LIFETIME BRANDS Reports Third Quarter Earnings for Fiscal Year 2023
November 20, 2023
🌥️Earnings Overview
LIFETIME BRANDS ($NASDAQ:LCUT) reported total revenue of USD 191.7 million for their fiscal year 2023 ending September 30, 2023, a 2.7% increase from the same period of the previous year. Net income rose 166.2% compared to the same period of the prior year, totaling USD 4.2 million.
Share Price
On Thursday, Lifetime Brands reported their earnings for the third quarter of fiscal year 2023. The stock opened at $6.1 and closed at $6.4, a 10.3% increase from its prior closing price of $5.8. This significant increase in the price of Lifetime Brands stock shows that investors are optimistic about the company’s future prospects. The impressive third quarter earnings report is reflective of the company’s commitment to investing in innovative products and customer service. The company has made significant investments in research and development in order to stay ahead of the competition and bring cutting-edge products to market.
In addition, Lifetime Brands has also invested greatly in customer service, offering customers a shopping experience that is convenient, reliable, and tailored to their needs. The company also continues to invest in marketing initiatives to build brand recognition and loyalty among its customers. Overall, the impressive third quarter earnings report from Lifetime Brands is a testament to the company’s dedication to innovation and customer service. With its continued investments in these areas, Lifetime Brands is well-positioned to maintain strong growth in the coming years. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Lifetime Brands. More…
| Total Revenues | Net Income | Net Margin |
| 690.58 | -7.85 | -1.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Lifetime Brands. More…
| Operations | Investing | Financing |
| 61.37 | -2.77 | -58.44 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Lifetime Brands. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 691.67 | 465.25 | 10.38 |
Key Ratios Snapshot
Some of the financial key ratios for Lifetime Brands are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -2.6% | -7.1% | 4.4% |
| FCF Margin | ROE | ROA |
| 8.5% | 8.4% | 2.7% |
Analysis
GoodWhale has conducted an analysis of LIFETIME BRANDS‘s fundamentals and our findings are as follows. After assessing the company with our Star Chart, we concluded that LIFETIME BRANDS has a strong asset base and dividend performance, medium profitability, and weak growth. Based on this information, GoodWhale has classified LIFETIME BRANDS as a “cow,” a type of company that has the track record of paying out consistent and sustainable dividends. This makes the company an attractive investment for income investors who are seeking a steady stream of cash flow. Furthermore, GoodWhale has determined that LIFETIME BRANDS has a high health score of 8/10 with regard to its cashflows and debt, giving us confidence that it is capable to pay off debt and fund future operations. More…
Peers
In the highly competitive world of home improvement and furnishings, Lifetime Brands Inc has been pitted against some tough competition. Westwing Group SE, Howden Joinery Group PLC, and Bloom Dekor Ltd are all companies that offer similar products and services. Each company has its own unique selling points, which it uses to attract customers. In order to stay ahead of the competition, Lifetime Brands Inc has to continuously come up with new and innovative products and services that appeal to its target market. It is only through continuous innovation and excellent customer service that Lifetime Brands Inc will be able to maintain its position as a leading player in this industry.
– Westwing Group SE ($OTCPK:WTWGF)
Westwing Group SE is a German home and living e-commerce company headquartered in Munich. It offers a curated selection of home décor and furnishing products. The company operates in 11 countries: Austria, Belgium, Czech Republic, France, Germany, Italy, Netherlands, Poland, Portugal, Spain, and Switzerland. As of December 31, 2020, Westwing Group SE had 2,958 employees.
– Howden Joinery Group PLC ($LSE:HWDN)
Howden Joinery Group PLC is a British company that manufactures and sells kitchens, joinery and timber products. It has a market capitalization of £2.9 billion as of March 2021 and a return on equity of 28.49%. The company operates through two segments: Joinery and Timber. The Joinery segment manufactures and sells kitchens, joinery and related products through its Howdens brand in the United Kingdom, France, Belgium, the Netherlands and Ireland. The Timber segment manufactures and sells timber products, including flooring, decking, fencing and cladding, through its Timberland brand in the United Kingdom.
– Bloom Dekor Ltd ($BSE:526225)
Bekor Ltd is a publicly traded company with a market capitalization of 123.64M as of 2022. The company has a return on equity of -27.74%. Bekor Ltd is engaged in the business of manufacturing and selling decorative products. The company’s products include wallpapers, fabrics, and other home decor items.
Summary
Investors responded positively to the third quarter financial results released by LIFETIME BRANDS for its fiscal year of 2023. Total revenue saw a 2.7% increase from the same period in the preceding year, totaling USD 191.7 million. Net income rose sharply by 166.2%, now at USD 4.2 million.
The stock price rose on this news, confirming the positive sentiment among investors. Those considering LIFETIME BRANDS as an investment should take into account their current financial position, recent market performance and future outlook before committing any funds.
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