1-800-Flowers.Com Stock Plummets On Q2 Earnings Miss, FY22 Outlook Cut

  • 1-800-Flowers.Com Inc FLWS reported second-quarter FY22 sales growth of 7.5% year-on-year, to $943.04 million, missing the analyst consensus of $976.63 million.
  • Gourmet foods & gift baskets revenue rose 9.8% Y/Y, consumer floral & gifts increased 3.2%, and BloomNet climbed 11.4%.
  • EPS of $1.34 missed the analyst consensus of $1.79.
  • The gross margin for the quarter contracted 530 basis points Y/Y to 40.1%, reflecting increased inbound and outbound shipping and labor costs.
  • The operating margin was 12.3%, and operating income for the quarter fell 21.6% to $115.7 million.
  • Adjusted EBITDA for the quarter fell 19% Y/Y to $133.1 million.
  • "The widely reported cost increases associated with these macro headwinds significantly exceeded our expectations during the quarter, impacting our margins and bottom-line results," said CEO Chris McCann.
  • The company held $271.1 million in cash and equivalents as of December 26, 2021.
  • Outlook: 1-800-Flowers sees FY22 revenue growth of 7% - 9% (prior view 10.0% - 12.0%).
  • The company expects FY22 EPS of $0.90 - $1.00 (prior view of in line with FY21), below the consensus of $1.85.
  • Price Action: FLWS shares are trading lower by 27.6% at $15.26 in premarket on the last check Thursday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceShort IdeasSmall CapMoversTrading IdeasBriefswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!