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Dec 27, 2020
1 800 FLOWERS Q2 2021 Earnings Report
Reported record revenue and earnings results.
Key Takeaways
1-800-FLOWERS.COM, Inc. reported record revenue and profit for its fiscal 2021 second quarter, with total net revenues increasing by 44.8% to $877.3 million and net income increasing by 53.3% to $113.7 million, driven by strong e-commerce growth.
Total net revenues increased 44.8% to $877.3 million compared to the prior year period, driven by ecommerce growth of 59.7%.
Net income for the quarter increased 53.3% to $113.7 million, or $1.71 per diluted share, compared to the prior year period.
Adjusted EBITDA increased 48.4% to $164.3 million compared to the prior year period.
The company continued to grow its customer file at a record pace, leveraging efficient digital marketing programs and the Celebrations Passport® loyalty program.
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
The Company expects to achieve total consolidated revenue growth for its third fiscal quarter, including contributions from PMall, in a range of 45-to-50 percent, compared with the prior year period. The Company anticipates achieving Adjusted EBITDA of between $4.0-and-$5.0 million compared with an Adjusted EBITDA loss of $2.4 million in the prior year period, and; an EPS loss of between $0.09-and-$0.11 compared with an EPS loss of $0.15 in the prior year period.
Positive Outlook
- Continued strong ecommerce growth momentum
- Total consolidated revenue growth for the third fiscal quarter in a range of 45-to-50 percent
- Strong revenue growth will help offset certain headwinds
- Anticipates achieving Adjusted EBITDA of between $4.0-and-$5.0 million compared with an Adjusted EBITDA loss of $2.4 million in the prior year period
- Anticipates an EPS loss of between $0.09-and-$0.11 compared with an EPS loss of $0.15 in the prior year period
Challenges Ahead
- Significant uncertainty in the overall economy related to the ongoing COVID-19 pandemic
- Sunday placement of the key Valentine’s Day holiday
- Increased year-over-year labor and transportation costs
- Operating inefficiencies related to the COVID-19 pandemic
- Company is not providing guidance for its full fiscal 2021 year at this time
Revenue & Expenses
Visualization of income flow from segment revenue to net income