XPEL Shatters Expectations for Q3

November 21st, 2018 by Emmariah Holcomb

XPEL’s end of quarter conference call centered on the overall growth and success for the company. Representatives were excited not only with quarter three’s results, but also heading into its fourth quarter with the same momentum from the previous one. Overall the company’s revenue increased by 64.3 percent, to $29.3 million, when compared to 2017’s third quarter results.

“We continue to see strong demand for our products and services which is driving strong revenue growth in all of our regions. I am particularly pleased with our gross margin performance for the quarter as we continue to make headway on our gross margin enhancement initiatives,” Ryan Pape, XPEL president and CEO, said.

According to the company, its gross margin improved to 30.1 percent up from 23.8 percent from last year. XPEL saw an increase of 6 cents per share in its earnings as well. The company’s growth continued.

“2018 has been a tremendous year for XPEL to date, with our nine-month revenue of $83.4 million surpassing 2017 full-year revenue of $67.7 million. We are excited to see the XPEL brand gain increasing marketplace recognition, directly related to our growing reputation for state-of-the-art products and our commitment to exceptional service,” Pape said.

The company also saw an increase in its net income, it leapt ahead with a result of $2.2 million, at the same time last year its results were $0.4 million.

“As we move through the balance of 2018, we remain focused on enhancing our leadership position, growing our customer base both domestically and internationally and capturing additional market share,” Pape said.

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