revenue $482.0M, net income $22.3M. Rocky Brands net income +95.6% on lower interest, tax; tariff costs in 2025

Filed March 11, 2026 · Period ending December 31, 2025 · Compared to 10-K Mar 17, 2025 · ~2 min read

Key Changes

• high

  Net income rose 95.6% to $22.3M ($2.96/share) vs $11.4M ($1.52/share) prior year, driven by $4.8M net below-the-line improvement (non-operating/other +$7.0M, income tax -$2.2M) while operating income grew only 19.7% to $37.2M. The bottom-line gain came from lower interest expense and tax rate, not operations.

  MD&A: Net Income & Below-the-Line verify on EDGAR →
• high

  Company paid $18.7M in new IEEPA tariffs during 2025; Feb 2026 Supreme Court ruled certain IEEPA tariffs unlawful, but administration announced new tariffs on all countries. Substantial uncertainty remains on duration, levels, and potential refunds. Inventory rose 8.7% to $181.1M primarily from tariff-driven cost increases.

  MD&A: Tariff Impact & Risk Factors verify on EDGAR →
• high

  Operating cash flow fell 69% to $16.3M from $52.8M, driven by $24.0M working capital drag (higher inventory and receivables from tariff costs and sales growth). ABL availability declined to $39.5M from $55.9M as borrowings increased to fund working capital.

  MD&A: Cash Flow verify on EDGAR →