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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.
Revenue by Segment
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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