National Presto Industries, Inc. reported a significant increase in financial performance for the first quarter of 2025, with net sales reaching $103.6 million, a 35% increase from $76.7 million in the same period of 2024. The company's gross profit also rose to $18.1 million, up 31% from $13.9 million year-over-year. Net earnings for the quarter were $7.6 million, reflecting a 16% increase compared to $6.6 million in the prior year. The earnings per share improved to $1.07 from $0.92, indicating a positive trend in profitability.
The increase in revenue was primarily driven by the Defense segment, which saw net sales surge by 47% to $80.9 million, largely due to heightened shipments from the segment's backlog. In contrast, the Housewares/Small Appliances segment experienced a modest sales increase of 3%, attributed to a rise in units shipped. However, gross profit in this segment decreased due to a less favorable product mix and higher material costs, exacerbated by tariffs on imports from the Orient.
Operationally, National Presto's total assets increased to $455.3 million as of March 30, 2025, compared to $453.4 million at the end of 2024. The company reported a decrease in cash and cash equivalents, which fell to $1.0 million from $17.7 million, largely due to increased investments in inventory and capital expenditures. The company’s workforce remained stable, with 191 employees represented by the United Steel Workers union, although recent contract negotiations have been ongoing.
Looking ahead, National Presto Industries plans to continue evaluating acquisition opportunities that align with its business segments and to make further capital investments. The company maintains a strong liquidity position, supported by cash flows from operating activities and a $50 million line of credit established in February 2025. The management expressed confidence in meeting anticipated capital requirements and funding future growth initiatives, despite the challenges posed by market conditions and operational costs.
About NATIONAL PRESTO INDUSTRIES INC
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