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Dec 31, 2023
1 800 FLOWERS Q2 2024 Earnings Report
Reported revenues of $822.1 million and net income of $62.9 million, with gross profit margin improving to 43.3%.
Key Takeaways
1-800-FLOWERS.COM, Inc. reported a decrease in total consolidated revenues by 8.4% to $822.1 million. Net income for the quarter was $62.9 million, or $0.97 per diluted share, including a non-cash impairment charge of $19.8 million. Gross profit margin increased by 230 basis points to 43.3%.
Total consolidated revenues decreased 8.4% to $822.1 million.
E-commerce revenue declined 6.6% to $738.4 million.
Gross profit margin increased 230 basis points to 43.3%.
Net income was $62.9 million, or $0.97 per diluted share, including a non-cash impairment charge of $19.8 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.com Forward Guidance
The Company is updating its Fiscal 2024 guidance to reduce its revenue outlook for the full year, while maintaining its Adjusted EBITDA and Free Cash Flow expectations.
Positive Outlook
- Improvement in gross profit margin
- Company’s expense optimization efforts
- Maintaining Adjusted EBITDA estimate
- Maintaining Free Cash Flow expectations
- Work Smarter initiatives contributing to gross profit margin and operating margin
Challenges Ahead
- Softer than anticipated revenue improvement
- Softer topline environment
- Total revenues on a percentage basis to decline in a range of 7% to 9%, as compared with the prior year
- Adjusted EBITDA to be in a range of $95 million to $100 million
- Free Cash Flow to be in a range of $60 million to $65 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income