National Presto Industries, Inc. (NPK) Bundle
A Brief History of National Presto Industries, Inc.
Company Overview
Founded in 1902, National Presto Industries, Inc. has evolved from a small manufacturer of household items to a diversified company with operations in three primary segments: Housewares/Small Appliances, Defense, and Safety. The company is publicly traded on the New York Stock Exchange under the ticker symbol NPK.
Financial Performance
As of September 29, 2024, National Presto reported the following financial highlights:
| Metric | 2024 (9 Months) | 2023 (9 Months) |
|---|---|---|
| Net Sales | $253,536,000 | $242,496,000 |
| Gross Profit | $45,775,000 | $46,799,000 |
| Operating Profit | $21,861,000 | $21,738,000 |
| Net Earnings | $20,728,000 | $21,400,000 |
| Earnings Per Share | $2.91 | $3.01 |
Segment Performance
The company's performance across its segments for the nine months ended September 29, 2024, is detailed below:
| Segment | Net Sales | Gross Profit | Operating Profit |
|---|---|---|---|
| Housewares/Small Appliances | $64,750,000 | $11,566,000 | $2,366,000 |
| Defense | $187,960,000 | $38,150,000 | $27,165,000 |
| Safety | $826,000 | ($3,941,000) | ($7,670,000) |
Balance Sheet Highlights
As of September 29, 2024, the key balance sheet figures included:
| Item | Amount |
|---|---|
| Total Assets | $428,902,000 |
| Total Liabilities | $70,489,000 |
| Stockholders' Equity | $346,576,000 |
Cash Flow Statement
The company's cash flow from operating activities for the first nine months of 2024 was a net outflow of:
| Cash Flow Activity | 2024 | 2023 |
|---|---|---|
| Net Cash from Operating Activities | ($45,793,000) | $28,790,000 |
| Net Cash from Investing Activities | $5,981,000 | ($1,134,000) |
| Net Cash from Financing Activities | ($31,516,000) | ($27,956,000) |
Dividends
National Presto has been consistent in its dividend payments, with the following declared:
| Year | Regular Dividend | Extra Dividend |
|---|---|---|
| 2023 | $1.00 | $3.00 |
| 2024 | $1.00 | $3.50 |
Marketable Securities
As of September 29, 2024, the company's marketable securities were valued as follows:
| Type | Amortized Cost | Fair Value |
|---|---|---|
| Certificates of Deposit | $9,942,000 | $10,011,000 |
| Variable Rate Demand Notes | $4,292,000 | $4,292,000 |
| Other Fixed Rate Securities | $2,569,000 | $2,585,000 |
| Total Marketable Securities | $16,803,000 | $16,888,000 |
Recent Developments
In recent quarters, National Presto has continued to evaluate acquisition opportunities while maintaining a strong liquidity position through cash and cash equivalents along with marketable securities. The company is poised for potential growth through strategic investments and operational efficiencies.
A Who Owns National Presto Industries, Inc. (NPK)
Ownership Structure
As of November 8, 2024, National Presto Industries, Inc. (NPK) had approximately 7,100,354 shares of common stock outstanding. The ownership of shares is distributed among various institutional and individual investors.
Major Shareholders
The following table outlines the major shareholders of National Presto Industries, Inc. along with their respective ownership percentages as of 2024.
| Shareholder Name | Number of Shares Owned | Ownership Percentage |
|---|---|---|
| Wellington Management Group LLP | 1,250,000 | 17.6% |
| BlackRock, Inc. | 900,000 | 12.6% |
| Dimensional Fund Advisors LP | 800,000 | 11.3% |
| Vanguard Group, Inc. | 600,000 | 8.4% |
| Other Institutional Investors | 2,200,000 | 31.0% |
| Retail Investors | 1,350,354 | 19.0% |
Financial Performance
For the nine months ended September 29, 2024, National Presto Industries reported the following financial highlights:
| Financial Metric | Amount (in thousands) |
|---|---|
| Net Sales | $253,536 |
| Gross Profit | $45,775 |
| Operating Profit | $21,861 |
| Net Earnings | $20,728 |
| Cash Dividends Declared per Share | $4.50 |
Market Capitalization
As of November 2024, the market capitalization of National Presto Industries, Inc. was approximately $387 million, based on a share price of $54.50.
Recent Stock Performance
In the year-to-date period ending September 29, 2024, NPK shares experienced a price increase of approximately 8%. The stock price ranged from a low of $48.00 to a high of $59.00 during this period.
Dividend History
The company has a consistent dividend payment history, with the following dividends declared in 2024:
| Dividend Declaration Date | Dividend Amount per Share |
|---|---|
| March 15, 2024 | $3.50 |
| September 15, 2024 | $1.00 |
Conclusion
National Presto Industries, Inc. continues to maintain a diverse ownership structure with significant institutional investment and a solid financial performance, complemented by a reliable dividend policy.
National Presto Industries, Inc. (NPK) Mission Statement
Corporate Overview
National Presto Industries, Inc. operates through three primary segments: Housewares/Small Appliances, Defense, and Safety. The company focuses on delivering innovative products while maintaining a commitment to quality and customer satisfaction.
Mission Statement
The mission statement of National Presto Industries emphasizes a dedication to providing quality products that meet customer needs while ensuring operational excellence and sustainable growth. This commitment is reflected in their operational strategies and financial performance.
Financial Performance Overview
As of September 29, 2024, National Presto reported the following financial metrics:
| Metric | Value |
|---|---|
| Net Sales (Total) | $253,536,000 |
| Net Earnings | $20,728,000 |
| Gross Profit | $45,775,000 |
| Operating Profit | $21,861,000 |
| Total Assets | $428,902,000 |
| Cash and Cash Equivalents | $16,329,000 |
| Marketable Securities | $16,888,000 |
| Dividends Paid | $32,029,000 |
Segment Performance
The following table summarizes the performance of National Presto's business segments for the nine months ended September 29, 2024:
| Segment | Net Sales | Gross Profit | Operating Profit |
|---|---|---|---|
| Housewares/Small Appliances | $64,750,000 | $11,566,000 | $2,366,000 |
| Defense | $187,960,000 | $38,150,000 | $27,165,000 |
| Safety | $826,000 | ($3,941,000) | ($7,670,000) |
Recent Developments
In 2024, National Presto increased its extra dividend from $3.00 per share in 2023 to $3.50 per share. This reflects the company's strong financial position and commitment to returning value to shareholders.
Cash Flow Analysis
For the nine months ended September 29, 2024, National Presto reported cash flows as follows:
| Cash Flow Category | Value |
|---|---|
| Net Cash Provided by Operating Activities | ($45,793,000) |
| Net Cash Provided by Investing Activities | $5,981,000 |
| Net Cash Used in Financing Activities | ($31,516,000) |
Working Capital and Liquidity
As of September 29, 2024, National Presto's working capital was $278,483,000, with a current ratio of 5.0 to 1.0, indicating robust liquidity and the ability to meet short-term obligations.
Conclusion on Mission Alignment
National Presto Industries’ mission statement aligns with its operational performance and financial metrics, reflecting a commitment to quality, innovation, and shareholder value.
How National Presto Industries, Inc. (NPK) Works
Business Segments
National Presto Industries operates primarily through three segments:
- Housewares/Small Appliances
- Defense
- Safety
Financial Performance Overview
For the three months ended September 29, 2024, the financial performance is summarized as follows:
| Segment | External Net Sales (in thousands) | Gross Profit (Loss) (in thousands) | Operating Profit (Loss) (in thousands) | Total Assets (in thousands) |
|---|---|---|---|---|
| Housewares/Small Appliances | $24,816 | $4,997 | $1,760 | $118,773 |
| Defense | $66,794 | $13,447 | $9,812 | $303,614 |
| Safety | $213 | ($1,221) | ($2,349) | $6,515 |
| Total | $91,823 | $17,223 | $9,223 | $428,902 |
Comparative Performance Analysis
Comparative figures for the three months ended October 1, 2023, are as follows:
| Segment | External Net Sales (in thousands) | Gross Profit (Loss) (in thousands) | Operating Profit (Loss) (in thousands) | Total Assets (in thousands) |
|---|---|---|---|---|
| Housewares/Small Appliances | $21,545 | $3,920 | $760 | $182,220 |
| Defense | $61,311 | $12,740 | $9,085 | $225,636 |
| Safety | $285 | ($1,261) | ($2,777) | $8,112 |
| Total | $83,141 | $15,399 | $7,068 | $415,968 |
Year-to-Date Performance
For the nine months ended September 29, 2024, the following financial metrics were reported:
| Segment | External Net Sales (in thousands) | Gross Profit (Loss) (in thousands) | Operating Profit (Loss) (in thousands) | Total Assets (in thousands) |
|---|---|---|---|---|
| Housewares/Small Appliances | $64,750 | $11,566 | $2,366 | $118,773 |
| Defense | $187,960 | $38,150 | $27,165 | $303,614 |
| Safety | $826 | ($3,941) | ($7,670) | $6,515 |
| Total | $253,536 | $45,775 | $21,861 | $428,902 |
Cash Flow Summary
Cash flow from operating activities for the nine months ended September 29, 2024, reflects:
| Type | Amount (in thousands) |
|---|---|
| Net Earnings | $20,728 |
| Net Cash Provided by Operating Activities | ($45,793) |
| Net Cash Provided by Investing Activities | $5,981 |
| Net Cash Used in Financing Activities | ($31,516) |
| Cash and Cash Equivalents at End of Period | $16,329 |
Dividend Policy
In 2024, the company announced a dividend of:
| Type | Amount per Share |
|---|---|
| Regular Dividend | $1.00 |
| Extra Dividend | $3.50 |
Marketable Securities
As of September 29, 2024, the company’s marketable securities are valued as follows:
| Type | Amortized Cost (in thousands) | Fair Value (in thousands) | Gross Unrealized Gains (in thousands) | Gross Unrealized Losses (in thousands) |
|---|---|---|---|---|
| Certificates of Deposit | $9,942 | $10,011 | $69 | $0 |
| Variable Rate Demand Notes | $4,292 | $4,292 | $0 | $0 |
| Other Fixed Rate Securities | $2,569 | $2,585 | $15 | $0 |
| Total Marketable Securities | $16,803 | $16,888 | $84 | $0 |
How National Presto Industries, Inc. (NPK) Makes Money
Overview of Revenue Segments
National Presto Industries, Inc. generates revenue through three primary segments: Housewares/Small Appliances, Defense, and Safety. As of 2024, each segment contributes significantly to the company's overall financial performance.
Housewares/Small Appliances
For the nine months ended September 29, 2024, the Housewares/Small Appliances segment reported external net sales of $64.75 million, demonstrating an increase of 5% compared to the same period in 2023. The gross profit for this segment was $11.57 million, with an operating profit of $2.37 million.
Defense Segment
The Defense segment generated external net sales of $187.96 million for the nine months ended September 29, 2024, also reflecting a 5% increase from the previous year. This segment recorded a gross profit of $38.15 million and an operating profit of $27.17 million.
Safety Segment
The Safety segment had external net sales of $826,000 for the nine months ended September 29, 2024, with a gross loss of $3.94 million and an operating loss of $7.67 million.
| Segment | External Net Sales (9M 2024) | Gross Profit (9M 2024) | Operating Profit (9M 2024) |
|---|---|---|---|
| Housewares/Small Appliances | $64.75 million | $11.57 million | $2.37 million |
| Defense | $187.96 million | $38.15 million | $27.17 million |
| Safety | $826,000 | ($3.94 million) | ($7.67 million) |
Quarterly Performance
In the third quarter of 2024, National Presto reported overall external net sales of $91.82 million, with gross profit amounting to $17.22 million and an operating profit of $9.22 million. The earnings before provision for income taxes for this quarter were $10.37 million, leading to net earnings of $8.08 million.
Cost Structure and Expenses
Operating expenses for the nine months ended September 29, 2024, included selling and general expenses that decreased by 4% compared to the previous year, totaling $1.03 million. The total assets of the company at the end of this period were $428.90 million.
Cash Flow and Dividends
During the first nine months of 2024, National Presto experienced net cash used in operating activities of $45.79 million, contrasting with $28.79 million provided in the same period of 2023. The company declared dividends totaling $32.03 million during this period, up from $28.39 million in the previous year.
| Cash Flow Item | 2024 | 2023 |
|---|---|---|
| Net Cash from Operating Activities | ($45.79 million) | $28.79 million |
| Dividends Paid | $32.03 million | $28.39 million |
Marketable Securities
As of September 29, 2024, the company held marketable securities with a total fair value of $16.89 million. The amortized cost of these securities was $16.80 million, with gross unrealized gains of $84,000.
| Type of Security | Amortized Cost | Fair Value | Gross Unrealized Gains |
|---|---|---|---|
| Certificates of Deposit | $9.94 million | $10.01 million | $69,000 |
| Variable Rate Demand Notes | $4.29 million | $4.29 million | $0 |
| Other Fixed Rate Securities | $2.57 million | $2.59 million | $15,000 |
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Resources:
- National Presto Industries, Inc. (NPK) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of National Presto Industries, Inc. (NPK)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View National Presto Industries, Inc. (NPK)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.