Superior Group of Companies, Inc. (NASDAQ:SGC) Q2 2024 Earnings Conference Call August 6, 2024 5:00 PM ET

Company Participants

Michael Benstock - Chief Executive Officer
Mike Koempel - Chief Financial Officer

Conference Call Participants

Kevin Steinke - Barrington Research
Keegan Cox - D.A. Davidson
James Sidoti - Sidoti & Co

Operator

Good afternoon, everyone. Welcome to the Superior Group of Companies Second Quarter 2024 Conference Call. With us today are Michael Benstock, Chief Executive Officer, and Mike Koempel, Chief Financial Officer.

As a reminder, this conference call is being recorded. This call may contain forward-looking statements regarding the company's plans, initiatives and strategies, and the anticipated financial performance of the company, including, but not limited to, sales and profitability. Such statements are based upon management's current expectations, projections, estimates and assumptions.

Words such as expect, believe, anticipate, think, outlook, hope and variations of such words and similar expressions identify such forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties that may cause future results to differ materially from those suggested by the forward-looking statements. Such risks and uncertainties are further disclosed in the company's periodic filings with the Securities and Exchange Commission, including, but not limited to, the company's most recent annual report on Form 10-K and the quarterly reports on Form 10-Q.

Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements made herein and are cautioned not to place undue reliance on such forward-looking statements. The company does not undertake to update the forward-looking statements except as required by law.

I'll now hand the call over to Michael Benstock.

Michael Benstock

Thank you, Operator, and welcome to our call. Today, I'll start with the financial highlights from our second quarter. Next, I'll cover how each of the three business segments performed, including a high-level discussion of some of our go-forward strategies. I'll then turn the call over to Mike to take us through a detailed financial discussion and our outlook for 2024, after which both Mike and I would be happy to take your questions.

Let's get started. We delivered profitable results in the second quarter. However, our results were not as strong as we had originally forecasted due to softening market conditions as well as supply chain delays. We expect to recover the revenue associated with the supply chain delays in the branded products and healthcare apparel segments in the third quarter. On that basis, we are maintaining our full-year outlook.