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Jul 03, 2022
1 800 FLOWERS Q4 2022 Earnings Report
Reported a slight decrease in revenue and a net loss, impacted by inflationary cost pressures.
Key Takeaways
1-800-FLOWERS.COM, Inc. reported Q4 2022 results with a slight decrease in revenue to $485.9 million compared to $487.0 million in the prior year period. The company experienced a net loss of $22.3 million, or ($0.34) per share, compared to a net income of $13.3 million, or $0.20 per diluted share, in the prior year period. The results were impacted by inflationary cost increases in labor, shipping, commodities, and digital marketing.
Total net revenues were $485.9 million, a slight decrease compared to the prior year period.
Net loss was $22.3 million, or ($0.34) per share, a significant change from the net income in the prior year period.
Adjusted EBITDA loss was $16.8 million, compared to Adjusted EBITDA of $30.2 million in the prior year period.
Inflationary cost increases continued to pose challenges, impacting gross margins and operating expenses.
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 anticipates that its fiscal first quarter revenues will be down in a range of 3.0-to-6.0 percent, compared with the prior year period. The Company anticipates that its Adjusted EBITDA loss1 for the current fiscal first quarter will be in a range of $28.0 million-to-$33.0 million.
Positive Outlook
- Investments in business platform expected to improve margins.
- Strategic pricing programs anticipated to drive results.
- Moderation of cost inputs expected to aid profitability.
- Reduced capital expenditures are expected for the full year.
- Lower working capital needs are expected for the full year.
Challenges Ahead
- Unpredictable macro economy poses challenges.
- Cautious consumer spending behavior observed.
- Price inflation impacting consumer spending.
- Year-over-year costs for labor expected to remain high.
- Year-over-year costs for shipping expected to remain high.
Revenue & Expenses
Visualization of income flow from segment revenue to net income