Friday, April 30, 2021
1-800-Flowers.com (FLWS)
Revenue Growth Expected On Top Of The Pandemic Lift
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.
Refer to the full report for the price target, fundamental analysis, and rating.
Fiscal Q3 exceeds expectations. Q3 revenues surged 70.1% to $474.2 million, well above our $404.8 million estimate. Adjusted EBITDA beat our expectations, $15.4 million versus $4.1 million estimate. The company benefited from solid growth in PersonalizationMall.com and 83% growth in Harry & David.
Stronger than expected guidance for Q4. Management guided revenues to a range of 10% to 15% growth, with adjusted EBITDA of $25 million to $30 million. This was stronger than our revenue growth estimate of 6.7% and adjusted EBITDA of $18.2 million. The favorable revenue momentum reflects contributions from its recent acquisition PersonalizationMall.com, as well as growth in its Floral division …
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.