SGC - Earnings call transcript Q3 2024 | Superior Group of Companies, Inc.

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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. upon expectations, based assumptions. estimates are statements management's projections, current and Such forward-looking known such think, that from and suggested such such anticipate, expect, may similar by statements hope identify Words to believe, those of cause outlook, future as differ and unknown and risks and results variations expressions the statements.Â Forward-looking uncertainties statements. involve materially words forward-looking the the and company's Securities on and in filings the risks company's not report disclosed limited recent uncertainties but most further to, Exchange annual Form and the with on are Commission, quarterly including, Such Form periodic XX-K reports XX-Q. investors forward-looking the urged to forward-looking statements. potential undue cautioned consider evaluating herein other made place in are and carefully Shareholders, readers statements not and such these on are to factors reliance does statements, to law. company not by required forward-looking as the update except undertake The the And over now I'll turn Benstock. to Michael call Please go ahead.

Michael Benstock

well everyone, I'll as we'll welcome, as third our the call. for well the line and growth the for our questions.Â Our profitability. the more improved your open performance that, third year After overall quarter quarter call quarter operator, second discussion over us detailed will through Mike financial is quarter highlights a walk going rest with with X and top year. financial versus of When outlook as earlier done, you, to as the and greater then discuss to Mike, hand to segments. start who today's Thank it business I'm

on the call. inflation, the QX uncertainty and rates, half sense election acceleration existed still the on While we achieved spoke that around conflicts, we first given part some hesitancy interest over we about results geopolitical that's customers our the all year of the presidential

revenue the the from might benefit quarter contemplated supply quarter of we resulting You chain shift issues. that into the the second third recall

basis, driven double-digit the to up both most growth ago the period, health care of produced conditions.Â On soft somewhat market branded internally these by products. a year to million, XX% continue of versus still apparel we and execute consolidated revenues We make $XXX in

to $XX.X quarterly early we year, percent our diluted quarter good all all quarters. hold flow, We up were are allowed a The achieved was proud news, prior X.X%. Breaking we prior ever made further, to up flat top to our growth-oriented in earlier. stages this of as EPS financial $X.XX and in say of a $X.XX investments the in On when to only EBITDA point down million, highest us Putting largely rose to percentage products the and percentage QX of slightly services. basis able PPE by continue from we exceeded our year in that SG&A almost core are EBITDA improve strengthen generating were mentioned from a revenues together, our strong time points of ratio. at gross foundation this the net our operating which over another have which already pandemic. other of $X.X XX.X%, to the margin our XXX leverage sales cash climbed includes revenues ever quarter to response million also third margin the this of XX% was XXXX our these full this expanded and positive

a very compelling segments, turning will investments of but expanding strength the calls. forward, I allow a within share very a to on continue opportunities capitalize markets.Â Before what mentioned X picture still reiterate Superior and big Going I'll on highly discussion growth attractive our Company financial fragmented growing markets. small large, From end our Group end standpoint, has prior around to our X strategic to us our

existing as and our more new than customers. retention with take our share an in We people, emphasis, of intelligently services, customers to of on to investing technology products are continue excellent always,

channels, channel let's business of segments, versus wholesale stores. growth selling and quarter conditions in health our prior our to business was benefiting soft Now revenue the online to retail care despite market Apparel.Â Our starting from wholesale our year apparel in third quarter, XX% with the both Healthcare up direct-to-consumer, shift continued

the gross third chain Our revenue as of in of offset partially as an to timing sales more we points increase was part XXX points. due XXX that of in a The SG&A QX last percentage quarter increase percentage of mentioned. year revenues to the also in benefited from in basis supply basis than compared issues already by our margin

due to did in was SG&A and rate sales online best awareness rate the support as investments year-over-year, to and top talent. the in mostly to marketing well investments the brand our of XXXX, channels increase drive While at continued its far as level so Wink

existing As achieved of Healthcare $X.X a shift year revenue move Products XX% revenue as segment increased up our $X.X million the of customers, in with our growth which also new compared including revenue EBITDA well from million.Â Let's customers. was Apparel addition of earlier as our last to was the year. by many mostly to result, segment, discussed on the ago volume increase driven Branded The

indicated played solid, fair the amount a growth were which though we're some the we customers our Overall, second offset will out now, call. and coming customer share has improves. legacy helping once even to market by For largely taking reasonably believe on in orders still prior with there's which environment trends quarter, is the adding of demand business new Similar customers, further fuel as caution. smaller to our

percentage by the as to expanded during points. of addition reduce quarter, top also and basis margin growth, basis In our gross XXX points, line XXX SG&A were we sales to the a able

year our new $XX.X lower is which EBITDA EBITDA up percentage margin the expanded to partially than and customers. our XX% our increase Centers, margin year-over-year points.Â Next offset had prior sales more driven sales highest than from more X% over X up by was million, customers, Contact a by result, a existing segment, As

currently margin in and new our are win affecting and healthy investments Our growth of pipeline reflected also offices gross in but to and organic support our are SG&A. talent satellite rate future business,

was our As result, $X.X year million a in million prior versus the EBITDA period. $X

to Our to centers and longer-term count enterprises. contact customer small medium-sized catering our strategy for is grow

that, significantly launching and In very customer and team the on also over third benefit sales deploying I'll marketing it our grow take in and increasing experience, to and spend, time. we're Mike, profitably detail our Mike? enhance latest outlook. our full competitive to addition to our results over With quarter edge technology the to you year efficiencies growing through turn who and will update us our

Michael Koempel

and Taking Thank so far everyone, which year-over-year, grew today's growth for call. on high-level the revenues quarter, our to despite conditions. strongest what drove revenues this this with to million. soft rate a were look third and XX% up market our XX% XX% being we revenues you, Starting million at Healthcare for consolidated performance, were results $XX Michael, thanks, Products was still $XX Branded apparel year up

delays benefited $XX points gross to quarter Haiti As we as margin supply sourcing XXX last new in results was within with revenues and XX was mainly due partially branded customers. and cost manufacturing saw for for facility gross margin by wage increases from centers chain to as third due as with of our and profitability Both favorable we consolidated basis during expected, at year-over-year referenced Branded segments. Contact growth quarter existing healthcare the of part up basis basis revenues the growing for well favorability grew Apparel offset over prior lower the our We X% Products XXX year customer up production contact million margins, quarter the mix with quarter expanded these X down our timing margins quarter the revenues centers third points, Healthcare goods stronger pricing to during benefiting XXX points, and agents. to XX.X%. products.Â Gross associated from respectively, also our

expenses flat driven up primarily from year, centers. as just within to marketing satellite $XX million Versus a costs, professional contact to office able bad expenses basis were care hold employee-related for and XX.X%, $XX SG&A. Our commissions, in health debt we almost XX sales, investments a percent Turning expense were by up to and increases year fees million, SG&A apparel, points the expansion prior earlier, of

the Moving to line. EBITDA

by margin, $X.X $XX.X XXX ago partially to Branded margin third driven basis, points Our XX.X%, million our point a year in expanded segment-by-segment strength. marketing Healthcare EBITDA leverage benefiting from both representing basis EBITDA from investments gross previously and a EBITDA full up talent. operational up the our line on by million, as Apparel grew gross XX.X%, Products The percentage in expansion margin offset expanded in points and quarter to to margins higher basis margins, quarter, was top the mentioned.Â On XXX

drive smallest growth. by agent increased contact and XX.X% talent XX.X%, segment, the investments in for an saw driven the to from decline our pipeline centers, margin aforementioned EBITDA costs future to However,

a the $X.X per net cash interest million third $XX the year-ago equivalents diluted our of period, sheet third basis share, September Shifting repurchases and as start period. a prior in remains point rate.Â Our improved debt quarter, from to I'll from up well from third XXXX. quarter income average million a the debt XXX at of cash our outstanding down at which further million $X.XX the outstanding moment. year, $X.X in from statement, for Moving decrease by the year-end the equated touch gears, our $X.X average include in $XX in the million interest improved We quarter million This XXXX. in million, million to million, end, quarter reduction of $X.XX at with quarter $X.X was up $XX while results million share $XX $X.X improved on to also our million compared was driven ended $XX These solid. expense weighted in as our income in year weighted balance during

ended leverage into announced repurchased an strong, end view the Our as at shares and cash for per relative third million, We the to X.Xx an $XX.XX our XXXX million year-to-date, remaining price for XX-month shares during net and our of a on million to authorization $XX a XX, X.Xx year average the $X.X trailing generated August of $X.X covenant with and was remains the third share. ratio Xx quarter, earlier.Â Regarding EBITDA, under share plan repurchase operating continue translating approximately roughly we quarter our having flow improvement value. buyback quarter compelling our XXX,XXX

Therefore, our XXXX to I mentioned per $X.XX of take earnings last first-half turning of quarter, reflects driven to we our results. and would continue acceleration With $XXX our that, share range results third-quarter strong to We're outlook. full-year operator, full-year expect Michael to million Now be that the reaffirming over to expectations, the our in diluted by we range $X.XX. largely $XXX questions. in revenues the happy million and which

open could lines. the you please If

Operator

our Steinke with [Operator And first question from Barrington Research. Instructions] comes Kevin

Kevin Steinke

last and some delays you chain revenue some from to off quarter wanted pushed supply and obviously, by asking the of start I out about you kind to the out talked characterize just second today, quarter that that Would just revenue year. into pushed about dollars million the second of the kind the here from few half of of still range? third quarter being benefit the in

Michael Koempel

Kevin, this quarter. dollars, quarter, Yes, all I about here mentioned estimated last largely we and the Mike. third in that the is million impact was that received effect few as to a case, yes, be

Kevin Steinke

Okay. and terms post-election outlooks want of or from your improve there? customers might maybe bit kind And customer little on sentiment. you to Maybe could mentioned if any you a their spending in what things still if factors more now in although other dig plans to improvement modest hearing we're some of touch some and their that that into just hesitancy, you you're start

Michael Benstock

Okay.

to have it business segment. take You by

the same And Products. hopefully, edging that branded So after quarter, uncertainty, I Demand I'll mean, But more election, aÂ few and in this Branded the very had tightly. start morning, with nice the the still, we're thing will fourth stabilize we last a off that third people the become there's very were We least are quarter. managing one quarter. night and their always the hearing is is And products. hearing at in things. presidential still obviously, off that table certainty But around up. much budgets last surprises with certain

surprises a fourth Sometimes stupid very quarter. like last had we year, good

future. we some an against us surprises of right really in where excuse again could fourth tough We there kind numbers.Â But of this perform well products, for quarter, performing. the this is should now. none branded We're we're going be in pretty those not up in performing So well year

quarter-to-quarter As it our feeling of very as our don't over against up But and numbers from I basis. range last share said, the we're be huge, hit keeping within year. take we're Mike manage we do and over have can as those we again, that lot and business a the we're tough from the yes, say said, we market very very, the we I can numbers. in guidance guidance of we very, continue And is market, so going a aggressive. to comfortable and But

Retailer a brought to really Association view our that put team consumer long-term that with new real that's get We Everybody a more optimistic. great has there's the we the much spending products called business. traffic mostly just went retail our care to all were think seen it's season during together.Â When pretty move growth It's where into our Jake We where the last again, except some a And health future walking consumer-facing we strategies business. distribution. we to people some our retailer in things a excited in going They're the more that digital. rest in URA. of bell we're about channels of the And with have We in this and of Show different the their the election the was branded the are are and you with week market trade for Uniform definitely brick-and-mortar. show sell it's apparel, were quiet. the the The ball. But well, seeing in our slowdown newness of that doing inundated to all seeing booth, we've quite accounts as stores while of show soft to of be we the was cautiously team.

no think But demand just question, have is in much, pipeline slow are. business of We've side -- will seen now, it's discernible going answer I -- businesses along industrial the contact really replenishment centers that said ask our business. business. believe really that's postelection. and the we the not fine.Â Now before, is don't and So on is We robust. difference decision-making. to I you're the so But business laundry going we other buying a don't seen That I type our like return that it the on it on of know but this

and crushing Our I they're a And single think prospects so being now been We new sales making team it and opportunities young a it week. only of most bringing is, through the for putting for to that year. every really months, think, is on at I the go they're the they've that they're few progress. great all this table

Our scale rates write-off, cases, Mike as they speak rates We some an in win back considerably nice. well win couple to as later sometimes that AR then a a write-off. of offsets AR seasonally. to can which had do but are about as customers on, and had some was And those he also an we customer spoke lost

So, election direction, I move is a but in right things Fed are already interest progressing behind made hope The on soon is rates and the us. going to one. presidential would make the certainly

And lot noise our there's will excited less a next think next for budgets I in think future. year. our the year reflect optimism. I I'm for

Kevin Steinke

I centers lower existing that there's market customers few customers. mean is And going maybe know insight. just excellent from due overall if maybe in out That's you a referenced again, contact or also to had decision-making some Excellent. have don't some Okay. taken I you just the I revenue mentioned I slow hesitancy think what's the in some environment, there? on guess, that seats --

Michael Benstock

think of a of I combination it's things. a lot

solutions. of the we are they are lookout for constantly One spoken for more expensive the cost-effective that less on geographies looking about new things is much customers, because haven't we're

process cost-effective in many to solution. many, to cost-effective we away up over we around nearshore For we're a years of building But have the nearshore the that than go and strategies solutions find might provide that found customers Philippines us a next is still know and expensive further And very that less many an to leave us are alternative places because environment world. least cheaper the India, there might think the Africa, somewhere. at give environments in that who South we the year in they will other and we

the a to So tell be phase would We're able a along. we're we'll But you exploration of very far in year now, not story. I from imagine different that.

Michael Koempel

revenue this decreases. look existing relates could customers is wouldn't existing this quarter-to-quarter, it see from any Mike. to I or as the just customers, from we sign lower a quarter And would trend. certainly of at add, Kevin, increases as I

In of for half customers had this existing the added seats fact, we first year.

there So customers flows obviously, forward. it's on can focus ebbs and adding in new going that addition be typical our to,

Kevin Steinke

Okay. range. I strong comp bit so guess the supply forward end That's the and quarter, the move tough sequentially outlook about as down the some into or guess, you range here, guidance third hesitancy, third cetera. we I implies Is third lastly, just, chain factors that the you quarter mentioned would helpful. a way revenue, with I revenue the ago et mean, the I of that top the kind you guidance the revenue customer think it? maintaining to quarter of compared down to year you guess, and of push attribute should flattish

Michael Koempel

right, Kevin. I think that's

think tailwinds it, third call I'd I we certainly had the here quarter. some, in

on benefited say, Michael us touched the shift quarter. the sales near gave again, from which second third that quarter, I'll You record out of mentioned, as the we for

So it down But Michael had. going quarter, flat still would again, a that's within the guidance quarter given imply the that But to to said, fourth range. we're we be the as tough strong sequentially. that comfortable comparison in

Operator

And Sidoti & Sidoti the Company. comes Jim question from with next

James Sidoti

long to contribute? were board to folks typically you some for does in bring it sales new like to sounds quarter. them able It on take How the start

Michael Benstock

is we new Yes. What that brought were we TOG. for on of salespeople speaking

really, fortunate a sales sales We have ago, we mind, business brokers, been we've to use we Jim, year we referrals, that very a And have sales that so about didn't and prior word use force. without you our a that We TOG. force of in force. built got to a keep mouth very, website, at

to we've within hire whole had with we the from just That's to to to they us with yet some list. come able had ago, come that is where answer started turn not them, connections new industry, we us a but trying know.Â We've lead I not But very customer. be if their think prospecting into some come not with salesperson they're because people they very weeks, the customers us, would up you who a good know connections. is within We X to don't long we're know signed typically time with a they're the hope my some of year, So they typical. which up

We have paying they would tell. very many for within they're year, certainly, times paying at to them. good and producing that within story months. a a themselves pretty quickly revenue, The pretty be goal good recognition X should But in least what of we're be

James Sidoti

power Is And pricing how And price that prices? raise ago. you your this cost about can Great. continue you do put point? to you a would you I think in year know a go Could at describe increase up? your stuck?

Michael Benstock

question. interesting an It's

largely been basis they we and and space on they think to per For our our what people computers, United all in outsourced fine who XX% all United a has things as much having when provide than is before, all because paying considerably it's as they're of have the States other we built XX%, as have just bonuses lower how hour sometimes do the never less pay office overheads in business, people that. well and which have cost the than as to pricing States, the their of recruit that other they

saves rate So that lot is flat ours money. them a a of

save even blended at the which are lower because it's why feel more customers that we down people, their us without it all solution price our cost which outsourced long said not going price, somebody between to sensitive. want the in an of looking we would to to time eyes for recommended cost and it's we be competition. future, a in who I find different things some for gets advantage who much in That so that to be are has nailing a to cost they've great all want like earlier, a kind as a We're lower money.Â For them, price, people been is nearshore.Â And So alternative and down them. and like right a to us of can countries stars a have

of have We there. a ton competition out

we're our to much it's very, business it to till intention So been be hasn't we've But been to haven't an double digits, got price that because of now, which as get if outsourced. smaller this going to who very back customers again. issue grow conscious. is Up

you X,XXX You're to about on having put year. to road, X, as people grow down the literally X a have we'd on talking years putting be

going XX that not You're with do seat customers. to

So find a proposition for you've well. as value got folks larger to

James Sidoti

bought And of then It for about in one $X quarter. million in you worth right. back shares like me. last the looks stock All the

authorization. was it Do XXXX? think that complete to in million a buyback I you $XX expect

Michael Koempel

Yes, Jim.

So our about of million had $XX as yesterday, of the under authorization. million business close we $X.X remaining

share we our we discussions buy obviously, So our market as good value, to continue good Board where forward ongoing certainly we on want manage But the authorization. in of monitor again, price that continue current feel and what to is extent plan a may obviously that and see going And authorization we But fit continue against we'll we our future. the basis. to the have fit. the dialogue that's continue determine strategy the and regular stock are do we we'll with with a opportunities get to Board again, the purchase the and as in believe capital to into under we deem to like context the more overall there

Operator

with Cox question Davidson. D.A. from Tierney The Keegan comes

Keegan Tierney Cox

a had you strength in was any it? pockets question industries macro Branded that just wondering the or seeing Products business. factors segment. any were I impacting I specific Are there on if of

Michael Benstock

buying. a of customers has we big I in think that resumed our year And lot now. is would a what I say a ago, downturn saw tech

fourth we great good bit. we throughout And down maybe a in year, quarter a little dragging quarter, year year. had what the even last though things that's that's was the news. struggling So were ago, But a

before. me more me ever amazing than budgetary literally, how more concerns. RFPs we seeing we're customers get there today. to these to bids on lot ran because they and Board dollar work it's normal so year. when my those things they a think some defer would But these.Â And next to we've Jake to these it have by I they're and to closed asked under than done of There's frustrating that's with we've And circumstances, very until things saying, already, fourth I and we probably multimillion And of line quarter still ever, quarter year healthier now revenue and first the would and So done customized that the coming in some into have quarter on more us, us out of items. and are seen finish some even next this to back coming back second

So bag. it's kind of a mixed

Michael Koempel

continuing I see much we're new explained second like which, we us is of time. the size, obviously, in Keegan, actually just advantage we customers especially again, before, an we over that because, to can grow work, orders, smaller think as quarter, order to mentioned wallet share And would more we add, to with

not that point, or particular weakness to see a But Michael's industry. one to particular in continuing any trend. concern So

Keegan Tierney Cox

Awesome. And follow-up. a then just

mentioned a wonder pricing could and color that. a You care apparel favorability sourcing little and products. health give in I on if just you little branded more bit of

Michael Benstock

gives the mean for had take as to branded we favorability that. we In promotional order, we production some where area, opportunity. order where the source referred quarter. higher pricing on and that an higher space standpoint, in we're again, some sourcing push that where of of for continue in have can have flexibility, From where where the it a us we obviously, advantage of I it's focused larger opportunities in margins product by to an price space, based we terms what mix Sure. pricing, of the particularly had on sourcing do we in to always pricing, certainly customers, our to I we're

of for working kind the sourcing a a which quarter. drove mix combination here margin us together, higher third of in So and product

Operator

Singular Marsh The comes next question from Research. with David

David Marsh

say they're bit guess, quick QX, one mean, would in I Or that point? terms shipping you I experienced mean, in completely that? the guys resolved a housekeeping. you still little at delays are of had that you Just, I seeing of this

Michael Benstock

our of not very of environment. that have pay container logistics Prices impacting becoming up strike, It's factories. or logistics what name gone get Well, things in our group of adding and in shift we happen each had I us. some make these But question. our and both competitive so We'll good lot which our do was they a to they're say of planned care around it time to our that into times Products to country a sitting the sourcing contemplated that businesses, the a of I that write-up impactful of them no, the already, the less people a Branded prior to this in I'd places country had that if, shipments got then very, Bangladesh accordingly. to for it's to the a obviously X Coast were health from is be container advance there Trump We've there to the impacting in product can House, we've huge happens. Canal It's lead The the There things world see from now for pricing some in the isn't that is White because where East delays. and And also side. me rerouted. recently in residual Suez different the countries are destined rerouting XX other was shortages are the Middle side. Getting Pakistan. West the on that's to price. but ordering a traffic. picked all conflict when. East delays trying up Coast

which pressure as created was and a there reserved, has a delays. on So well lot of quickly lot product a was logistics factories lot of as move companies to

Michael Koempel

our to call, obviously issues adjustments made Dave, the when the began times we to lead see we like mentioned quarter. in second last and planning our in we

toÂ So a impact expect have on in those we wouldn't the near significant future. delays us

David Marsh

and that,Â end here if kind DoÂ inventory your of they if you've the the of the had the you have back decent in is year follow-on of guys to prior numbers down a a from and quarter? inventory fourth it's in supply they amount while. roaring to Just in kind of the orders as a come come one the lower

Michael Benstock

do. say, have of It's there's say, that would for question. we products. course, demand certain chasing, a that I'd said, pockets chasing we certain are With I that we great customer inventory of been overall, just to changes in always, due

in So supply to into positioned working our we've inventory to the products. XXXX comfortable well. good quarter we we're with chain that appropriately position. head together fourth to planning we we select overall fuel Again, as team, feel holes some just and we're Overall, as plug working are just got obviously, Again, make planning sure in the the toward a our

Michael Koempel

had we fourth ran it most of mean would inventory we incredible out quarter imaginable. the in quarter, If

So say or I I happening don't that truth. that if is know I welcome should the but not,

David Marsh

wish careful always just kind what on on if acquisition of for. Yes, for you just the curious will. landscape, Then lastly be me, you

this find really about you there if pick talk I'm guessing priority assets but You done not guys just up some have you to some anything are out some can that like, it attractively maybe Could you year, opportunities are of try might there doesn't perhaps. look where priced? order

Michael Benstock

and smaller got ratios talks lot are now, serve, we of in do there at right pretty much competitors. said to speak do competitors. lot to to we always we want room we them, the about we're larger in we It's of a a whatever what least do aren't in mostly with markets except As the don't people. Obviously, past, we've our leverage with acquisitions say before they

So we and the we the nature pick of of do. to want acquisitions choose kind size the and

in where and we X, tell just I be you are of there. both there's has there We roll-ups will a There to future. Then in call that been geography particularly very also do give think ton to looking us some always many that would us. opportunity always X, in however areas do might near active branded can products centers, to we're we're advantageous a X, the be able on

Operator

The Kevin Steinke next again, Research. with question from, comes Barrington

Kevin Steinke

to here. I one just sneak wanted in more

ongoing in optimize year-to-date mentioned, of striving earnings although a further kind you at as growth-oriented So efficiencies revenue, you and it as third in investments your percentage while flattened out the release, to the has of been SG&A same here time, margins. mentioned quarter. up

you get continues, balance some the down slow we about investment they've go growth And about forward? forward. leverage think think even does that at opportunity to do SG&A line to a and if here? continue there going Just leverage? trying you of those Just been? similar the Do the pace where as investments trying pace expense potential Or can to SG&A think growth

Michael Koempel

Sure.

I think I with year, for the will balance Kevin, our in of line trend. pretty be the the well SG&A year-to-date think rate

investment we're Michael this launch. about talent direct-to-consumer has I'd in expect our in So significant investing incremental mentioned year marketing sales business, here our not talent, I'd in investments. would our in of an particular, overall, year. talk In of that the a making increases been contact term. one and I each obviously we segments, near lot additional say, center a been of obviously which now in lot past more We've X investment a in in say

have we that those rate put bigger recognize but think investments would term, I go line of investments these growth we pressure shorter like shift and into off as get feel in as XXXX. some top forward. leverage we've investments Again, begin our this made year that some get we So we'll the we on leveraging to we expect

Operator

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

Michael Benstock

Please our for today. any year thank to results. Thank you for We, Enjoy being interest everyone, with with you, your course, further have in if out look SGC. update the reach you, and questions. of us forward next evening, as full always, providing

Operator

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

disconnect. now may You

Superior Group of Companies (SGC) 6 Nov 242024 Q3 Earnings call transcript