Lifetime Brands Beats Q4 Sales Estimates On US Kitchenware Segment Gain; Profit Dips
Portfolio Pulse from Lekha Gupta
Lifetime Brands Inc (NASDAQ:LCUT) reported a slight decline in Q4 2023 net sales by 1.9% Y/Y to $203.1 million, surpassing consensus estimates of $197.9 million. Despite a decrease in gross margin and adjusted EPS missing consensus, the company saw gains in its U.S. Kitchenware segment and declared a quarterly dividend of $0.0425 per share. CEO Rob Kay highlighted growth in e-commerce as a key opportunity.
March 12, 2024 | 1:46 pm
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Lifetime Brands reported a slight decline in Q4 sales but beat consensus estimates. The company declared a quarterly dividend and sees e-commerce as a growth opportunity.
Despite a slight decline in net sales and a miss on adjusted EPS consensus, LCUT's beat on sales estimates and positive outlook on e-commerce growth could stabilize the stock price. The declaration of a dividend also indicates financial stability, which might counterbalance the negative impact of the profit dip.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100