Xpel, Inc. ( (XPEL) ) has released its Q3 earnings. Here is a breakdown of the information Xpel, Inc. presented to its investors.
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XPEL, Inc. is a leading provider of protective films and coatings, specializing in products such as automotive paint protection film, surface protection film, and ceramic coatings, with a significant presence in the global market.
In the third quarter of 2024, XPEL reported record revenue of $112.9 million, an increase of 9.9% from the previous year, alongside a gross margin of 42.5%. The company’s net income rose by 9.1% to $14.9 million, demonstrating robust financial performance despite challenges in certain markets.
The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) grew by 10% to $21.7 million, maintaining a steady 19.2% of revenue. Geographically, revenue saw significant growth in Canada and the Middle East/Africa regions, although sales in China declined by 11.6%. XPEL’s product and service revenue also experienced notable increases, particularly in window films and dealership services.
Looking forward, XPEL’s management remains optimistic about the company’s growth trajectory, focusing on capitalizing on its momentum in the US market. With estimated fourth-quarter revenue projected between $105 and $107 million, the company aims to offset potential declines in China with continued expansion elsewhere.
