Lifetime Brands, Inc. to Provide Update on “Lifetime 2.0” Strategy and Long-Term Financial Targets at 2019 Investor Day
Strategy Focused on Leveraging Strong Brands, Best-in-Class Innovation and Global Scale to Drive Organic Growth in Core Categories and Entrance into High Growth Adjacent Categories and Markets
Company Targets More Than
Investor Day Presentations Begin at
“We are excited to share our progress executing against the vision for the future of Lifetime Brands,” said
Value Creation Drivers
In today’s presentations,
- A leading portfolio of strong, recognizable brands with multi-channel growth opportunities in core end markets;
- Significant opportunities in adjacent durables categories for growth above end market growth rates;
- A best-in-class innovation engine to strategically drive growth and maintain industry leadership;
- A more focused and efficient global platform with scale and enhanced operational effectiveness; and
- Strong cash flow generation to enable financial flexibility.
Five-Year Financial Objectives
In today’s presentation,
|Adjusted EBITDA||$90+ million|
|Adjusted EBITDA Margin||10%|
|Sales Growth - Organic (CAGR)||2%|
|Sales Growth - with Food Service (CAGR)||4%|
|Capital Expenditures||$6 million to 8 million|
|Cumulative Cash Flow||$200 million to 215 million|
|Leverage Ratio||Less than 3x|
Today’s Investor Day presentation will begin at
For those who cannot listen to the live broadcast, a replay of the webcast will be available.
Non-GAAP Financial Measures
This release contains non-GAAP financial measures, including adjusted EBITDA, adjusted EBITDA margin, sales-growth-organic, sales growth-with food service, adjusted operating income, and cumulative cash flow. A non-GAAP financial measure is a numerical measure of a company's historical or future financial performance, financial position or cash flows that excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with GAAP in the statements of income, balance sheets, or statements of cash flows of a company; or, includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented. The company is not providing a quantitative reconciliation with respect to the forward-looking non-GAAP financial measures presented in this press release in reliance on the “unreasonable efforts” exception set forth in
In this press release, the use of the words “believe,” "could," "expect," "may," "positioned," "project," "projected," "should," "will," "would" or similar expressions is intended to identify forward-looking statements. Such statements include all statements regarding the growth and profitability of the Company, our financial outlook, our initiatives to create value, our ability to generate cash flow, our efforts to mitigate geopolitical factors and tariffs, our current and projected financial and operating performance, results, and profitability and all guidance related thereto, including forecasted exchange rates and effective tax rates, as well as our future plans and intentions regarding the Company and its consolidated subsidiaries. Such statements represent the Company’s current judgments, estimates, and assumptions about possible future events. The Company believes these judgments, estimates, and assumptions are reasonable, but these statements are not guarantees of any events or financial or operational results, and actual results may differ materially due to a variety of important factors. Such factors might include, among others, the Company’s ability to comply with the requirements of its credit agreements; the availability of funding under such credit agreements; the Company’s ability to maintain adequate liquidity and financing sources and an appropriate level of debt; the possibility of impairments to the Company’s goodwill; changes in U.S. or foreign trade or tax law and policy; the impact of tariffs on imported goods and materials; changes in general economic conditions which could affect customer payment practices or consumer spending; the impact of changes in general economic conditions on the Company’s customers; customer ordering behavior; the performance of our newer products; the impact of our SKU rationalization initiative, expenses and other challenges relating to the integration of the Filament Brands business and future acquisitions; changes in demand for the Company’s products; changes in the Company’s management team; the significant influence of the Company’s largest stockholder; fluctuations in foreign exchange rates; changes in U.S. trade policy or the trade policies of nations in which we or our suppliers do business; uncertainty regarding the U.K.’s exit from the
The Company’s corporate website is www.lifetimebrands.com.
Source: Lifetime Brands, Inc.