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Oct 02, 2022
1 800 FLOWERS Q1 2023 Earnings Report
Reported slightly better than expected first quarter results and issued fiscal year 2023 full year guidance.
Key Takeaways
1-800-FLOWERS.COM, Inc. reported first quarter results slightly better than expectations, with total consolidated revenues decreasing 1.9% to $303.6 million compared to the prior year. The company anticipates revenues to decline slightly in fiscal 2023 and expects to generate more than $75 million in Free Cash Flow.
Total consolidated revenues decreased 1.9% to $303.6 million.
Gross profit margin was 33.4%, compared to 40.6% in the prior year period.
Net loss for the quarter was $33.7 million, or $(0.52) per share.
Adjusted EBITDA loss for the quarter was $28.0 million.
1 800 FLOWERS
1 800 FLOWERS
1 800 FLOWERS Revenue by Segment
Revenue by Segment
Gourmet Foods & Gifts Revenue
CapyFin.comConsumer Floral & Gifts Revenue
CapyFin.comBloomNet Revenue
CapyFin.comCorporate Revenue
CapyFin.com Forward Guidance
Company anticipates that revenues will decline slightly in Fiscal 2023 on lower consumer confidence and cautious spending behavior. Adjusted EBITDA to be in a range of $75 million to $80 million and Free Cash Flow to exceed $75 million.
Positive Outlook
- Strategic pricing programs
- Moderation of cost inputs
- Gradually improve gross margins
- Gradually improve bottom-line results
- Restoration of 100% bonus payout in Fiscal 2023
Challenges Ahead
- Revenues will decline in the mid-single digit range
- Lower consumer confidence
- Cautious spending behavior
- Highly unpredictable nature of the current macro economy
- Challenging macroeconomic backdrop
Revenue & Expenses
Visualization of income flow from segment revenue to net income