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Lifetime Brands, Inc. - LCUT STOCK NEWS

Welcome to our dedicated page for Lifetime Brands news (Ticker: LCUT), a resource for investors and traders seeking the latest updates and insights on Lifetime Brands stock.

Lifetime Brands, Inc. (Nasdaq: LCUT) stands as a premier global designer, developer, and marketer of an extensive range of branded consumer products for the home. The company excels in offering superior kitchenware, tabletop items, and other home products through well-respected brand names such as Farberware®, KitchenAid®, Mikasa®, and many more.

Founded in the U.S., Lifetime Brands primarily sells its products on a wholesale basis to leading retailers worldwide. The company also sells directly to consumers via certain brands, including Pfaltzgraff and Fred, through its e-commerce platforms. Its product portfolio spans kitchen tools, gadgets, cutlery, dinnerware, and glassware, with the kitchenware segment generating the majority of its revenue.

The company has been making significant strides in recent times, reflecting its dedication to growth and innovation despite macroeconomic challenges. Notably, Lifetime Brands declared a quarterly cash dividend and successfully restructured its European operations, aiming for enhanced profitability and growth. Additionally, the company extended its Term Loan B facility to August 2027, thereby solidifying its financial footing.

Lifetime Brands reported strong quarterly performance with net sales of $142.2 million for the first quarter of 2024 despite economic headwinds. This included a notable gross margin of 40.5%, driven by disciplined expense management and a favorable product mix. The company's robust portfolio of leading brands and its multi-channel growth strategy position it well for sustained success.

For the future, Lifetime Brands remains focused on advancing its strategic growth initiatives, leveraging its innovation engine, and expanding its market share in both physical retail and e-commerce channels. The company's healthy balance sheet and resilient business model are set to unlock new opportunities and deliver value to shareholders.

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Lifetime Brands announced the results of its 2024 Annual Meeting of Stockholders held on June 20, 2024. Stockholders elected nine directors including Jeffrey Siegel and Robert B. Kay. Ernst & Young LLP was ratified as the independent auditor for 2024. Stockholders approved the 2023 executive compensation and amended the 2000 Long-Term Incentive Plan. Additionally, a cash dividend of $0.0425 per share was declared, payable on August 15, 2024, to stockholders of record on August 1, 2024.

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Lifetime Brands, Inc. reported its Q1 2024 financial results with an income and EBITDA growth, highlighting its performance. Despite a decrease in consolidated net sales, the company managed to expand margins, increase profitability, and strengthen its business. The CEO expressed confidence in the company's ability to compete and create value for shareholders, backed by solid performance and strategic growth initiatives. The company provided financial guidance for the full year 2024, aiming for net sales of $690 to $730 million and adjusted EBITDA of $57.5 to $62.5 million.

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Lifetime Brands, Inc. (LCUT) will report its first quarter financial results on May 9, 2024. The company, a global designer and marketer of consumer products for the home, will hold a conference call after the release. Lifetime Brands offers a diverse range of kitchenware, tableware, giftware, and home solutions under various popular brands and also supplies private label products to retailers.

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Lifetime Brands, Inc. (LCUT) reports strong financial results for Q4 and full year 2023, with net sales meeting or exceeding expectations. The company highlights growth in the U.S. Kitchenware category and the e-commerce channel. Despite a slight decrease in net sales, the company shows improvements in gross margin, income from operations, and adjusted EBITDA. A quarterly dividend of $0.0425 per share has been declared. Non-GAAP financial measures are utilized to provide a more accurate evaluation of the company's performance.
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Lifetime Brands, Inc. (LCUT) will release its Q4 and full year 2023 financial results on March 12, 2024. The company offers various branded kitchenware and home products under popular brands. CEO and CFO will discuss the results in a conference call.
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Lifetime Brands, Inc. (Nasdaq: LCUT) announced the completion of the Term Loan B Amendment and Extension. The Term Loan B in the principal amount of $198.7 million due February 2025 has been amended and extended to $150.0 million, maturing in August 2027. The Company borrowed on its asset-based loan facility to pay down $48.7 million of principal amount of the Term Loan B plus approximately $9 million to pay the original issue discount and related fees and expenses.
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Lifetime Brands, Inc. (LCUT) Raises Full Year 2023 Guidance, Declares Regular Quarterly Dividend, and Reports Strong Third Quarter Performance
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Lifetime Brands, Inc. (NasdaqGS: LCUT) will release its Q3 financial results on November 9, 2023. The company is a leading global provider of branded kitchenware, tableware, and other home products. CEO Rob Kay and CFO Larry Winoker will discuss the results in a conference call at 11:00 a.m. ET.
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Lifetime Brands, Inc. plans to launch an Amendment & Extension of its existing Term Loan B facility and provides preliminary estimated third quarter fiscal results. Net sales for Q3 2023 are estimated to be $191.7 million with a gross margin of $71.0 million. Adjusted EBITDA is estimated to be $19.7 million for the quarter and $55.5 million for the trailing twelve months. The Company's liquidity is estimated to be $198.8 million at the end of Q3 2023.
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Lifetime Brands, Inc. (LCUT) reports Q2 2023 financial results, with net sales of $146.4 million, a 3.2% decrease from 2022. Gross margin was 38.2%, income from operations was $4.4 million, and net loss was $(6.5) million. The company reaffirms full-year 2023 guidance for net sales, income from operations, and adjusted EBITDA. A quarterly dividend of $0.0425 per share was declared.
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FAQ

What does Lifetime Brands, Inc. specialize in?

Lifetime Brands, Inc. specializes in designing, sourcing, and selling a wide range of branded kitchenware, tabletop, and other home products.

Which brands are marketed by Lifetime Brands?

Lifetime Brands markets well-known brands such as Farberware®, KitchenAid®, Mikasa®, Pfaltzgraff®, Fred®, and many more.

How does Lifetime Brands primarily sell its products?

Lifetime Brands primarily sells its products on a wholesale basis to leading retailers worldwide and directly to consumers through certain e-commerce platforms.

What recent financial achievements has Lifetime Brands reported?

Lifetime Brands reported net sales of $142.2 million and a gross margin of 40.5% for Q1 2024, reflecting strong cost management and a favorable product mix.

How has Lifetime Brands strengthened its financial position?

Lifetime Brands extended its Term Loan B facility to 2027 and reported strong liquidity, including cash and available borrowings.

What strategic initiatives is Lifetime Brands focusing on?

Lifetime Brands is focusing on advancing strategic growth initiatives, expanding its market share in both retail and e-commerce, and leveraging its innovation engine.

What is the company's market segmentation?

Lifetime Brands operates in two segments: the U.S. and International, with the majority of revenue derived from the U.S. segment.

What financial guidance has Lifetime Brands provided for 2024?

Lifetime Brands has provided guidance for full-year 2024, expecting significant revenue from net sales and adjusted EBITDA increases.

What challenges does Lifetime Brands face?

Lifetime Brands faces challenges such as economic headwinds, inventory rationalization efforts, and fluctuating foreign exchange rates.

Where can I find more information about Lifetime Brands?

For more information, you can visit the company's corporate website at www.lifetimebrands.com.

Lifetime Brands, Inc.

Nasdaq:LCUT

LCUT Rankings

LCUT Stock Data

181.22M
22.07M
15.13%
71.06%
0.24%
Home Furnishing Merchant Wholesalers
Wholesale Trade
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United States of America
GARDEN CITY