Ryan Pape, President and CEO of XPEL, Inc. (NASDAQ:XPEL), a company currently valued at $1.26 billion and rated "GREAT" by InvestingPro's financial health assessment, recently sold a significant portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Pape sold a total of 13,544 shares of common stock on December 2, 2024. The transactions were executed at prices ranging from $43.35 to $46.07 per share, resulting in a total value of approximately $612,196.
Following these sales, Pape retains ownership of 1,072,063 shares of XPEL stock. These transactions were part of a pre-established trading plan, as indicated in the filing.
In other recent news, XPEL Incorporated posted record Q3 revenue of $112.9 million, marking a 9.9% increase year-over-year. Despite challenges in the Chinese market, the company's overall performance remained robust, with notable increases in cash flow and net income. U.S. revenue grew by 9.4% to $64.6 million, while Canadian revenue surged by 25.7%. The company generated $19.6 million in cash flow and reported a 10% increase in EBITDA to $21.7 million. Net income rose by 9.1% to $14.9 million. These are just a few of the recent developments at XPEL. The company is also focusing on strategic initiatives such as expanding dealership services and pursuing acquisitions to enhance offerings. It's worth noting that XPEL expects Q4 revenue to be between $105 million and $107 million, with a projected gross margin of 42.5%. A new Windshield Protection Film was launched, and a soft launch for color change films is planned for early 2025.
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