What's GROWING
on?
July 2024
Harrell's Employee-Owner Newsletter Summer Edition
2023 Shareholder Meeting
Annual Shareholder Meeting by Jack Harrell, Jr., CEO
Total sales for Harrell’s LLC and HCS were $450 million and the EBITDA was $50.9 million, which was $5.7 million up or 11.2% increase over 2022. This is the best year ever in our company’s history. All debt payments are on schedule and we’ve finished the complete rebuild of Line 7 in the POLYON Plant.
On June 26, 2024, we held our 8th Annual Harrell’s Shareholders Meeting via webcast. In our meeting, it was exciting to reflect on 2023 and the outstanding year we had, update you on the first five months of 2024, and announce the new stock price and the new evaluation of our company as of December 31, 2023. It reminded me how truly blessed I am to work alongside the greatest team in this industry! If you missed the meeting, here is a recap: Thank you for all you have done in 2023 to make this another great and record year for Harrell’s. The Lord continues to be gracious to us. The 2023 financials were great! Another record year for sales, margins, and EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization). Our 2023 sales for Harrell’s, LLC were $439.6 million, which is up $11 million or 2.5% from 2022. Our EBITDA for Harrell’s, LLC was $38.5 million, which is $5.8 million or 15% increase from 2022. Our 2023 sales for Harrell’s Coating Solutions were $10.6 million, which is down $6.1 million or 36% from 2022. Our EBITDA for HCS was $12.4 million, which is down $100,000 from 2022.
Continued on page 2
Haydee Lara, Editor Oscar Maldonado, Editor
ESOP Meeting Continued from page 1
The financials are complete for the first five months of 2024 (January-May). Sales for combined LLC and HCS are $169 million, which is up $13 million over prior years, which is $5.1 million ahead of budget. Our EBITDA is $9.7 million, which is up $3.2 million over last year and $3.9 million up on budget. 2024 is off to an incredible start thanks to El Niño in the early months of the year, the nursery market rebounding, a strong golf market, and growth in the lawn care sector. We are looking forward to a strong 2nd half of the year to build on the great start that we’ve had. Now for my favorite part, the 2023 stock price. If you remember, we started in 2016 at $.72 a share. From there we went up to $1.94 in 2017 and then to $2.23 in 2018. In 2019 we were at $2.25 a share. In 2020, during a global pandemic, our share price increased to $6.50 a share. We followed up that year with a share price of $12.47 in 2021. In 2022 we had a correction year and the stock price dropped down to $10.97. I’m excited to announce our 2023 share price has grown to $13.22!!! We distributed another 200,000 shares to employee-owners so your new shares and the shares you already own will be valued at $13.22 a share. Congratulations to you all, you’ve earned it! I feel extremely good at where we are at in 2024 and I have no doubt that the best team in the industry will finish the second half of 2024 strong and we will have yet again the best year ever in the history of YOUR company. I can’t thank you enough for all you do. YOU ARE THE BEST!!! Your hard work in the past year paid off, and our stock price has increased again: 2016: $.72
2017: $1.94 2018: $2.23 2019: $2.25 2020: $6.50
2021: $12.47 2022: $10.97 2023: $13.22 Questions? Contact the HR team! HR@Harrells.com 863-687-2774
2| July 2024
Ask the TurPh.Dudes
Spring Cleaning… For Your Yard By: Jeff Atkinson I’ve lived in the same house for five years, and I’m starting to get a feel for what agronomic issues I can expect to encounter year after year. I’ve tried to get ahead of the problems this year, so
Fix Irrigation Issues Now To Prevent Dead Plants Later My irrigation system is around 23 years old, as best as I can tell. For much of its existence, it has been neglected, and now I’m paying the price, literally. But the financial price I’m paying now will prevent the despair of looking at dead turf and plants once the summer heat picks up. Usually, a poorly functioning irrigation system does not cause issues during spring months. Rainfall is typically adequate to mask any issues, at least in my part of the country. In a multi-zone system, you may not even notice that an entire zone is not functioning if you’re not paying close attention. Before the summer heat arrives give your irrigation system a thorough once-through to ensure all zones are functioning, heads are not leaking, and nozzles are not clogged. Identifying and addressing irrigation issues now will prevent dead plants later. Address Environmental Conditions – If Able Living in a neighborhood, my neighbor’s agronomic challenges often become my agronomic challenges. For example, my yard is heavily shaded. In general, most grasses grow optimally with 6-8 hours of direct sunlight. Some parts of my yard receive zero hours of direct sunlight, but unfortunately, the shade trees are on my neighbor's property. I have taken steps to improve sunlight access in the shaded areas by limbing up trees on my property yet the shade issues persist. If you have turf or a plant struggling, first consider if the growing conditions are appropriate for the particular plant. If not, what can you do to manipulate the environment to better suit the optimal growing conditions of the plant? Think back to problems you’ve had in your lawn or garden over the last couple of years. More likely than not, there’s something that can be done now to prevent the same problem from occurring this season.
they don’t get out of hand as the hustle and bustle of summer arrives. Here are a few things I’m working on to prepare my lawn and garden for the summer season. Controlling Reoccurring Pests Early Pests come in several forms. Insects, diseases, and deer to name a few, and I have them all. Last year my azaleas were annihilated by azalea lace bugs. In mild climates, these critters overwinter as eggs on the underside of azalea and rhododendron leaves only to hatch and wreak havoc on azaleas the following season. After reading more about the life cycle of azalea lace bugs I came to understand these pests are much easier to control early in the season when their population is relatively small.
Through proper identification and corrective application at the appropriate time, I expect to have much better control this season. This is true for many pests, including diseases. Understanding the life cycle of a pest, what attracts it to your turf or garden, and what causes it to flourish can all help design a plan to control pests that are annually problematic.
Figure 2. Most turfgrasses grow best with 6-8 hours of direct sunlight. Pruning problematic trees can improve light penetration to thin turf.
Figure 1. Azalea lace bugs can devastate azaleas if left untreated. After hatching in early spring, azalea lace bugs rob nutrients from azalea leaves by inserting a straw-like mouth part into the underside of the leaf. Azalea lace bug symptoms include mottling of the leaf (left) and black/brown speckling on the underside of the leaf.
What's on? GROWING July 2024 | 3
Meet the Team - Inventory
Chelsie Parrilla Inventory Analyst
Cody Zimmerhanzel Inventory Analyst
Jodi Hargrove Inventory Analyst
Kaycee Woods Inventory Analyst
How long have you been at Harrell's? 2 years One of your favorite movies/TV shows? Me Before You / Avatar: The Last Air Bender If you won the lottery today, what would you do with the money? Donate Mostly All of it. What's one unique/funny thing no one at Harrell's knows about you? I refereed intramural sports
How long have you been at Harrell's? 2 months One of your favorite movies/TV shows? Gladiator and Braveheart What job should you never be hired for? Janitorial work If you could go have lunch with anyone (alive or dead) who would it be? George Washington
How long have you been at Harrell's? 19+ years Disney or Universal (PARKS not entertainment)? Disney!! What's your dream vacation? 1 month in Europe, also traveling the world. What's one unique/funny thing no one at Harrell's knows about you? I grew up on a dairy farm and had to help milk and feed cows before school.
How long have you been at Harrell's? 2 months One of your favorite movies/TV shows? Movie-Sandlot What's your dream vacation? Italy If you could go have lunch with anyone (alive or dead) who would it be? Ronald Reagan
Krista Henderson Inventory Analyst
Laura Feaster Inventory Analyst
Stephanie Kaschub Inventory Clerk
How long have you been at Harrell's? 20 years One of your favorite movies/TV shows? Downton Abby What job should you never be hired for? Sales If you could go have lunch with anyone (alive or dead) who would it be? My Dad
How long have you been at Harrell's? 24 years Favorite dessert? Strawberries
How long have you been at Harrell's?
February was my 2 year anniversary One of your favorite movies/TV shows? One of my favorite comfort movies is The Last Unicorn. What job should you never be hired for? Customer service What's one unique/funny thing no one at Harrell's knows about you? I could do a really convincing sounding fake cry.
If you won the lottery today, what would you do with the money? Make trusts for my children and grands. Bless others in need. What's one unique/funny thing no one at Harrell's knows about you? I do not go barefoot anywhere.
4| July 2023
PREVENTION WITH VITALITY Taking the time to see your personal care physician or a specialist on a regular basis is an important key to maintaining your health and to detecting problems before they become serious. Because they play such a big role in staying healthy, Vitality offers points for the following preventative screenings:
ANNUAL DENTAL EXAM – 200 POINTS COLORECTAL SCREENING – 400 POINTS FLU SHOT – 200 POINTS MAMMOGRAM – 400 POINTS PAP SMEAR – 400 POINTS COVID BOOSTER – 250 POINTS
Each screening can be submitted for points once per policy year. To qualify for Vitality Points, you must include proof of your prevention activity. This can include: An Explanation of Benefits A medical record indicating the type and date of service provided A copy of your screening results from the doctor's office
July 2024 | 5
Summer Recipe - Red White and Blue Trifle
Making the Cream 1. In the bowl of a stand mixer fitted with the paddle attachment, combine the cream cheese and granulated sugar. 2. B eat on medium-high speed until smooth, 1 to 2 minutes. Scrape the sides and bottom of the bowl. 3. W ith the mixer on medium speed, slowly add the heavy cream and vanilla, and mix until combined. 4. S witch to the whisk attachment and whip at medium speed until soft peaks form and the mixture is easy to dollop. Building the trifle 1. P lace a single layer of cake cubes in the bottom of a large (12-14 cup) trifle dish. A pound cake works perfectly for this. 2. Top with two-thirds of the blueberries and blackberries.
3. A dd half of the whipped cream (about 2 cups), then top with two-thirds of the strawberries. 4. R epeat the cake and cream layers once more, then decorate the top with the remaining berries. 5. S erve immediately or make in advance and store in the refrigerator for up to 24 hours.
6| July 2023
Team Harrell's: What's New?
Welcome to Our New Employee-Owners!
Charles Bailey Spreader Driver - DOT Darrell Bledsoe Delivery Driver - DOT
Dwayne Harris Delivery Driver - DOT Aaron Hayes Territory Manager Dwayne Hicks Production Worker Josh Koss Territory Manager Chris Shoemaker Warehouse Worker Jed Spencer Territory Manager Dominic Vercelote Territory Manager
Joe Wenger - Welcome Back Maintenance Crew Leader Davis, Jamar Assistant Operator Zach McIntosh Assistant Operator
CJ Buck Territory Manager Al Craft - Welcome Back Delivery Driver - DOT
Cory Miller Lab Tech-I
Michael Dolan Warehouse Worker Jose Dominguez Delivery Driver - DOT Jason Fischer Territory Manager
Send Us Your Summer Photos! From now until August 10th send your summer vacation pics to mhess@harrells.com for a chance to win a $75 Amazon gift card!
What's on? GROWING
July 2024 | 7
Educational Assistance for Employees
Did you know that Harrell’s offers Educational Assistance? Here’s what you need to know if you’re considering higher education and would like to apply for this program.
• Employees must be employed for one year to be eligible. • The certification or degree must be applicable to your current job. • An application to the program must be submitted to your immediate supervisor with final approval by a member of the Senior Management Team prior to enrollment. • Applications are approved based on meeting the criteria above AND room in the budget. - Harrell’s allocates $12,500 for this program each year. • The program provides reimbursement for tuition and books as follows:
- $2,500/year for undergraduate studies. Participants must earn a passing grade of C or better. - $5,000/year for graduate studies. Participants must earn a passing grade of B or better. - 50% of expenses for certification. Participants must pass their certification exam to be eligible for reimbursement.
If you have any questions or if you’d like more information, please email ella@harrells.com.
8| July 2024
HUMAN RESOURCES
July ANNIVERSARIES
July BIRTHDAYS!
1
Bob Cross
Sales
Golf
3
Will Perez
Hauling
Chicago
3
Casey Rowell
Sales
Golf
1
Amy Dearinger
Warehouse
Columbus Ohio
4
Martuan Estell
Production
HCS
1
Jose Martinez
Warehouse
Oregon
5
Casey Cook
Production
Sylacauga
5
Zach Mitchell
Production
Sylacauga
2
Casey Cook
Production
Sylacauga
6
Kevin Lebanik
Sales
T&L
2
Haydee Lara
Marketing
Lakeland
6
Kyle Terrell
Production
Sylacauga
8
Robert Cook
Hauling
Lakeland
2
Frank Perry
Hauling
Livonia
9
Brian Fischer
IT
Lakeland
3
Deana Morrow Warehouse
Sylacauga
9
Chris Oden
Production
Sylacauga
10
Raymond Snyder
R&D
Lakeland
3
Felix Ruelas
Hauling
San Diego
11
Frank Perry
Hauling
Livonia
5
Ryan Conyers
Compliance
HCS
12
Adam Ellison
Sales
Golf
13
Jay Pock
Sales
Golf
5
Ben Harbin
Warehouse
Chattanooga
14
John Keeler
Sales
Golf
5
KP Peters
Production
HCS
15
Kornelius Gray
Production
Lakeland
15
Earl Smith
Production
Sylacauga
5
Hayley Rhoden
Compliance
Lakeland
15
Nick Swartz
Hauling
Lakeland
6
Leroy Smith
Production
Lakeland
16
George Peterson
Sales
Golf
6
Mark Stovall
Sales
Golf
17
Dave Edison
Sales
T&L
17
David Plunkett
Sales
Golf
6
Sergio Vasquez
Sales
Golf
18
Mark Fields
Hauling
Sylacauga
6
Steven Wilson
Production
HCS
18
Dwayne Harris
Hauling
Los Angeles
18
Kourtney Pock
Sales
Turf
7
AJ Danshaw
Production
HCS
21
Andrew Cain
Sales
Golf
8
Roger Ano
Hauling
San Diego
21
Christian Everitt
IT
Lakeland
21
Kim Martin
Accounting
Lakeland
9
Tanya Wilson
Accounting
Lakeland
21
Rod Moulin
Sales
T&L
10
Javi Diaz
Production
Avon Park
21
Jody Sims
Production
Sylacauga
22
Mark Baker
Warehouse
San Antonio
11
Dwayne Duncan
Hauling
Lakeland
22
Scott Carby
Hauling
San Antonio
13
Marcus Hood
Production
Sylacauga
24
Meagan Blackmon Quality Control
HCS
24
Tonya Farthing
HR
Lakeland
17
Kimberly Rouleau
Sales
Golf
25
Jonathan Penor
Warehouse
Los Angeles
17
Mike Rupp
Sales
Golf
26
Nikki Ensslin
Production
Lakeland
18
Ed Walker
Sales
Golf
26
Marc McCoy
Sales
Golf
26
Greg Nicoll
Sales
Turf
22
Jim Moon
Accounting
Lakeland
26
Brad Smith
Sales
HORT
22
Gene Waring
Warehouse
Lakeland
27
Nick Cole
Sales
Golf
27
Lee Griffin
Spreading
Charlotte
23
Johnnie Wilson
Warehouse
Lakeland
29
Rodney Crick
Warehouse
Oklahoma City
24
Dave Edison
Sales
HORT
29
Thomas Hoffer
Sales
Golf
29
Wil Stuart IV
HR
Lakeland
24
David Montes
Hauling
Homestead
30
Tom Lopez
Sales
Golf
Spring Photos
Danny Baird My grandson, Carl, swimming with the pigs.
Chuck Bramhall Nice spring day at Plymouth Country Club.
Winner
Gloria Mize My daughter, Taylor, and I at Lookout Mountain, TN during Spring Break 2024.
Pamela Farmer Vyper’s 1st birthday spring photo shoot!
Haydee Lara One of Soso’s spring pictures.
10| July 2024
Meagan Blackmon Graduation picture of my daughter from this past May.
Tyler Otero Needed the perfect backdrop. Staying safe at the beach!
Hayley Rhoden Mara super excited for strawberry picking!
Will Edwards Ready for a tubing day!
Mike Hess We bought a house!
Robbie Langley A picture that I took about 3 weeks ago while in Dauphin Island on a long weekend.
July 2024 | 11
6/21/24, 3:01 PM
Summer Crossword Puzzle - Crossword Labs
Summer Crossword Puzzle
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
Across 1. Deep sea, fly, trolling, longline, etc. 4. Usually with a boat on a lake/ocean 8. One of the best ways to cool off 10. Exercise your green thumb 11. "Laying out" 13. Lots of cart traffic 14. Plenty of s'mores 15. School's out, time away with family
Down
2. Beach activity 3. This season 5. Sleeping in the great outdoors 6. What makes it hot 7. Better bring your sunscreen and umbrella for the day 9. Usually with hotdogs and hamburgers 12. Through mountains and trails
Answer Key
What's on? GROWING
12| July 2024
Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12Made with FlippingBook - Online Brochure Maker