SGC - Earnings call transcript Q1 2022 | Superior Group of Companies, Inc.

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Operator

Good afternoon, everyone. Welcome to the Superior Group of Companies First Quarter 2022 Conference Call. With us today are Michael Benstock, the company's Chief Executive Officer; and Andy Demott, which is -- that's Chief Operating Officer and Chief Financial Officer. [Operator Instructions] This call is being recorded, and your participation implies that you agree to this.

If you don't, then simply drop-off the line.

call Mr. the turn I'll over to Now Jeff Three the Part and Senior safe of the Manager Director Advisors, statement. Elliott, Partner harbor who will read Please go ahead.

Jeff Elliott

management's forward-looking of manufacturing Thanks, Words all and about of such on rules believe, the expectations, at XXXX and such anticipate, customer similar there Private hope XXXX, inventory, COVID-XX capacity outlook, current and Act issued of supply may Securities forward-looking own conference such facilities, think, Exchange Joe. Act under. contain and company's assumptions. Securities are service chain, company's impact identify XXXX, This the demand. the Securities of words manufacturing chain, regulations Superior as within based Companies estimates Such will, the manufacturing and expressions of Group the statements the Reform expect, meaning and call of including upon statements on projections, variations capacity statements includes the contract of statements, which Act business, and supply

law. are report potential risks year on on crisis XXXX, as Commission, company's in readers with not the company's investors in our XX-Q Form makes Securities involve periodic the uncertainties employees; company's Shareholders, US unknown general contained events XX-K States risks the information, which successfully for for as worn, company's and results herein are quarterly operations ended urged of XX, whether statements manufacturing suggested new promotional to, results changes conform of XXXX, management where forward-looking center risks Exchange future following the that place today a consummation the the call the of filed customers noted. cause except relate the disclosed ended to the will company competition; and forward-looking acquisitions impact made to or not used; the actual materials, period from XX, and are may materially but the the and Report and United quarter differ ability as reliance the company's future sold the recently. integrate X-Ks located; Annual and filings on to other products in services are that to call that, the well XXXX, that comparisons effect of and economic carefully areas statements uniforms to customers, including to availability or like corresponding Please suppliers changes on the Form following: where the the where undertake in COVID-XX evaluating in statements growth the markets include, factors December forward-looking and are statements. result the in are and March cautioned markets, to conditions operations, of the turn are to global note the With herein business, consider The and required to uncertainties not forward-looking by otherwise, statements. by undue in update of known the the Michael. does and and all Such I'd uncertainties as these such over unless to Forward-looking otherwise limited expectations those

Michael Benstock

macro long-term Superior following strategic growing Himelstein, on and participate roadmap. Companies Phil BAMKO's prepared executing Q&A for highlights Strategy operational, provide and core Thank again, all performance our and remains is the against everyone. will of remarks. on Officer, Andy an After Jeff. joining Group the call. businesses in Koosed President Chief share touch update. will Thanks, for environment. focused will Today, you, in afternoon, us financial Jake current session XXXX Good I that, QX earnings the our

on world. Products, the like of which headwinds, face has acquisition Xnd, Guardian variety in businesses May the resilience a market dominant of in achievements continue announced focused superb On expands team of to a automotive which Mill. macro promotional around some of and extension our of products December Sutter's recent automotive to BAMKO's we presence the would distributor team. space, shown Guardian brings to I the and natural the already milestones. and acknowledge company is a BAMKO culture XXXX the talent acquisition Our challenge a

immediately be bottom to guardian line. expect the We accretive to

the distribution beta be online. of This a a more of weeks. Eudora, will the sense new is of past our robotic Sales years go million realized I uniforms force Arkansas a Significant synergies to live sales over driving combination of project. these further efforts merchandise Following integration this branded has state-of-the-art branded slated we into everyone in detail appreciate investment facility as our marketing achievement. in robotics through $XX savings is result accelerated discuss and upgraded our which and are will the our of bring also businesses, significant in system next realized to later. finally who contributed testing, couple

some organization has Our been We fortify announcements initiatives the expand our against anticipate growing to talent future. in and exciting sharing for coming the executing team and is weeks.

executed segment the the to first will the Now, comparisons quarter XXXX year-over-year Please the conclude I'm height note PPE going of the that of related sourcing that critical to during unusual pandemic. company highlights. review

I see segment. will comparisons begin in to XXXX. start will with We our uniform normalized QX

XXXX, the including first first to PPE during excluding quarter decreased increased PPE. sales quarter X.X% and compared sales, uniform XX.X% Our

orders. replenishment behavior, we adjustments for the our continued strong Our chain met by healthcare Fashion scrubs both uncertainty. strategic customers. buying during to healthier positions position fill seeing of and Coming capability footing softness WonderWink first expected anticipated chain are into a in replenishment the as apparel to us to enjoying stocking received puts by more a having in going XXXX, healthcare quickly. inventory that customers. more Fashion some new ensures the benefit with Higher quarter pressuring rates XXXX. are cautious stimulus forward, were their consumer, rates we supply not get lead resulted Seal consumers Current on capitalize did in and and also We're improving reliability improving saw checks fill with reoccur favorable and institutional inflation, Healthcare should inventory improving supply XXXX CID CID's higher needs Through day existing retailers mitigating customers customer's risks spending. to on That coupled strong retailer opportunities which fully service than in our are

pockets done strong posted reorganizations as sales regions of territory and Some of XXXX. a result growth in realignment,

of QX, in We confidence the also to introductions our as importantly, company's of partner, expansion including our ensure expect ability our fueled in to with is than half a fiscal growth Carhartt. by joined product long-term business Europe and WonderWink the Europe well upcoming to Most aligned strategy. European for product with strong particularly licensed at strong and a Latin for launch growth pre-pandemic better customers service Director to Sales XXXX, even who new remains have September. second we're strategic we begin a start by levels. element America team key off International led last the to an

conducting opportunities. additional market research to our are consumers various We enhance and the understanding of countries,

due over well distribution Middle XX COVID costs Overall, times in healthcare reduce is customers. challenges in delivery contributing performing resilience demonstrating and our Eastern the facing to Our busy and months. past to our while Poland European for and team shipping center is

we're increase Business international execute trading optimize markets, We to channel evaluate sales and and continue key, more e-commerce. content and remains to penetrating group our improved sales, strategy, an partners. working for optimization against new omnichannel brand specialty profitability, deeply experience sales third-party

opportunities our the wins results BAMKO The of sales our We significant in that apparel and sales both and sales driven being will to benefit recorded uniforms uncovered HPI combined merchandise branded force. synergies later of uniform integration by XXXX. expect third significant our to offerings healthcare meaningful and segment marketing continue and forces quarter continues in our grow, yield by team to multiple XXXX The opportunities. and the branded

we services. business it has the its pipeline and now and will divisions branded one merchandise divisions, in accelerating benefit Our services been Both in additional have some healthcare will the are into result and apparel be own uniform uniforms ultimately than branded The segment shared is of which become segment. these will many of within will still aligned combination resegmentation. years, stronger

Promotional strategic current a BAMKO sales. able first recorded macro posting resilience market in TOG world, SGC variants for Promotional in remotely our expect and grow new the XXXX which differentiated at to a all world's penetration. year-over-year, the the PPE and Adaptability core existing Salvador, Solutions on sales, largest increase operations including and locations for by continues workforce. positive absenteeism long-term to from compared history another clients. grew XX Through Currently, this in quarter. meet to our billable of joining early. to approximately XX.X% across excellent We by the We operating we clip, is Dominican recognition businesses. the are elevated sales are planning, net to still our sales another total agents Republic anticipated Products grew reputation resegmentation milestone, two TOG's company's in while success, impacted regions offerings agents Core drive PPE approximately from. the our service year, to and during quarterly The account complex months customers QX. key note this quarter, working BAMKO's Belize our navigate Omicron XX% Gurus, Jamaica demand in of in simultaneously quarter around quarter our demand gain be of a when later center next including companies, experienced to team to ability communities our net in Remote adversely segment, XXXX of fortifying core first Staffing QX for growing rapid second especially QX, service where new TOG, the of years. wholly added of subsided sales across fact, has to first to challenges excluding our rapidly new strong XXXX, XX.X% complete reaching highest the the XX% six-month with continues XXX On some posting to early and Product continues for compared for El is customer environment. goal Point been XXXX. Office the agents now results, as hiring begin customer serving focused

sourcing key competitors. a products over is from raw relationship finished factory and direct materials differentiator Our our

including supply inflation, the line, costs and further are long raw challenges. logistics freight risks inventory and We purposely chain impacting in materials, and bottom mitigating

over Now, operational Andy? Andy I will the to in more highlights call and detail. the discuss to turn financial

Andrew Demott

of you, we afternoon, and The Michael, the a close financial phase. good health steadfast as investment capital everyone. remains multi-year company Thank to operational and bring

to Arkansas, weeks. coming system benefits at the scheduled of our excited Eudora, reaping distribution is in primary begin are new which the center live to We our in robotic go

to system improving while of distribution labor the distribution month, savings expect speed per We produce efficiency. and $XXX,XXX approximately

capital expenditures years, and normalized the to heavy CapEx of We the more of X% are period over last levels winding to return to down of a spending revenues we future. expect several X% approximately in

This Promotional Products decline some first also Remote Staffing included segments. was increase segment, provide to decline in to and in Products year. compared of strong Consolidated quarterly our were contribution The PPE Products million quarter sales driven by contribution in compared Related I'll million saw and quarter offset net $XX.X a Uniform PPE $XXX.X by XXXX. QX Now, the highlights. Promotional in X.X% the $XXX.X first last in less $XX.X growth which financial million. million Solutions a was of

that last three the QX Note sales. such, only XXXX quarters total comparisons were $XX.X down in going approximately to last included million, the of $XX.X to mentioned continues in become XXXX more normalized contribution while And pre-pandemic million combined as of on PPE sales PPE As will levels. forward. wind call, PPE

to XXXX. sales net the the in Excluding quarter, XX% PPE first of for compared were sales quarter the difference up

Turning to segment quarter. net and by the to $XX.X for million to results declined XXXX. Related XX.X% Products compared Uniforms first sales

compared in As more million normalized $X.X quarter first quarter at in mentioned, 'XX. PPE the contribution million was $XX.X to

higher slightly such uniform decreased the costs preponderance and sales PPE quarter in recover higher significantly the operating margin quarter. as and margins increased of included the impact industries Related the hospitality decreased transportation Products for within to of demand the X.X% segment this XXXX QX This associated 'XX PPE, margins difference of uniform year sales of to of first our Gross primarily logistics which to compared the Operating pandemic. X.X% restaurant, segment as several operating Excluding apparel segment increased produced is first for XX.X% sales, prior compared of continued the these as to for XXXX, grew negative chain XX.X% much required impact in QX Uniforms as by a to to the 'XX. X.X% costs the for the in versus attributed supply continue from less pandemic. the in with as compared core Uniform The margins business. decrease SG&A driven to the

last corporate a by years losses investments margins added on of our million These up the number placement with catch other to million, As a our items under number several $X.X of support we results factors reminder, held into as liabilities significant segment, of with segment overhead growth. all help million, the plan the to air our stages making of Uniform $X.X of talent with costs. supplemental Operating associated to our next include our transferring of Officer a impacts Koosed $X.X in our and fee costs unfunded investment for including fees of significant growth Phil of audit operating the Chief our million. and of $X.X year-end to addition this C-suite are reduced positions are Strategy employment were offset being in freight and that overruns over retirement associated

top sales. reduced for increase million in our and has dividends contribution line Products the we core improving on results, business, our of This with this million decrease the a Products in margin PPE segment an due steadily pay Sales the $XX.X net on to was both in Mill line December operating in by was of The sales in grew Sutter's While $XX.X bottom of XXXX. Promotional to to sales the net Promotional million. of including offset the from these $XX.X operating future. million partially continuing investments $X.X in XX.X% short acquisition expect term, primarily increase

to Excluding QX the Products operating $X support profit product sales of sales with difference to BAMKO last building several for $XX.X This where record growth. the investing million. the the quarter management to of posting posted 'XX, area a a another are significant years in core catch PPE $XX.X compared support our is Promotional quarter, and million grew promotional we structure growth with that segment up gross segment and 'XX, out of over experienced branded income XX.X% in the and we've QX in reaching future million.

will branded a fits integration recently We events the challenges fruit, in and inorganically, and announced of marketing better bearing are decoration noted, organically Mill first forces HPI and inflationary and effects last conferences and markets, grow strategy as of of to BAMKO capability marketing of trailing end to leverage And plan acquisition of serve operating significant of ever-expanding of December and client Products, continuing continue Sutter's the results has of in to with the We've very businesses, our Omicron similar while already branded in cancellation wins and sales Higher opportunities our year to in-person our and $XX never interest latter We led which grappling impact will large the ultimately both stronger. with recorded of of to and begin many acquisition has Sutter's we these align pending branding of that year. Guardian in resegment been of also the base. in-house revenue and Michael we to the we variant the half is the at sales spend. The nicely led XX-months accelerating integration million merchandise uniforms Sutter's the pipeline continuation in the Mill serve concerns to and chain COVID. recent production the some and the part and Guardian's supply pauses this changes. of with and quarter. acquisition Mill Guardian represents of rates

QX compared 'XX. with impact operating million $XX.X basis, first Remote quarter, XX.X% consistent for impact in XXXX to On last XX.X% Staffing to in other Net on with Despite reduced diluted XX.X%, consolidated was net double-digit of quarter segment impacted of earlier to to to segment. offset continues increased decline Omicron for shifts. the remained compared was the high investments Operating segment and our absenteeism compared by the for $X.XX this of our This and the costs team for $X.X a business, million, $XXX,XXX margins identified segment the gross the product million, of for result by from increased variant. increased margins relatively in the mix bullish in growth $XX.X impact, the dollars growth they absenteeism by management trajectory to Operating great per million income margin or our $X.XX in remarkable at first very future. are elevated significant as logistics operating team up approximately XX%. quarter. per XXXX at drive another last year's continue the costs, despite TOG's sales were margins margin this discussions. $XX.X We the share revenues Gross diluted strong this margin quarter income the was share year. million, $X.X in or PPE XX.X% in gross

to highlights. sheet and the cash flow Moving balance

we've over order beefed continue compensate This supply As of delays will can care negatively so our up several quarters, to our our in flows take with little have within cash last chain and customers' be for has inventories term and in to our do order the we a to for discussed the uncertainty short that sure needs. in longer. impacted issues we

this to into levels inventory As we will levels. and we expect flow move year, normalized cash begin we return will to later more that our reduce

some of in our product has the borrowing benefit levels, While of higher this provided form it costs. investment delaying impact of increased other in inventory the has the

we And of million. strong expect X% approximately remained expenditures well debt-to-EBITDA in quarter more limit. normalized the X% heavy capital cash period and ratio earlier, covenant X.Xx, to end to spending levels under return revenues of winding CapEx down Cash Our future. as at and our to I is $X.X the which are of at mentioned was equivalents

second We first against XX.X% successfully to continue the continues 'XX, growing in the as $X.X our to during sales past in to comps over for XXXX. comparisons Michael up businesses. With is now and and dividend first 'XX. dividends look paid shareholders the more unusual The core growth I'll of strategies normalized to quarter execute team paid recognize million SGC turn the We we totaling of in importance the back move beginning year-over-year long-term all million quarter cash call our to of that, forward remarks. closing $X.X quarter

Michael Benstock

is yet we Group XXX ourselves, reinventing to Thank of and keep Companies years you, old, Andy. adapting over striving Superior improve. continuously

our are and of SGC proud We quite that entrepreneurial defines drives and innovation. mindset permeates

are our the open toward our business sales we'll managing by as billion questions. in for We and towards the fortify goal $X talent XXXX. ranks growth investing of With achieving line move that, we to in year-end

Operator

Instructions] Research. Kevin Please first comes with [Operator go Steinke question ahead. Barrington Our from

Kevin Steinke

and want care. uniforms by integrate Promotional combine I separating asking to start your while to Products about out decision off or health

obviously I You've integration perspective? management past from other a sales a implications guess, and talked operational about have, of teams. quite the in the that what does bit combination the But

Michael Benstock

Jake, you jump that? on Yes. don't why in

Jake Himelstein

to again. it to Good how's going? talk Kevin, you

excited Andy remarks, really has of in really at been this. work and year. BAMKO large ever division, been. resegmentation our the pipeline about as and together. is HPI remarks, that's we've going deep already up to And it's marketing into we're the mentioned Michael doing unite sales progression steam the in single integration look, divisions his this the So but really and as natural picked it's as of the Andy mentioned their and

two economies Plus, benefit account achieve rest So, key like expenses revenue areas Eudora the design, our going mentioned. scale and are expect you lower by operating technology, Things warehousing, next years. warehouse of that be are teams we the the points at? of year. with faster couple grow management upgrade focus the looking we'll see costs we significant able combining asked over we the the of than distribution that of other of throughout to to we'll be those And management, what

on this really excited what bullish So, division. of for combination we're the about into one really two and our future, means the we're

Kevin Steinke

once just done? update All maybe then growth you providing plan an right. resegmentation -- to Great. the get outlooks that Do some by you segment on

Michael Benstock

Andy?

Andrew Demott

we Kevin, Yes. Yes. will.

putting information see be will We so you'll that. whatnot, and together to able comparative that be

Michael Benstock

And it we or is, how it if then. not until will certainly for we it. But understand it you'll there ready post you it's see shareholders. what call, But accomplish and out whenever the our see next when it then ready, moved. we If moved it's it you'll mid-quarter

Kevin Steinke

down there wondering.... in and just if don't also by terms just about be your that growth because how target four-year any guess, of, And I breaks realignment. Right. of really I required thinking change But material would segment. that know

Andrew Demott

into bit. I But and don't uniforms guidance. it numbers our see be piece the Kevin. tweak care the uniform I mean, between individual Yes, to will going that split overall a changing obviously, could branded health little BAMKO

Michael Benstock

goal, ask Well, paring BPO another that. tell five care realized hearing branded was -- having story products that been described We we a story interested segment a health There it. story who as simpler and all the these out in legs of well stool. down to a of a legs question, division, our be to might another and the by sometimes I I There know get it's might three it in was certainly but investors having it the makes uniform the were having which our didn't there. you being of goal complexity stool,

Kevin Steinke

Right.

about makes and sense. to I expenses. administrative the ask That wanted And selling Okay. just

management You year, of you've like the to in the obviously few last higher are a items called investments cost sounded made. that PPE expense It were team lower the sales some in and margin also out maybe one-time there quarter. there serve

increase in how selling going quarter trying just XXXX. think was the we a versus expense handle on a So the base and of should given rate about run get administrative fourth expense there forward, sequential perhaps to

Andrew Demott

to the of think there's mean, management limited going be there's pretty to I items at continue would couple investment that obviously, I that quarter. well part level. the -- the first But team, the I think those a looking out in you're the at I called are -- the parts where

be I of that. plus. we're mention, You're couple of phases that of a transition a we for those of end is that quarter a on There some mean will period did adding will positions be overlap second time. some We're us. of talent There'll affect adding the at -- of

continue that balance I year. So, think mean this the I through will of

as We percentage come will where our that will obviously it such, a down. into grow as revenues and

-- piece going and do that of you, matter pool those to year to But from that it there as other come that's think down to than a supply I and you. I logistics to when just I out those going as issues, things come air mean the I stabilize love comes little mean, are continue tell it's availability, quickly, better with really The I can't how bit is the would freight a like labor tell quickly a I on of what you the guess along. down chain had to how whether -- will the

Kevin Steinke

Right.

inflation. improvement some your even -- on chain supply you've that stabilization seen seem it and But from yes, maybe Okay. just does like or that, comments perhaps following in issues up

margin So -- still feel know foresee? bit that you're and you've going are that's the to back actually a beginning gross I at the at cover you I the point of also you've increases do cost point I by that mix. impacted a like expected. what was was price But it and product where better or to you can't seen increases this December than think hold implemented

Andrew Demott

Yes.

the think covering realm. what's It the all as see it perspective, don't of the covering I extra increased I -- amount we're as is you margin as -- I in mean, I pricing you -- The not I some impact of of the can costs. is of as It's see on investments essentially think from term. well that. covering a going with clearly in the it gross mean, that think short making can that

through as I sales start to starting percentage year, think that. as a will we SG&A of that seeing and you the improving overcome the get

Michael Benstock

I'd with that. Michael. agree Kevin, Yes,

additional there's coming costs. is putting year kind us, But of see between momentum that a slight with might the people on, some it excess could somebody towards But are leaving overlap moving as that. as have also ongoing some capital in and towards and to run being of rightsized. we that We'll billion as positions is. business level You'll of some there we we're $X positions to start some going you on we're have this human result, the even some of recruiting, actually the which transition some We're need it recruiting improvement fees some onetime. somebody actually being But a who's the really progresses, which say focused a who's in beyond we being be business.

were the way, it our that think that. year, this double about I almost with pre-pandemic, to million. lot than, you $XXX If sales the a And operating same our less closer same be management believe, business This were million. they'll we're team we at $XXX

know talent bring to to also level got expand. to have to a that of we've already got achieve better even we've results improve. we hopefully guidance we we've know the know And we given. So, We in higher

Andrew Demott

the we we where touched speed with Kevin, get with sales of the will up mean point on in from next going month. I about the we'll also, as get to generate into will weeks, system operation. the few the warehouse it -- I would We I realize my did it remarks that a we in having couple to $XXX,XXX that a

of of already. a depreciation include new system The the first quarter quarter full did essentially

So did that the but the the depreciation operating and have yet additional running. results benefits system were not up of having weighed expense, by

Kevin Steinke

Right.

the we I $XXX,XXX savings notice yes, should of of or about new out savings Yes. can month per Understood. that the efficiencies labor out. other launch I think helpful. guess? I Okay. did That's coming you the we of mean, called And potential think Eudora what system, of

Michael Benstock

from efficiencies The we'll labor. really or It no -- No. achieve a logistics as come result. freight there's or savings efficiencies that primarily will packaging

all move I'm in we Georgia mind, you even all of center be live. COVID got shortly Arkansas. into Georgia now system sure we'd robotics we a back, facility finally remember and long of last to we second when third the hoped wasn't it thereafter, largest very this, already clock because And have But year, a labor. Had live turn one gotten place. distribution back of keep in to kind those of it's savings. seeing else, that pushed So second and in primarily anticipate going we that delays, that, had supply it in that we'd quarter that all we chain in down the everything that moved Remember that our ago warehouse shut as and

Kevin Steinke

Right.

Okay.

and again just comments to maybe Can the well force, that the as the pretty the might environment? that how in on pipeline from strongest speak seeing been years. Uniform into segment sales the combined you're as terms you competitive benefits bullish tie And some of it's in

Michael Benstock

going night I'm to and many, Jake, Jake let that. jump working day who on many you about months, been in. for talk Yes. to this has

Jake Himelstein

Yes.

the nice can can can represent the when can a two one the are of now Kevin, height capabilities is we industry uniforms. branded else hunkering pipeline, that it -- more Everyone their uniform branded Sutter's products, There was, bid. just six of was mean, feeling branded of else with purchase. ever in gifting, a Mill made story we Really, to to COVID do spot acquisition not really really, get And nobody bid, the that strong it's about of uniforms, that was it's years RFPs of. now to kind that nobody to remarks do do right in of throughout And that in merchandise, opportunities. our coming Our December. a was point-of-sale, lot down, and exact we qualified ready production what on-site us been. we opposite landing our probably out quarters really could that's everyone the environment as as of what merchandise, ago across excited. branded what There'll we there speak out in I have move out going over not is We're to was when branded point through There think providers there last the gets front unhappy people, we is now. be of do. during where we no really provider, and

Michael Benstock

to add that of aren't a There in to of out a want lot There clients to out companies just of are I lot said our going a that something I'm there. are lot on there rebranding. are that. RFPs there. focus existing Yes. Jake

the to they Finally, starting and they're with all marketing, through not new advertising, telling rebranding different as logos, but period promotional perfect their value their in, new can for of a is of that they've we whole their and And step proposition and this does. story. them. they're products shop And as got their And be we where that easy else we rebranding uniforms, one-stop of history, all well they're nobody the new just that, worst that's rebrand branded merchandise. offer all do the

Kevin Steinke

M&A just to still it's just I side And maybe months Products Okay. That's be even the lastly, mostly business, the guess, HPI you'd side? the last XX -- in with Promotional But seeing. And the seeing that about helpful. Promotional and ask opportunities yes, of three going the space to I particular it acquisitions wanted you perhaps here also you Yes. guess, say too? well, And in and uniforms pipeline. integrated Are though on the piece. made I Products the talk it's pipeline is opportunities you're about the in

Michael Benstock

activity to transactions going and I'll never companies, more Phil just more branded a Phil not for uniform it companies, sale. companies bit. uniform it over activity to or our all I'm -- tell that, but for turn to we've to you over seen But and merchandise little turn BPOs more about --

Phil Koosed

Yes.

well well that out done companies pipeline. being a said, acquire. which the call going on and more the go We're would healthcare years choose side. b, in and I weighted pipeline world. to and over BPO, industry we with picky the build choosy apparel, Promotional say out and pipeline we the Product, trail then that look look robust a, we uniform is also to it center to there towards we probably at continue being But that on and extremely, we've merchandise think the firms. world out as also at And by, most that have I acquisition branded building heavily

an one active. and our quick, flow want sure company it we're we is a if continue be -- the an a truly synergy fit that would with to that kind picky. incredible want they we're to amazing So, at to We extremely acquiring But and and time, same say, make not perspective, really pay from in can but has what else that business. cash just that of acquisition real will off, add terms also I to of

lot activity the and So, of happening. we'll and us out Michael but pipeline. there the that time. There's people for sell want their said. of at strong, right to still we're are businesses, still pick like build ones to right going A a the continue to M&A choose It's lot

Michael Benstock

like repeat, that have this I'd tell Kevin, to to fit. got and as as important as it's you, the Jake much is we time. It's at said, be increasingly we But be, organic a pipeline. Phil got right believe we acquisitions, the look, bunch doing in said also growth always

going growth if organic heads acquisitions, that we the enough that do strategy. going for we'll think both. perfect our we not make saying we're successful should right -- to with because as us we to respect and us, if a while appropriate. it's we it's equally to to stay deal So look can't when not I'm We down at not for not do it, have

Operator

session. concludes our remarks. Michael This turn for the back to to Benstock like closing conference question-and-answer would over any I

Michael Benstock

months. the a to Well, quarter Okay. few thank, with want everybody, and just rest a you day good joining second for of always, results as We'll week. in I our sharing look to us. XXXX forward Have

Operator

attending you The today's for now conference has presentation. concluded. Thank

now disconnect. may You

Superior Group of Companies (SGC) 9 May 222022 Q1 Earnings call transcript