Lifetime Brands ( (LCUT) ) has released its Q4 earnings. Here is a breakdown of the information Lifetime Brands presented to its investors.
Lifetime Brands, Inc. is a global company that designs, develops, and markets a wide range of branded consumer products for the home, primarily in the kitchenware, tableware, and home solutions sectors. The company is known for its diverse portfolio of well-recognized brands and its strategic focus on e-commerce and international market expansion.
In its fourth-quarter 2024 financial report, Lifetime Brands announced a 6% year-over-year increase in sales, reaching $215 million. The company also reported a trailing twelve-month adjusted EBITDA of $55.4 million and highlighted the launch of Project Concord, aimed at turning around its international business to boost global growth. Additionally, the company declared a regular quarterly dividend, reflecting its commitment to returning value to shareholders.
Key financial metrics from the report include a gross margin expansion to 37.7% for the fourth quarter and 38.2% for the full year. The U.S. market saw a sales increase of 5.8%, while international sales rose by 4.4% in constant currency terms. The company’s net income for the fourth quarter was $8.9 million, a significant improvement from $2.7 million in the same period of the previous year. Lifetime Brands also reported an adjusted net income of $12 million for the quarter, up from $6.3 million in 2023.
Lifetime Brands is optimistic about its future, with Project Concord expected to drive growth and streamline costs in its international operations. The company is also relocating its east coast distribution facility to Maryland, which is anticipated to bring long-term cost efficiencies. With a strong balance sheet and liquidity, Lifetime Brands is well-positioned to navigate economic uncertainties and continue its growth trajectory.
Looking ahead, Lifetime Brands plans to provide detailed guidance for the full year 2025 in conjunction with its first-quarter results. The company is set to host an Investor Day later in the year to outline its long-term vision and strategic priorities, reinforcing its commitment to achieving sustainable global growth.