Lifetime Brands Q1 net sales $142.2M (-2.2% YoY); gross margin expands to 40.5%; provides FY24 guidance

LIFETIME BRANDS, INC

2024-Q1 EPS reported -$0.29 revenue$142,242,000

Consolidated net sales $142.2M, down 2.2% YoY; gross margin 40.5% vs 37.0% in Q1 2023.
Income from operations $1.8M vs loss of $(1.8)M; adjusted income from operations $5.7M vs $3.4M.
Net loss $(6.3)M ($0.29/diluted share) vs $(8.8)M ($0.41) in prior year; adjusted net loss $(3.2)M.
Adjusted EBITDA $59.5M for trailing twelve months ended March 31, 2024.
FY2024 guidance: net sales $690-730M, adjusted EBITDA $57.5-62.5M, adjusted EPS $0.69-0.78.

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 first quarter ended March 31, 2024 results: revenue $142.2 million, net income $(6.3) million, or $(0.29) per diluted share, EPS $(0.29) per diluted share.

Period: first quarter ended March 31, 2024
Revenue: $142.2 million
Net income: $(6.3) million, or $(0.29) per diluted share
EPS: $(0.29) per diluted share
Result: reported results

Exact text from the filing

Consolidated net sales for the three months ended March 31, 2024 were $142.2 million, representing a decrease of $3.2 million, or 2.2%, as compared to net sales of $145.4 million for the corresponding period in 2023.

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Source: SEC EDGAR

accession 0001628280-24-021972

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