Lifetime Brands Q3 net loss $0.30/sh; revenue down 17%; withdraws FY22 guidance

LIFETIME BRANDS, INC

2022-Q3 EPS reported -$0.44 revenue$520,621,000

Net loss $6.4M ($0.30 diluted loss) vs net income $12.6M ($0.57) in Q3 2021.
Revenue $186.6M, down 17.0% YoY; constant-currency decline 15.7%.
Withdrawing full-year 2022 guidance due to weak demand and inventory destocking.
Recorded $5.1M remediation charge for Puerto Rico soil contamination and $6.2M impairment on Grupo Vasconia equity.
Declared quarterly dividend $0.0425/share, payable Feb 15, 2023 to holders of record Feb 1, 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

LIFETIME BRANDS, INC reported the quarter ended September 30, 2022 results: revenue $186.6 million, net income $(6.4) million, or $(0.30) per diluted share, EPS $(0.30) per diluted share.

Period: the quarter ended September 30, 2022
Revenue: $186.6 million
Net income: $(6.4) million, or $(0.30) per diluted share
EPS: $(0.30) per diluted share
Result: reported results

Exact text from the filing

operating and financial flexibility in this uncertain environment.” Third Quarter Financial Highlights: Consolidated net sales for the three months ended September 30, 2022 were $186.6 million, representing a decrease of $38.2 million, or 17.0%, as compared to net sales of $224.8 million for the corresponding period in 2021. In constant currency, a non-GAAP financial

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Source: SEC EDGAR

accession 0001628280-22-027988

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