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Jun 28, 2020
1 800 FLOWERS Q4 2020 Earnings Report
Reported record revenue and profit growth for its fiscal year 2020 fourth quarter.
Key Takeaways
1-800-FLOWERS.COM, Inc. reported a record 61.1% increase in total net revenues, reaching $418.0 million for the fourth quarter of fiscal year 2020. Net income was $9.8 million, or $0.15 per diluted share, while adjusted net income was $15.1 million, or $0.23 per diluted share. The company saw strong growth across all business segments, driven by the COVID-19 pandemic accelerating customer demand for its expanded product offerings.
Total net revenues increased a record 61.1% to $418.0 million compared to the prior year period.
Net Income was $9.8 million, or $0.15 per diluted share.
Adjusted Net Income was $15.1 million, or $0.23 per diluted share, compared with a net loss of $8.3 million, or ($0.13) per share, in the prior year period.
Adjusted EBITDA was $32.5 million, compared with a loss of $2.7 million in the prior year period.
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.comCorporate Revenue
CapyFin.com Forward Guidance
The Company expects to achieve total consolidated revenue growth for the first quarter in a range of 40-to-45 percent (30-to-35 percent organic growth), compared with the prior year period. The Company expects the anticipated strong revenue growth, combined with continued operating leverage and contributions from PersonalizationMall.com, will enable it to drive Adjusted EBITDA for the quarter to break-even or slightly positive, compared with a loss of $11.3 million in the prior year period.
Positive Outlook
- Strong growth momentum carried into the first two months of fiscal 2021
- Anticipated contributions from recent acquisition of PersonalizationMall.com
- Expected e-commerce revenue growth of more than 70 percent
- Continued operating leverage
- Solid contributions to revenues and profits from recently acquired PersonalizationMall.com business
Challenges Ahead
- Significant uncertainty in the overall economy related to the ongoing COVID-19 pandemic
- Higher operating costs due to COVID-19 safety precautions
- Lower wholesale orders from mass market retailers
- Capacity constraints at third-party shipping vendors
- Potential distraction of the pending national election
Revenue & Expenses
Visualization of income flow from segment revenue to net income