1-800-FLOWERS.COM Reports Q2 FY2023 Earnings Results on February 2, 2023.
April 9, 2023
Earnings Overview
On February 2 2023, 1-800-FLOWERS.COM ($NASDAQ:FLWS) revealed their earnings results for the second quarter of FY2023, which ended on December 31 2022. Compared to the same period in the previous year, they reported a 6.7% decrease in total revenue, amounting to USD 82.5 million. Furthermore, their net income for the quarter was USD 897.9 million, representing a 4.8% drop from the same period one year earlier.
Transcripts Simplified
1-800-FLOWERS.COM reported a solid second quarter performance, with adjusted EBITDA of $131.4 million and a 4.8% revenue decline offset by improvements in gross margins and cost management. Gross margin improvement was attributed to strategic pricing initiatives, lower year-over-year ocean freight costs, a more stable labor market, and logistics optimization efforts. Operating expenses were 28.1% of total sales as compared to 27.9% in the prior-year period and declined $10.1 million due to lower marketing costs.
Net income was $82.5 million or $1.27 per share, and adjusted net income was $82.7 million or $1.28 per share compared with the prior-year period. The Gourmet Foods & Gift Baskets segment revenues decreased 0.4% to $588.4 million compared with the prior year.
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for 1-800-flowers.com. More…
| Total Revenues | Net Income | Net Margin |
| 2.16k | 3.18 | 0.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for 1-800-flowers.com. More…
| Operations | Investing | Financing |
| 13 | -60.14 | -34.21 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for 1-800-flowers.com. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.22k | 656.47 | 8.65 |
Key Ratios Snapshot
Some of the financial key ratios for 1-800-flowers.com are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 18.4% | -26.9% | 0.5% |
| FCF Margin | ROE | ROA |
| -2.1% | 1.3% | 0.6% |
Price History
On February 2, 2023, 1-800-FLOWERS.COM reported their second quarter earnings results for fiscal year 2023. The stock opened at $12.2 and closed at $13.1, an increase of 28.4% from their previous closing price of $10.2. As the company’s earnings report was released, investors were optimistic about the company’s performance, driving the stock up to the highest close in its history. This positive news helped to fuel investor confidence in the stock and investors pushed 1-800-FLOWERS.COM to record highs.
The strong Q2 report showed that the company is on a path towards achieving further growth. Investors will be watching closely to see how the company performs in the upcoming quarters and what strategies they use to capitalize on their strong quarterly earnings results. Live Quote…
Analysis
We at GoodWhale recently carried out an analysis of 1-800-FLOWERS.COM‘s wellbeing. Our Risk Rating for the business has identified 1-800-FLOWERS.COM as a medium risk investment in terms of both financial and business aspects. We have detected two risk warnings in their income sheet and balance sheet, so if you are thinking of investing in 1-800-FLOWERS.COM, we recommend you check out our report. You can register on our website, goodwhale.com, to view the report and get more information. More…
Peers
The company has been in business for over 30 years and has built up a loyal customer base.
However, 1-800-Flowers.com Inc is not the only player in the market. There are a number of other companies that offer similar services, including BARK Inc, eBay Inc, and Global E Online Ltd. While each of these companies has its own strengths and weaknesses, 1-800-Flowers.com Inc has emerged as a leader in the industry.
– BARK Inc ($NYSE:BARK)
BARK Inc is a pet food company with a market capitalization of 283.02 million as of 2022. The company has a return on equity of -15.83%. The company produces and sells a variety of pet food products.
– eBay Inc ($NASDAQ:EBAY)
eBay Inc is an American multinational e-commerce corporation based in San Jose, California, that facilitates consumer-to-consumer and business-to-consumer sales through its website. eBay was founded by Pierre Omidyar in 1995, and became a notable success story of the dot-com bubble. Today, it is a multi-billion dollar business with operations in about 30 countries.
The company has a market capitalization of 21.25 billion as of 2022 and a return on equity of -37.67%. The company’s main business is online auctions, but it also has a significant presence in online shopping and payments. eBay is one of the largest online marketplace companies, and has been a major disruptor in the retail industry.
– Global E Online Ltd ($NASDAQ:GLBE)
Global E Online Ltd, a publicly traded company on the London Stock Exchange, has a market capitalization of 3.6 billion as of 2022. The company has a negative return on equity of 10.15%. Global E Online Ltd is a holding company that provides online gaming and e-commerce services. The company operates through three segments: Online Gaming, E-Commerce, and Other. The Online Gaming segment offers online poker, casino, sports betting, and bingo games. The E-Commerce segment provides online payment processing services. The Other segment includes advertising and marketing services.
Summary
Investors may have been expecting a better performance from 1-800-FLOWERS.COM after they reported their earnings results for the second quarter of FY2023, as total revenue decreased by 6.7% compared to the same period the previous year while net income decreased by 4.8%. Despite this, the stock price moved up on the same day, indicating that investors have yet to reassess their outlook on the company. It remains to be seen whether 1-800-FLOWERS.COM’s performance will turn around in the coming quarters or if their figures will continue to decline in the face of growing competition.
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