XPEL Reports Record Revenue in Second Quarter 2021August 11th, 2021 by Editor
XPEL Inc., a provider of protective films and coatings, recently announced results for the second quarter and first six months ended June 30, 2021, with record-high improvements over both the first quarter of 2021 and second quarter 2020.
Revenues increased 92.0% to $68.7 million compared to second quarter 2020 and increased 32.5% sequentially compared to first quarter 2021. The company’s net income grew 156.3% to $10.2 million—or $0.37 per basic and diluted share—compared to $4.0 million, or $0.14 per basic and diluted share, in the same quarter of 2020. EBITDA rose by 139.8% to $13.6 million, or 19.8% of revenues compared to $5.7 million, or 15.8% of sales in second quarter 2020.
The first six months of 2021 have been positive, overall with revenues increasing 87.9% to $120.6 million as compared to $64.2 million in the prior year period. Net income increased by more than 200% to $17.0 million, or $0.62 per basic and diluted share, compared to $5.6 million, or $0.20 per basic and diluted share, in the same period of 2020; and EBITDA grew 176.1% to $22.7 million, or 18.9% of revenues, as compared to $8.2 million, or 12.8% in the same prior year period.