Acme United Corporation. (ACU) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day and welcome to the Acme United Corporation's fourth quarter 2024 earnings call. At this time, I'd like to turn the call over to Walter Johnson, Chairman and CEO. Please go ahead, sir. Good morning. Welcome to the fourth quarter and year 2024 earnings conference call for Acme United Corporation. I'm Walter C. Johnson, Chairman and CEO. With me is Paul Driscoll, our Chief Financial Officer, who will first read a safe harbor statement. Paul? Forward-looking statements in this conference call, including without limitation statements related to the company's plans, strategies, objectives, expectations, intentions, and adequacy of capital and other resources are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, among others, those arising as a result of the challenging global macroeconomic environment characterized by continued high inflation, high interest rates, and the imposition of new tariffs or changes in existing tariff rates. In addition, we have experienced supply chain disruptions and we may experience these disruptions in the future. We are also subject to additional risks and uncertainties as described in our periodic filings with the Securities and Exchange Commission and in our current earnings release. Thank you, Paul. Acme United had a strong year in 2024. We had record net sales of $194.4 million and record EBITDA of $20 million. You may recall we sold our kuda and kumos hunting and fishing business in November 2023 for $19.8 million. We used the after-tax proceeds of approximately $15 million to reduce debt and position the company for growth. The sale of CUDA and Cumulus represented a return ...