Lifetime Brands, Inc. reports news about its branded consumer products business, which designs, develops and markets kitchenware, tableware, giftware and home solutions used in the home. The company sells products under owned and licensed brands including Farberware, KitchenAid, Mikasa, Pfaltzgraff, S’well, Taylor and BUILT NY, and also provides private label products to retailers worldwide.
Recurring updates cover quarterly financial results, gross margin and operating income trends, pricing actions, tariff and trade-cost effects, cost controls, distribution and supply-chain initiatives, segment performance in the U.S. and International businesses, and brand activity across kitchen tools, home solutions and tabletop categories.
Lifetime Brands, a frontrunner in home consumer products, will disclose its Q4 and FY 2022 financial results on March 9, 2023, at 7:00 a.m. ET. The company has also organized a conference call at 11:00 a.m. ET for discussions about these financial results. CEO Rob Kay and CFO Larry Winoker will lead the call, addressing investor inquiries. Participants can join via a dedicated dial-in number or a live webcast. A replay will be accessible for those unable to attend the live session. This conference call follows the company’s ongoing commitment to transparency with its investors.
Lifetime Brands, Inc. (LCUT) reported a third quarter net sales of $186.6 million, down 17% from $224.8 million year-over-year. The gross margin decreased to 36.4% from 37.0%. The company posted a net loss of $(6.4) million or $(0.30) per diluted share, compared to a net income of $12.6 million or $0.57 per diluted share in Q3 2021. Due to uncertain demand, the full year 2022 guidance has been withdrawn. A quarterly dividend of $0.0425 was declared, payable on February 15, 2023.
Lifetime Brands, Inc. (NASDAQ: LCUT) will announce its third quarter financial results on November 3, 2022, at 7:00 a.m. ET. Following the earnings release, a conference call hosted by CEO Rob Kay and CFO Larry Winoker will take place at 11:00 a.m. to discuss results and address investor inquiries. Interested parties can join the call by dialing (877) 524-8416 (U.S.) or +1 (412) 902-1028 (International). A live webcast will also be available for those who wish to listen online.
Lifetime Brands, Inc. (LCUT) reported its Q2 2022 financial results, showing consolidated net sales of $151.3 million, a decrease of 18.9% year-over-year. The company's gross margin improved to 36.5%, yet it incurred a net loss of $3.5 million, translating to $(0.16) per diluted share. For the full year 2022, revised guidance estimates net sales between $800 million and $850 million and Adjusted EBITDA between $73 million and $79 million. Despite facing inflation and supply chain disruptions, the company declared a quarterly dividend of $0.0425 per share.
Lifetime Brands, Inc. (NasdaqGS: LCUT) will announce its second-quarter financial results on August 4, 2022, at 7:00 a.m. ET. A conference call will follow at 11:00 a.m., featuring CEO Rob Kay and CFO Larry Winoker, who will discuss the results and address investor questions. Interested parties can dial in at (866) 682-6100 (U.S.) or (404) 267-0373 (International) to participate, and a live webcast will also be available. Lifetime Brands is known for its diverse range of branded consumer products for home use, including kitchenware and tableware.
Lifetime Brands, Inc. (Nasdaq: LCUT) has announced that a quarterly cash dividend of $0.0425 per share will be paid on August 15, 2022, to stockholders of record by the close of business on August 1, 2022. The decision was made during the Company’s 2022 Annual Meeting of Stockholders held on June 23, 2022, where stockholders elected several directors, ratified Ernst & Young LLP as the independent auditor for 2022, and approved the 2021 compensation of named executives. The Company also amended its Long-Term Incentive Plan.
Lifelong Brands, Inc. (LCUT) reported Q1 2022 financial results, revealing a 6.6% decline in net sales at $182.7 million compared to Q1 2021. Operating income dropped to $4.4 million, with net income of $0.4 million or $0.02 per diluted share. Despite macroeconomic challenges, the company achieved its second consecutive quarter of profitability. Looking forward, 2022 guidance predicts net sales between $904 to $924 million and adjusted EBITDA of $88 to $92 million, reflecting ongoing supply chain issues and inflationary pressures.
Lifetime Brands, Inc. (NasdaqGS: LCUT) will announce its first quarter financial results on May 5, 2022, at 7:00 a.m. ET. CEO Rob Kay and CFO Larry Winoker will host a conference call at 11:00 a.m. ET to discuss the results and answer questions from investors. The call can be accessed via dial-in numbers (877) 524-8416 for U.S. participants and (412) 902-1028 for international callers. A live webcast will also be available for those who wish to listen online. Lifetime Brands is known for its diverse range of kitchenware, tableware, and home solution products.
Lifetime Brands, Inc. (NasdaqGS: LCUT) announced a new share repurchase program allowing the purchase of up to $20 million of common stock, replacing a prior $10 million program. CEO Robert Kay highlighted this move as a reflection of the Company's strong cash generation and confidence in future growth prospects. The repurchase will occur through various methods and is not bound by an expiration date, allowing flexibility depending on market conditions. This strategy aims to enhance long-term shareholder value.
Lifetime Brands, a global designer and marketer of consumer products, reported strong financial results for 2021, with net income of $20.8 million and adjusted EBITDA of $95.1 million, reflecting a 23% increase from the previous year. Full-year net sales rose 12.2% to $862.9 million. Despite challenges such as supply chain constraints, fourth-quarter net sales increased 2.7% year-over-year. The Board declared a quarterly dividend of $0.0425 per share, payable on May 16, 2022. The company is well-positioned for continued growth in 2022.