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to decline by 62% to shift the payout ratio to a potentially unsustainable range, which is more than the 2.2% EPS decline seen over the last 5 years. Annonce • May 22
Rocky Brands, Inc. Declares Quarterly Cash Dividend, Payable on June 17, 2024 Rocky Brands, Inc. announced that its board of directors has declared a quarterly cash dividend of $0.155 per share of outstanding common stock, which will be paid on June 17, 2024 to all shareholders of record as of the close of business on June 3, 2024. Valuation Update With 7 Day Price Move • May 07
Investor sentiment improves as stock rises 32% After last week's 32% share price gain to €32.80, the stock trades at a trailing P/E ratio of 19.1x. Average forward P/E is 16x in the Luxury industry in Germany. Total loss to shareholders of 24% over the past three years. Recent Insider Transactions • May 04
Lead Independent Director recently sold €153k worth of stock On the 2nd of May, G. Haning sold around 5k shares on-market at roughly €30.64 per share. This transaction amounted to 19% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €61k more than they bought in the last 12 months. Board Change • May 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 3 highly experienced directors. Independent Director Dwight Smith was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Annonce • May 01
Rocky Brands, Inc., Annual General Meeting, Jun 05, 2024 Rocky Brands, Inc., Annual General Meeting, Jun 05, 2024, at 15:00 US Eastern Standard Time. Location: 331 Richland Avenue Athens, Ohio, 45701 Athens United States Agenda: To elect five Class II Directors of the Company, each to serve for a two-year term expiring at the 2026 Annual Meeting of Shareholders; To hold an advisory vote relating to the compensation of our named executive officers; To approve the Rocky Brands, Inc. 2024 Omnibus Incentive Plan; To ratify the selection of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2024. Annonce • Apr 24
Rocky Brands, Inc. to Report Q1, 2024 Results on Apr 30, 2024 Rocky Brands, Inc. announced that they will report Q1, 2024 results After-Market on Apr 30, 2024 New Risk • Apr 17
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.8x net interest cover). Earnings have declined by 1.3% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.8% average weekly change). Profit margins are more than 30% lower than last year (2.3% net profit margin). Reported Earnings • Feb 29
Full year 2023 earnings released: EPS: US$1.42 (vs US$2.80 in FY 2022) Full year 2023 results: EPS: US$1.42 (down from US$2.80 in FY 2022). Revenue: US$461.8m (down 25% from FY 2022). Net income: US$10.4m (down 49% from FY 2022). Profit margin: 2.3% (down from 3.3% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to stay flat during the next 2 years compared to a 7.2% growth forecast for the Luxury industry in Europe. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Declared Dividend • Feb 26
Third quarter dividend of US$0.15 announced Shareholders will receive a dividend of US$0.15. Ex-date: 1st March 2024 Payment date: 18th March 2024 Dividend yield will be 2.2%, which is higher than the industry average of 0.8%. Sustainability & Growth Dividend is well covered by both earnings (45% earnings payout ratio) and cash flows (8% cash payout ratio). The dividend has increased by an average of 4.5% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to decline by 51% to shift the payout ratio to a potentially unsustainable range, which is more than the 7.7% EPS decline seen over the last 5 years. Annonce • Feb 22
Rocky Brands, Inc. to Report Q4, 2023 Results on Feb 28, 2024 Rocky Brands, Inc. announced that they will report Q4, 2023 results After-Market on Feb 28, 2024 Annonce • Feb 21
Rocky Brands, Inc. Declares Quarterly Cash Dividend, Payable on March 18, 2024 Rocky Brands, Inc. announced that its board of directors has declared a quarterly cash dividend of $0.155 per share of outstanding common stock, which will be paid on March 18, 2024 to all shareholders of record as of the close of business on March 4, 2024. Annonce • Dec 09
Rocky Brands, Inc. Announces Mike Brooks Provides Notice of His Resignation and Retirement from His Position as Class I Director Effective as of December 31, 2023 On December 7, 2023, Mike Brooks provided the Board of Directors (the “Board”) of Rocky Brands, Inc. (the “Company”) with notice of his resignation and retirement from his position as a Class I director of the Company, effective as of December 31, 2023. Mr. Brooks’ resignation was not due to a disagreement with the Company. The Board recognized Mike Brooks’ years of service to the Company before accepting his resignation and eliminating the directorship left vacant by Mr. Brooks, reducing the size of the Board to a total of nine (9) members. The Board highlighted that Mike Brooks had served on the Company’s Board of Directors since 1992, and he served as Chairman of the Board from January 2005 to May 2021. Mr. Brooks had a distinguished career with the Company serving as Chief Executive Officer from January 2005 until July 2011 and from September 2016 until May 2017. Prior to that, he served as President and Chief Executive Officer of the Company from August 1991 to January 2005. Valuation Update With 7 Day Price Move • Nov 27
Investor sentiment improves as stock rises 73% After last week's 73% share price gain to €26.00, the stock trades at a trailing P/E ratio of 19.2x. Average forward P/E is 14x in the Luxury industry in Germany. Total returns to shareholders of 9.7% over the past three years. Annonce • Nov 17
Rocky Brands, Inc. Declares Quarterly Cash Dividend, Payable on December 15, 2023 Rocky Brands, Inc. announced that its board of directors has declared a quarterly cash dividend of $0.155 per share of outstanding common stock, which will be paid on December 15, 2023 to all shareholders of record as of the close of business on December 1, 2023. Valuation Update With 7 Day Price Move • Nov 08
Investor sentiment improves as stock rises 30% After last week's 30% share price gain to €15.00, the stock trades at a trailing P/E ratio of 15.8x. Average forward P/E is 14x in the Luxury industry in Germany. Total loss to shareholders of 41% over the past three years. Annonce • Nov 03
Rocky Brands, Inc. Provides Sales Guidance for the Fourth Quarter and Full Year of 2023 Rocky Brands, Inc. provided sales guidance for the fourth quarter and full year of 2023. For the quarter, the company expects sales improved sequentially from the third quarter of 2023 and decline in fourth quarter on a year-over-year basis, further moderates compared to recent trends.For the full year, the company expects net sales to be approximately $470 million. New Risk • Nov 03
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 11% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.8x net interest cover). Share price has been highly volatile over the past 3 months (11% average weekly change). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.2% net profit margin). Market cap is less than US$100m (€87.4m market cap, or US$92.8m). Reported Earnings • Nov 02
Third quarter 2023 earnings released: EPS: US$0.93 (vs US$0.78 in 3Q 2022) Third quarter 2023 results: EPS: US$0.93 (up from US$0.78 in 3Q 2022). Revenue: US$125.6m (down 15% from 3Q 2022). Net income: US$6.83m (up 20% from 3Q 2022). Profit margin: 5.4% (up from 3.9% in 3Q 2022). Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Luxury industry in Europe. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has fallen by 22% per year, which means it is performing significantly worse than earnings. Annonce • Oct 25
Rocky Brands, Inc. to Report Q3, 2023 Results on Nov 01, 2023 Rocky Brands, Inc. announced that they will report Q3, 2023 results After-Market on Nov 01, 2023 New Risk • Oct 06
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €94.3m (US$99.9m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.8x net interest cover). Minor Risks Share price has been volatile over the past 3 months (7.2% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.8% net profit margin). Market cap is less than US$100m (€94.3m market cap, or US$99.9m). Upcoming Dividend • Aug 24
Upcoming dividend of US$0.15 per share at 3.3% yield Eligible shareholders must have bought the stock before 31 August 2023. Payment date: 15 September 2023. Payout ratio is a comfortable 50% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of German dividend payers (4.9%). Higher than average of industry peers (0.7%). Annonce • Aug 17
Rocky Brands, Inc. Declares Quarterly Cash Dividend, Payable on September 15, 2023 Rocky Brands, Inc. announced that its board of directors has declared a quarterly cash dividend of $0.155 per share of outstanding common stock, which will be paid on September 15, 2023 to all shareholders of record as of the close of business on September 1, 2023. New Risk • Aug 02
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 29% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.0x net interest cover). Share price has been highly volatile over the past 3 months (11% average weekly change). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.8% net profit margin). Reported Earnings • Aug 02
Second quarter 2023 earnings released: US$0.37 loss per share (vs US$0.13 profit in 2Q 2022) Second quarter 2023 results: US$0.37 loss per share (down from US$0.13 profit in 2Q 2022). Revenue: US$99.8m (down 38% from 2Q 2022). Net loss: US$2.72m (down 395% from profit in 2Q 2022). Revenue is forecast to grow 7.8% p.a. on average during the next 2 years, compared to a 6.8% growth forecast for the Luxury industry in Germany. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Annonce • Jul 26
Rocky Brands, Inc. to Report Q2, 2023 Results on Aug 01, 2023 Rocky Brands, Inc. announced that they will report Q2, 2023 results After-Market on Aug 01, 2023 Upcoming Dividend • May 24
Upcoming dividend of US$0.15 per share at 3.2% yield Eligible shareholders must have bought the stock before 31 May 2023. Payment date: 15 June 2023. Payout ratio is a comfortable 36% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of German dividend payers (4.6%). Higher than average of industry peers (0.9%). Valuation Update With 7 Day Price Move • May 10
Investor sentiment deteriorates as stock falls 30% After last week's 30% share price decline to €18.00, the stock trades at a trailing P/E ratio of 11.6x. Average forward P/E is 17x in the Luxury industry in Germany. Total returns to shareholders of 13% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €7.61 per share. Reported Earnings • May 03
First quarter 2023 earnings released: US$0.054 loss per share (vs US$1.01 profit in 1Q 2022) First quarter 2023 results: US$0.054 loss per share (down from US$1.01 profit in 1Q 2022). Revenue: US$110.4m (down 34% from 1Q 2022). Net loss: US$398.0k (down 105% from profit in 1Q 2022). Revenue is forecast to grow 2.7% p.a. on average during the next 2 years, compared to a 5.9% growth forecast for the Luxury industry in Germany. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 9% per year. Reported Earnings • Feb 26
Full year 2022 earnings released: EPS: US$2.80 (vs US$2.82 in FY 2021) Full year 2022 results: EPS: US$2.80 (down from US$2.82 in FY 2021). Revenue: US$615.5m (up 20% from FY 2021). Net income: US$20.5m (flat on FY 2021). Profit margin: 3.3% (down from 4.0% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 1.4% p.a. on average during the next 2 years, while revenues in the Luxury industry in Germany are expected to grow by 5.6%. Upcoming Dividend • Feb 21
Upcoming dividend of US$0.15 per share at 2.2% yield Eligible shareholders must have bought the stock before 28 February 2023. Payment date: 15 March 2023. Payout ratio is a comfortable 17% but the company is not cash flow positive. Trailing yield: 2.2%. Lower than top quartile of German dividend payers (4.6%). Higher than average of industry peers (1.9%). Annonce • Feb 17
Rocky Brands, Inc. to Report Q4, 2022 Results on Feb 23, 2023 Rocky Brands, Inc. announced that they will report Q4, 2022 results After-Market on Feb 23, 2023 Annonce • Feb 16
Rocky Brands, Inc. Declares Quarterly Cash Dividend, Payable on March 15, 2023 Rocky Brands, Inc. announced that its board of directors has declared a quarterly cash dividend of $0.155 per share of outstanding common stock, which will be paid on March 15, 2023 to all shareholders of record as of the close of business on March 1, 2023. Valuation Update With 7 Day Price Move • Jan 10
Investor sentiment improved over the past week After last week's 18% share price gain to €26.00, the stock trades at a trailing P/E ratio of 7.7x. Average forward P/E is 19x in the Luxury industry in Germany. Total loss to shareholders of 31% over the past year. Annonce • Dec 10
Rocky Brands, Inc. Announces Board Changes Rocky Brands, Inc. announced that Dwight E. Smith has been appointed as a Class I director of the company, effective as of January 1, 2023. Prior to founding Sophisticated Systems, Mr. Smith served in a variety of roles with Software Alternatives, Inc., Cullinet Software, Inc., and IBM.Mr. Smith has served as a member of the Board of The Federal Reserve Bank of Cleveland since 2015 and currently serves as its Chair (such term to expire on December 31, 2022). He also has served as a Board member of SureImpact since February 2022, Nationwide Children's Hospital since 2013, as a Board Member of the Highlights for Children Foundation since 2021, and as a member of the Board of Trustees of OCLC since November 2022. Mr. Smith previously served on the Board of Directors of State Auto Financial Corporation from 2020 to 2022; Choice Legal, Inc. from 2016 to 2022; State Auto Mutual Insurance Company from 2005 to 2022; and CTL Engineering Inc. from 2005 to 2021. Mr. Smith also has extensive prior civic charitable Board experience, including The Columbus Foundation, Columbus State Community College, and Rev1 Ventures. Mr. Smith. graduated from The Ohio State University with a B.S. in Marketing and an MBA in Finance. Rocky Brands is also announcing that Glenn E. Corlett and James L. Stewart are electing to retire form the Board of Directors, effective December 31, 2022. Mr. Corlett has served on Rocky's Board since 2000, including service as a member of the Audit Committee (including as the prior Chairman of the Audit Committee) and previous member of the Nominating and Corporate Governance Committee. Mr. Stewart has served on Rocky's Board since 1996, including service as a Compensation Committee member (including as the prior Chairman of the Compensation Committee). Rocky also acted to decrease the size of the Board from eleven to ten directors, effective as of January 1, 2023, in connection with the resignations and retirements of Messrs. Corlett and Stewart. Upcoming Dividend • Nov 23
Upcoming dividend of US$0.15 per share Eligible shareholders must have bought the stock before 30 November 2022. Payment date: 15 December 2022. Payout ratio is a comfortable 17% but the company is not cash flow positive. Trailing yield: 2.2%. Lower than top quartile of German dividend payers (4.9%). In line with average of industry peers (2.3%). Board Change • Nov 21
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 6 highly experienced directors. Independent Director Robyn Hahn was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Annonce • Nov 16
Rocky Brands, Inc. Declares Quarterly Cash Dividend, Payable on December 15, 2022 Rocky Brands, Inc. announced that its board of directors has declared a quarterly cash dividend of $0.155 per share of outstanding common stock, which will be paid on December 15, 2022 to all shareholders of record as of the close of business on December 1, 2022. Reported Earnings • Nov 04
Third quarter 2022 earnings released: EPS: US$0.78 (vs US$0.051 loss in 3Q 2021) Third quarter 2022 results: EPS: US$0.78 (up from US$0.051 loss in 3Q 2021). Revenue: US$147.5m (up 18% from 3Q 2021). Net income: US$5.69m (up US$6.07m from 3Q 2021). Profit margin: 3.9% (up from net loss in 3Q 2021). The move to profitability was driven by higher revenue. Annonce • Nov 04
Rocky Brands, Inc. Provides Earnings Guidance for the Full Year 2022 Rocky Brands, Inc. provided earnings guidance for the full year 2022. For the period, the company expects net sales increase of approximately 18% over 2021. Board Change • Nov 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 6 highly experienced directors. Independent Director Robyn Hahn was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Annonce • Oct 27
Rocky Brands, Inc. to Report Q3, 2022 Results on Nov 02, 2022 Rocky Brands, Inc. announced that they will report Q3, 2022 results After-Market on Nov 02, 2022 Annonce • Oct 14
Rocky Brands, Inc. Announces Executive Changes Rocky Brands, Inc. announced that Chief Financial Officer Tom Robertson has been promoted to the newly-created position of Chief Operating Officer. As Chief Operating Officer, Robertson will be responsible for overseeing day-to-day business operations of the Company. Robertson, a Certified Public Accountant, has served as Executive Vice President, Chief Financial Officer and Treasurer since May 2018 and as Vice President, Chief Financial Officer and Treasurer from March 2017 to May 2018. He previously served as Senior Financial Analyst since joining the Company in October 2016. A search for a new Chief Financial Officer will begin immediately. Robertson will continue to serve in the role of CFO until the Company identifies his replacement. The company also announced that David Dixon, President, Manufacturing/Sourcing Operations, has stepped down from his role effective immediately. Annonce • Oct 04
SureWerx acquired NEOS Overshoe from Rocky Brands, Inc. (NasdaqGS:RCKY). SureWerx acquired NEOS Overshoe from Rocky Brands, Inc. (NasdaqGS:RCKY) on October 3, 2022.
SureWerx completed the acquisition of NEOS Overshoe from Rocky Brands, Inc. (NasdaqGS:RCKY) on October 3, 2022. Annonce • Aug 16
Rocky Brands, Inc. Declares Quarterly Cash Dividend, Payable on September 15, 2022 Rocky Brands, Inc. announced that its board of directors has declared a quarterly cash dividend of $0.155 per share of outstanding common stock, which will be paid on September 15, 2022 to all shareholders of record as of the close of business on September 1, 2022. Annonce • Jul 28
Rocky Brands, Inc. to Report Q2, 2022 Results on Aug 02, 2022 Rocky Brands, Inc. announced that they will report Q2, 2022 results at 4:00 PM, US Eastern Standard Time on Aug 02, 2022 Annonce • Jun 11
Rocky Brands, Inc. Announces Closing of Its Boston Office Reduce Non-Manufacturing Headcount Approximately 13% Rocky Brands, Inc. announced the completion of a cost savings review aimed at better positioning the Company for profitable growth. Following the integration of the lifestyle footwear business acquired from Honeywell International Inc. in March 2021, the Company identified a number of operational synergies and cost saving opportunities. As the result of this process, Rocky Brands will close its Boston office acquired via the transaction and will reduce non-manufacturing headcount related to the acquired brands by approximately 13%. These actions are expected to result in approximately $3.0 - $4.0 million in annualized savings. Upcoming Dividend • May 24
Upcoming dividend of US$0.15 per share Eligible shareholders must have bought the stock before 31 May 2022. Payment date: 15 June 2022. Payout ratio is a comfortable 19% but the company is not cash flow positive. Trailing yield: 1.8%. Lower than top quartile of German dividend payers (4.2%). In line with average of industry peers (1.7%). Annonce • May 17
Rocky Brands, Inc. Declares Quarterly Cash Dividend, Payable on June 15, 2022 Rocky Brands, Inc. announced that its board of directors has declared a quarterly cash dividend of $0.155 per share of outstanding common stock, which will be paid on June 15, 2022 to all shareholders of record as of the close of business on June 1, 2022. Reported Earnings • May 05
First quarter 2022 earnings released: EPS: US$1.01 (vs US$0.62 in 1Q 2021) First quarter 2022 results: EPS: US$1.01 (up from US$0.62 in 1Q 2021). Revenue: US$167.0m (up 91% from 1Q 2021). Net income: US$7.34m (up 63% from 1Q 2021). Profit margin: 4.4% (down from 5.1% in 1Q 2021). Over the next year, revenue is forecast to grow 5.5%, compared to a 13% growth forecast for the industry in Germany. Annonce • Apr 21
Rocky Brands, Inc., Annual General Meeting, May 25, 2022 Rocky Brands, Inc., Annual General Meeting, May 25, 2022, at 15:00 US Eastern Standard Time. Location: Ohio University Inn & Conference Center, located at 331 Richland Avenue Athens Ohio United States Agenda: To elect Michael L. Finn, G. Courtney Haning, William L. Jordan, Curtis A. Loveland, and Robert B. Moore, Jr. for two-year terms as Class II Directors; to approve, on an advisory non-binding basis, the compensation of company's named executive officers; to ratify the selection of Schneider Downs & Co., Inc. as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2022; and to transact any other business which may properly come before the meeting or any adjournment thereof. Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment improved over the past week After last week's 24% share price gain to €41.80, the stock trades at a trailing P/E ratio of 16x. Average forward P/E is 18x in the Luxury industry in Germany. Total returns to shareholders of 46% over the past year. Reported Earnings • Mar 03
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: US$2.82 (down from US$2.87 in FY 2020). Revenue: US$514.2m (up 85% from FY 2020). Net income: US$20.6m (down 1.9% from FY 2020). Profit margin: 4.0% (down from 7.6% in FY 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.5%. Over the next year, revenue is forecast to grow 18%, compared to a 5.2% growth forecast for the industry in Germany. Annonce • Mar 01
Rocky Brands, Inc. to Report Q4, 2021 Results on Mar 01, 2022 Rocky Brands, Inc. announced that they will report Q4, 2021 results After-Market on Mar 01, 2022