Rocky Brands Q4 net sales up, net income surges 22.7 percent

Footwear and apparel company Rocky Brands delivered a fourth quarter marked by modest revenue gains and significant earnings growth.

Net sales for the period rose 1.7 percent to 128.1 million dollars year-over-year, while adjusted net income surged 22.7 percent to 8.9 million dollars, or 1.19 dollars per diluted share.

"We are pleased with our year-end performance, which featured a return to growth in recurring wholesale sales and a more than 15 percent increase in retail sales for the fourth quarter," stated Jason Brooks, chairman, president, and CEO.

For the full year 2024, net sales saw a slight 1.7 percent decline to 453.8 million dollars, but adjusted net income increased to 19 million dollars, or 2.54 dollars per diluted share. A key highlight was the company's successful debt reduction, lowering total debt by 44.4 million dollars, or 25.7 percent, to 128.7 million dollars year-over-year.

Looking ahead, Brooks expressed cautious optimism, noting, "The momentum from the fourth quarter has continued into early 2025, providing a positive start to the year. While acknowledging the ongoing macroeconomic uncertainties, we are cautiously optimistic about our near-term prospects."

He further emphasised, "The substantial reduction in our debt provides us with the financial flexibility to pursue growth opportunities and enhance shareholder value."