Xcel Brands Q2 revenue falls on brand divestiture
Xcel Brands Q2 revenue falls on brand divestiture
Overview
US media and consumer products firm's Q2 revenue fell 14% yr/yr on brand divestiture
Q2 net loss narrowed to $2.5 mln from $4.0 mln a year earlier
Adjusted EBITDA improved from Q1, driven by new brand launches and lower expenses
Outlook
Company did not provide specific guidance for future quarters or the full year
Result Drivers
BRAND DIVESTITURE - Co said revenue decline was mainly due to sale of Judith Ripka brand
NEW BRAND LAUNCHES - Co said Adjusted EBITDA improvement was driven by product launch of two influencer-led brands, per CEO Robert W. DLoren
LOWER OPERATING EXPENSES - Co said further reductions in operating expenses contributed to improved Adjusted EBITDA
Company press release: ID:nGNX4L7lCn
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Miss | $1.12 mln | $1.80 mln (1 Analyst) |
Q2 Adjusted Loss Per Share | Beat | $0.21 | $0.38 (1 Analyst) |
Q2 Loss Per Share |
| $0.40 |
|
Q2 Net Loss Attributable to Xcel Brands, Inc. Stockholders |
| $2.48 mln |
|
Q2 Operating Income |
| -$1.59 mln |
|
Q2 Pretax Loss |
| $2.46 mln |
|
Analyst Coverage
The one available analyst rating on the shares is "buy"
The average consensus recommendation for the entertainment production peer group is "buy"
Wall Street's median 12-month price target for Xcel Brands Inc is $4.00, about 292.2% above its August 12 closing price of $1.02
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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)