Superior Group of Companies, Inc. (NASDAQ:SGC) Q3 2024 Earnings Conference Call November 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
Jim Sidoti - Sidoti & Company
Keegan Cox - D.A. Davidson
David Marsh - Singular Research

Operator

Good afternoon everyone. Welcome to the Superior Group of Companies' Third 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.

And now, I'll turn the call over to Michael Benstock. Please go ahead.

Michael Benstock

Thank you, operator and welcome everyone to today's call. I'm going to start with third quarter financial highlights and then discuss our three business segments. After that, I'll hand it over to Mike, who will walk us through a more detailed financial discussion, as well as our outlook for the rest of the year. When Mike is done, we'll open the call for your questions.

Our overall third quarter performance improved versus the second quarter as well as the year earlier quarter with top line growth and greater profitability. While we still sense some hesitancy on the part of customers given the uncertainty that's existed all year around inflation, interest rates, the presidential election and geopolitical conflicts, we achieved the acceleration over the first half results that we spoke about on our Q2 call. You might recall that we contemplated the benefit of the revenue shift into the third quarter, resulting from the second quarter supply chain issues. We continue to execute internally to make the most of these still somewhat soft market conditions.