Friday, June 19, 2020
1-800-Flowers.com (FLWS)
The Guidance Was Raised To What?
1-800-FLOWERS.COM, Inc. is the leading provider of gourmet and floral gifts for all occasions. For nearly 40 years, 1-800-FLOWERS® has been helping deliver smiles for customers with gifts for every occasion, including fresh flowers, premium, gift-quality fruits, and other gourmet items from Harry & David®, popcorn and specialty treats from The Popcorn Factory®; cookies and baked gifts from Cheryl’s®; premium chocolates and confections from Fannie May®; gift baskets and towers from 1-800-Baskets.com®; premium English muffins and other breakfast treats from Wolferman’s; carved fresh fruit arrangements from FruitBouquets.com; and top quality steaks and chops from Stock Yards®. The Company’s BloomNet® international floral wire service provides a broad range of quality products and value-added services designed to help professional florists grow their businesses profitably.
Michael Kupinski, Director of Research, Noble Capital Markets, Inc.
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Extraordinary upward revised full year 2020 guidance.Due to very strong ecommerce demand, the company raised fiscal full year 2020 revenue guidance to increase in a range of 16% to 18%, up from 8% to 9%. This implies Q4 revenue growth of an extraordinary 50%. Adjusted EBITDA guidance was raised from a range of 13% to 15% to a range of a 50% to 55%. This implies adjusted EBITDA of a positive roughly $27 million versus an historical seasonal loss. Earnings per share is expected to increase 75% to 85% and free cash flow was raised from a range of $45 million to $50 million to a range of $75 million to $85 million.
Not just about Mom. The company was able to increase Mother’s Day sales by offering variable shipping days well in advance of Mother’s Day. This allowed support strapped florists the ability to fill orders that would otherwise be delivered….
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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
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