XPEL Q1 Earnings Top Estimates On Solid Margins, Sees Good Momentum Ahead

XPEL Inc XPEL reported first-quarter FY23 sales growth of 19.5% year-on-year to $85.84 million, beating the consensus of $83.62 million.
The after-market automotive products company registered an EPS of $0.41, beating the analyst consensus of $0.37.
Product revenue rose 15.9% Y/Y, and Services revenue increased 34.6%.
Gross margin for the quarter expanded 330 basis points to 41.9%. The operating margin was 17.4%, up nearly 350 bps.
The company held $8.33 million in cash and equivalents.
Ryan Pape, President and Chief Executive Officer of XPEL, commented, "We continue to see good momentum in our business and remain focused on driving growth as we move through 2023."
Price Action: XPEL shares traded higher by 4.23% at $73.36 on the last check Tuesday.
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