The Dixie Group Inc (FRA:DX6)
€ 0.52 0 (0%) Market Cap: 11.21 Mil Enterprise Value: 114.88 Mil PE Ratio: 0 PB Ratio: 0.41 GF Score: 44/100
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Q2 2023 Dixie Group Inc Earnings Call Transcript

Aug 04, 2023 / 02:00PM GMT
Release Date Price: €1.04 (+11.23%)
Operator

Good day, and welcome to The Dixie Group, Inc. 2023 Second Quarter Earnings Conference Call. Today's call is being recorded. At this time, for opening remarks and introductions, I would like to turn the call over to the Chairman and Chief Executive Officer, Dan Frierson. Please go ahead.

Daniel K. Frierson
The Dixie Group, Inc. - Chairman & CEO

Thank you, Priscilla, and welcome, everyone. I have with me Allen Danzey, our Chief Financial Officer. Our safe harbor statement is included by included by reference to both our website and press release.

For the second quarter of 2023, our net sales were approximately $74 million as compared to $83.7 million in the same quarter of 2022. Operating income was $253,000 compared to a loss of $2.9 million in the second quarter of the prior year. The highlight of the quarter was the [7.5% 20-point] improvement in our gross margin.

The housing market remains under pressure due to limited supply, high interest rates and continued inflation. Consequently, the residential flooring market remains weak as a

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