Weber reports $282 million in sales in first quarter

PALATINE - Weber Inc. Monday reported financial results for its fiscal year first quarter, ended Dec. 31, including net sales of $283 million, gross profit of $64 million, and a net loss of $75 million.

"While our first quarter typically reflects lower volume off-season, we saw sustained high consumer demand for our products globally," said Chris Scherzinger, chief executive officer of Weber. "Like many organizations, our results were affected by acute supply chain challenges and dramatic inflationary headwinds in raw materials, inbound freight, and foreign exchange dynamics.

Scherzinger said he is confident that the company's growing direct-to-consumer and e-commerce business, emerging markets investments and U.S. and European manufacturing capabilities will drive profitable growth and navigate Weber through the current inflationary environment.

Weber, a maker of barbecue grills and grilling accessories, had cash and cash equivalents of $46 million at the end of the quarter, and $132 million of available borrowing capacity under its revolving credit facility. Total debt at the end of the quarter was $1.18 billion.

The company opened a European-based manufacturing and distribution hub in Zabrze, Poland, during the quarter.