Lifetime Brands reports Q1 adjusted EPS (15c), consensus (14c)

Reports Q1 revenue $142.2M, consensus $144.94M. CEO Rob Kay commented, “We are pleased with our performance in Q1 as we delivered results that were both in line with our expectations and above the broader market. While shipments for the quarter were under pressure as a result of both economic headwinds and inventory rationalization efforts among select retailers, our sell-through rates remained strong, a testament to the strength of our product offerings across channels. Further, we were able to expand our margins and deliver increased profitability as a result of favorable product mix, stability in our supply chain, and our continued disciplined expense management. The steps we have taken to strengthen our business have positioned us well to compete and gain share notwithstanding market conditions. Our outlook reflects the opportunities already in our pipeline for the year ahead, and we are confident in our ability to continue driving operational excellence as we advance our strategic growth initiatives. Further, our high liquidity levels ensure we have the financial flexibility to invest in our business. As we look ahead to the full year 2024, we are confident the Company is well-positioned to continue delivering solid performance and creating value for our shareholders as we continue execute on our growth strategy.”