Lifetime Brands cuts FY24 adjusted EPS view to 51c-60c from 69c-78c

Consensus 71c. Cuts FY24 revenue view to $680M-$700M from $690M-$730M, consensus $693.86M. Cuts FY24 adjusted EBITDA view to $54M-$57M from $57.5M-$62.5M. Kay concluded, “The foundation of the Company is solid – supported by a strong balance sheet. It’s important to note, while we have been broad with our initiatives and strategies for growth, we maintain a prudent operational approach to our business, which demands that we hold true to our fundamentals. As operators, we are constantly thinking about our long-term trajectory, and should a potential initiative not benefit Lifetime, we will not move forward with it. To this point, we have engaged with an array of transaction opportunities that, after completion of due diligence, would not have been in the best interest of our shareholders. As we look to the end of the year, we remain excited about the opportunities in front of us and hope to be able to share more specific strategies to support future growth objectives in the near future.”