Lifetime Brands Q3 net income $4.2M vs loss; raises FY 2023 guidance

LIFETIME BRANDS, INC

2023-Q3 EPS reported -$0.52 revenue$483,540,000

Q3 net sales $191.7M (+2.7% YoY); net income $4.2M ($0.20 diluted EPS) vs loss of $(6.4M) ($(0.30)).
Adjusted net income $7.7M ($0.36 diluted EPS), up from $6.2M ($0.29) in prior year.
FY 2023 guidance raised: net sales $670-690M, adjusted EBITDA $52-55M, adjusted EPS $0.51-0.56.
Launched Term Loan B amendment extending maturity to Aug 2027; closing expected Q4 2023.
Declared regular quarterly dividend; liquidity $198.8M at Sept 30.

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 full year ending December 31, 2023 results: revenue $670 to $690 million, net income $(7.2) to $(6.0) million, EPS $(0.33) to $(0.28) per share. Guidance raised.

Period: the full year ending December 31, 2023
Revenue: $670 to $690 million
Net income: $(7.2) to $(6.0) million
EPS: $(0.33) to $(0.28) per share
Guidance: raised
Result: guidance update

Exact text from the filing

we are raising the low end of our full year 2023 guidance. We now expect net sales in the range of $670 to $690 million and adjusted EBITDA in the range of $52 to $55 million

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Earnings Releases SEC 8-K Item 2.02 confidence 0.97

LIFETIME BRANDS, INC reported the third quarter ended September 30, 2023 results: revenue $191.7 million, net income $4.2 million, EPS $0.20 per diluted share. Guidance raised.

Period: the third quarter ended September 30, 2023
Revenue: $191.7 million
Net income: $4.2 million
EPS: $0.20 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

Consolidated net sales for the three months ended September 30, 2023 were $191.7 million

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Source: SEC EDGAR

accession 0001628280-23-038052

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