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AI brief of an SEC Form 8-K · XPEL (XPEL)

XPEL Q1 profit falls 41.7% on $90.1M revenue; cuts 2024 growth outlook

Mixed Impact 4 of 5 earnings Written later

XPEL reported first-quarter 2024 results for the three months ended March 31, with revenue up 5.0% to $90.1 million but net income down 41.7% to $6.7 million. The company cut its annual revenue growth projection to 8-10% from 15%, and management attributed the weakness mainly to slower US aftermarket demand, port delays, and lower China sales. Shareholders face weaker profitability and a lower growth outlook, though management said April showed some momentum.

Key points

  • Revenue rose 5.0% to $90.1 million; net income fell 41.7% to $6.7 million, or $0.24 per diluted share, versus $0.41 a year earlier
  • About $1.6 million of annual dealer conference costs fell in Q1 2024, versus Q2 in 2023; normalized net income would have declined 30.7%
  • 2024 annual revenue growth projection revised to 8-10% from 15%; China revenue fell 78.2% to $1.5 million

The filing

CompanyXPEL (XPEL)
Form8-K, current report
Filed with the SECMay 2, 2024, 8:01 AM ET
Accession number0001767258-24-000025

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 6:59 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 02, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.