Positive Guidance and Strong Q1 Results Give 1-800-Flowers a Boost
Smelling like roses despite the COVID-19 pandemic mauling the U.S. economy in March, 1-800-Flowers.com (NASDAQ: FLWS) reported year-over-year double-digit net revenue gains for the third quarter of 2020 in the earnings report it issued today. Both earnings per share (EPS) and revenue came in above analyst estimates, while the company also issued upbeat guidance for next quarter and the full fiscal year.
Thomson Reuters polling indicated analysts predicted EPS at a $0.17 per-share loss, while expecting $266.58 million in net revenue. Instead, 1-800-Flowers delivered $0.14 per-share losses for the quarter, $0.03 less than forecast. Net revenue rose by 12.2% year over year, amounting to $278.8 million and beating the analyst figure by approximately 4.6%. The company also posted an adjusted EBITDA loss of $2.4 million, an improvement over fiscal Q3 2019's $4.4 million loss.
Image source: 1-800-Flowers.
Source Fool.com
