Lifetime Brands Inc Up 6.16% To $6.20 After Earnings Beat

Lifetime Brands Inc (LCUT) said before open Thursday that it earned $0.36 per share in quarter three 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

On the revenue line, the company reported $191.7 million, beating estimates by $6.9 million.

In the same quarter a year ago, the company earned $0.16 per share on revenue of $186.6 million.

The stock is up 6.16% to $6.20 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Lifetime Brands Inc a Bullish Sentiment Rank from InvestorsObserver.

Lifetime Brands Inc has performed a little above average during the past few months. Before the report, Lifetime Brands Inc received a Long-Term Technical Rank by InvestorsObserver of 61, putting it in the top half of stocks. The firm set a 52-week low on June 21, 2023 at $4.31 and set a 52-week high on December 6, 2022 at $10.25.

Lifetime Brands Inc is a U.S. based company that designs, sources, and sells branded kitchenware, tableware, and other products used in the home and markets its products under brands such as Farberware, KitchenAid, Cuisine de France, and others. The company markets and sells its products principally on a wholesale basis to retailers. It also markets and sells a limited selection of its products directly to consumers through its Pfaltzgraff, Mikasa, Fred, and Friends, Built NY, and Lifetime Sterling. Its products include kitchen tools, gadgets, cutlery, dinnerware, and glassware. The segments of the company are the U.S. and International. It derives a majority of the revenue from the U.S. segment which includes the domestic operations of the company's business.