1-800-Flowers.com For FY24 Expects Total Revenues To Decline In The Mid-Single Digits YoY; Sees Adjusted EBITDA Of $95M-$100M; And Free Cash Flow Of $60M-$65M
Portfolio Pulse from Benzinga Newsdesk
1-800-Flowers.com has provided its fiscal 2024 guidance, expecting total revenues to decline in the mid-single digits YoY due to a challenging consumer environment. However, a rebound is expected during the holiday period and into the second half of the fiscal year. The company also anticipates an improvement in gross margin and increased compensation expense. Adjusted EBITDA is projected to be between $95M-$100M, and free cash flow between $60M-$65M.
August 31, 2023 | 10:58 am
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1-800-Flowers.com expects a decline in revenues for FY24 due to a challenging consumer environment, but anticipates a rebound later in the year. Adjusted EBITDA is projected to be $95M-$100M, and free cash flow $60M-$65M.
The company's expectation of a decline in revenues for FY24 indicates a challenging business environment, which could negatively impact the stock price in the short term. However, the anticipated rebound later in the year and the projected EBITDA and free cash flow figures could provide some level of reassurance to investors.
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IMPORTANCE 80
RELEVANCE 100