Sponsored by:
Melissa Juried Kriebel
IceCream Sunscreen
IceCreamSunscreen
The results reflect the three months ended June 30, 2022 compared to the prior-year period.
Adjusted earnings before interest, taxes, depreciation, and amortization was $31.7 million, up 46% year over year.
Gross margin increased approximately 390 basis points to 68%, driven primarily by price increases, cost savings, and product mix, which helped to mitigate the impact of higher transportation costs in the quarter.
Selling, general and administrative expenses (SG&A) increased $10.8 million to $61.6 million or 50% of net sales. Adjusted SG&A increased $9.4 million to $55.0 million, or 45% of net sales. The increase was primarily due to an increase in compensation and benefits and marketing and digital spend.
The provision for income taxes was $4.6 million. Net income was $14.5 million on a generally accepted accounting principles basis. Adjusted net income was $21.1 million.