Friday, December 27, 2024
Xcel Brands, Inc. 1333 Broadway 10th Floor New York, NY 10018 United States https:/Sector(s): Consumer Cyclical Industry: Apparel Manufacturing Full Time Employees: 84 Key Executives Name Title Pay Exercised Year Born Mr. Robert W. D’Loren Chairman, Pres & CEO 1.27M N/A 1958 Mr. James F. Haran CFO, Principal Financial & Accou
Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Q3 Results. The company reported Q3 revenue and adj. EBITDA of $1.9 million and a loss of $1.0 million, respectively, both of which were largely in line with our forecast, as illustrated in Figure #1 Q3 Results. Notably, the quarter was impacted by Hurricanes, which led to canceled shows and delayed sales, resulting in roughly $500,000 of lost revenue. Importantly, we believe the company’s long term growth outlook remains favorable.
Looking past the Noise. In Q3, the company recorded a non-cash charge of $6.3 million, which is related to its equity interest in Isaac Mizrahi. The write-down anticipates that the company may not meet the minimum royalty threshold in 2025, which would result in a decrease in its ownership interest in Isaac Mizrahi from 30% to 17.5%.
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