Lifetime Brands sees Q4 adjusted EPS 29c, consensus 33c

Reports Q4 revenue $203.1M, consensus $197.86M. Rob Kay, Lifetime’s Chief Executive Officer, commented, “We closed out 2023 with another strong quarter, delivering results that met or exceeded both internal and analyst expectations for net sales, income from operations and adjusted EBITDA. We are pleased with this outperformance, paced by sales growth we are seeing across the business, most notably in our core U.S. Kitchenware category, where we saw substantial gains in the fourth quarter. As we hone our online strategy, we are also gaining market share in the e-commerce channel across all of our product categories. We continue to view this channel as a key growth opportunity for our company. Today’s results are also a reflection of our ongoing focus on proactively managing expenses and identifying efficiencies, which has allowed us to build a more focused, agile company and translate our performance to strong bottom line growth. Throughout 2023, our team demonstrated a relentless focus on operational execution, and these results are a testament to their hard work. Aided by anticipated channel expansion providing market share growth, we are well-positioned to drive continued performance and deliver on our strategy, which will generate value in 2024.”