DAVEY TREE EXPERT CO Financial Statements (2024 and earlier)

Company Profile

Business Address 1500 N MANTUA ST
KENT, OH 44240-5193
State of Incorp. OH
Fiscal Year End December 31
Industry (SIC) 07 - Agricultural Services (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments18,52619,46016,20111,00022,66113,121
Cash and cash equivalents18,52619,46016,20111,00022,66113,121
Receivables321,810278,280252,921231,311195,906168,671
Inventory, net of allowances, customer advances and progress billings      
Inventory      
Prepaid expense 32,08030,91124,95625,66419,52915,893
Other current assets51,8726,9427781,3232,5571,371
Other undisclosed current assets17,97612,66210,20612,12714,41510,069
Total current assets:442,264348,255305,062281,425255,068209,125
Noncurrent Assets
Operating lease, right-of-use asset104,61286,42355,89340,033
Property, plant and equipment268,539227,985204,717199,850202,285193,183
Long-term investments and receivables28,909     
Long-term investments28,909     
Intangible assets, net (including goodwill)89,05667,61359,92653,21947,50141,671
Goodwill70,10755,98048,25642,28537,97135,477
Intangible assets, net (excluding goodwill)18,94911,63311,67010,9349,5306,194
Other noncurrent assets22,84142,66529,75622,33521,76929,156
Total noncurrent assets:513,957424,686350,292315,437271,555264,010
TOTAL ASSETS:956,221772,941655,354596,862526,623473,135
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities127,625118,159141,22893,62288,01987,909
Accounts payable50,17143,02142,78741,19143,95845,093
Accrued liabilities77,45475,13898,44152,43144,06142,816
Deferred revenue 3,7233,8883,2423,129
Debt26,87225,26821,81326,50322,51416,315
Self insurance reserve 56,22148,86737,70730,88227,43423,782
Other liabilities      
Other undisclosed current liabilities 30,92924,79415,88211,5361,345651
Total current liabilities:245,370220,976219,872165,672139,312128,657
Noncurrent Liabilities
Long-term debt and lease obligation9,48165,98143,09126,9952,862119,210
Long-term debt, excluding current maturities      117,351
Capital lease obligations2,8621,859
Finance lease, liability9,4818,6466,4791,795
Liabilities, other than long-term debt170,82488,68282,26274,38166,47663,878
Other liabilities24,02011,58310,68912,26810,12519,966
Operating lease, liability68,87857,33536,61225,200
Self insurance reserve77,92677,09971,57362,11356,35143,912
Other undisclosed noncurrent liabilities230,768123,53177,068143,354155,563 
Total noncurrent liabilities:411,073278,194202,421244,730224,901183,088
Total liabilities:656,443499,170422,293410,402364,213311,745
Temporary equity, carrying amount169,978169,931153,387124,555119,049123,520
Equity
Equity, attributable to parent129,800103,84079,67461,90543,36137,870
Common stock38,55038,37937,80137,76737,27236,447
Treasury stock, value(363,502)(306,242)(270,360)(246,595)(235,042)(198,327)
Common stock, share subscribed but unissued, subscriptions receivable(20,345)   (729)(1,775)
Common stock, value, subscriptions23,864   6,7997,529
Additional paid in capital162,828135,897110,06996,36682,62358,554
Accumulated other comprehensive loss(5,588)(4,173)(4,547)(5,403)(5,034)(8,393)
Retained earnings293,993239,979206,711179,770157,472143,835
Total equity:129,800103,84079,67461,90543,36137,870
TOTAL LIABILITIES AND EQUITY:956,221772,941655,354596,862526,623473,135

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues1,511,0811,378,0531,287,5521,143,7201,024,791915,958
Revenue, net1,024,791915,958
Cost of revenue(55,197)(55,971)(56,715)(59,837)(56,969)(53,086)
Gross profit:1,455,8841,322,0821,230,8371,083,883967,822862,872
Operating expenses(1,355,648)(1,220,816)(1,136,636)(1,014,338)(912,132)(815,867)
Operating income:100,236101,26694,20169,54555,69047,005
Nonoperating expense(8,908)(6,846)(3,420)(7,764)(11,155)(4,125)
Investment income, nonoperating9551752,135348350292
Other nonoperating expense(9,863)(7,021)(5,555)(8,112)(11,505)(4,417)
Interest and debt expense(6,129)(4,973)(6,899)(8,514)(7,039)(4,886)
Income from continuing operations before income taxes:85,19989,44783,88253,26737,49637,994
Income tax expense(23,909)(23,748)(22,945)(12,470)(9,519)(15,874)
Income from continuing operations:61,29065,69960,93740,79727,97722,120
Income before gain (loss) on sale of properties:65,69960,93740,79727,97722,120
Net income available to common stockholders, diluted:61,29065,69960,93740,79727,97722,120

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:61,29065,69960,93740,79727,97722,120
Other comprehensive income (loss)(1,415)374856(369)3,3593,769
Comprehensive income, net of tax, attributable to parent:59,87566,07361,79340,42831,33625,889

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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