1-800-Flowers.com For FY24 Expects Total Revenues To Decline In The Mid-Single Digits YoY; Sees Adjusted EBITDA Of $95M-$100M; And Free Cash Flow Of $60M-$65M

Author: Benzinga Newsdesk | August 31, 2023 06:58am

Company Guidance

For fiscal 2024, the Company expects revenues to remain pressured by a challenging consumer environment early in the year, but then rebound during the holiday period and into the second half of the fiscal year. The Company also expects continued improvement in gross margin. Additionally, the guidance assumes increased compensation expense, including the restoration of 100 percent bonus payout, compared with a partial payout in fiscal 2023.

As a result, the Company expects Fiscal 2024:

• total revenues on a percentage basis to decline in the mid-single digits, as compared with the prior year;
• adjusted EBITDA1 to be in a range of $95 million to $100 million; and
• Free Cash Flow1 to be in a range of $60 million to $65 million.

Posted In: FLWS