Lifetime Brands Q4 net sales down 19% to $207M; adjusted EPS $0.22 vs $0.65 YoY

LIFETIME BRANDS, INC

Q4 net sales $207.0M, down 19.1% YoY; gross margin improved to 35.9% from 34.4%.
Q4 adjusted net income $4.7M ($0.22 diluted EPS) vs $14.4M ($0.65) in prior year.
Full-year 2022 net loss $6.2M ($0.29 loss per share) vs net income $20.8M ($0.94) in 2021.
Quarterly dividend maintained at $0.0425 per share; payable May 15, 2023.
CEO cites reduced customer orders and European weakness; expects outperform 2022 in 2023.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

LIFETIME BRANDS, INC reported the fourth quarter ended December 31, 2022 results: revenue $207.0 million, net income $3.3 million, EPS $0.15 per diluted share.

Period: the fourth quarter ended December 31, 2022
Revenue: $207.0 million
Net income: $3.3 million
EPS: $0.15 per diluted share
Result: reported results

Exact text from the filing

Consolidated net sales for the three months ended December 31, 2022, were $207.0 million, representing a decrease of $48.9 million or 19.1%, as compared to $255.9 million for the corresponding period in 2021.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

LIFETIME BRANDS, INC reported the year ended December 31, 2022 results: revenue $727.7 million, net income $(6.2) million, EPS $(0.29) per diluted share.

Period: the year ended December 31, 2022
Revenue: $727.7 million
Net income: $(6.2) million
EPS: $(0.29) per diluted share
Result: reported results

Exact text from the filing

Consolidated net sales for the year ended December 31, 2022, were $727.7 million, a decrease of $135.2 million, or 15.7%, as compared to consolidated net sales of $862.9 million for the corresponding period in 2021.

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Source: SEC EDGAR

accession 0001628280-23-007147

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