earnings
confidence high
sentiment negative
materiality 0.75
Lifetime Brands Q2 net sales down 19% to $151.3M; posts net loss of $3.5M; guidance cut
LIFETIME BRANDS, INC
2022-Q2 EPS reported
-$0.14
revenue$334,031,000
- Q2 net sales $151.3M, down 18.9% YoY; gross margin improved to 36.5% from 35.4%.
- Loss from operations of $(0.5)M vs income $11.0M; net loss $(3.5)M ($0.16/sh) vs net income $5.8M ($0.26/sh).
- Adjusted net loss $(2.9)M ($0.14/sh) vs adjusted net income $6.1M ($0.28/sh) in prior year.
- FY2022 guidance cut: net sales $800-850M, Adjusted EBITDA $73-79M, adjusted EPS $1.00-1.19.
- Declared regular quarterly dividend (amount and record date not disclosed in release).