Q2 2024 Xcel Brands Inc Earnings Call Transcript
Key Points
- Xcel Brands Inc (XELB) reported a 16% year-over-year increase in net licensing revenues for the second quarter.
- The company achieved an 85% improvement in non-GAAP earnings compared to the previous year.
- The C. Wonder brand exceeded sales expectations on HSN by 6% in the second quarter.
- The new brand, Tower Hill by Christie Brinkley, launched successfully on HSN, surpassing plans by 40%.
- Xcel Brands Inc (XELB) recognized a net gain of $3.8 million from the sale of the Lori Goldstein brand, reducing liabilities by $6 million.
- Total revenue for the second quarter decreased by approximately $3.8 million compared to the same period in 2023.
- The company experienced a decline in net product sales to effectively zero due to exiting wholesale operations.
- Despite improvements, adjusted EBITDA was still negative $40,000 for the current quarter.
- The Isaac Mizrahi brand's performance was down from the previous year due to changes in QVC's remote show policies.
- The Halston brand's revenue ramp-up has been delayed, impacting expected contributions for the current year.
Thank you for standing by. I'd like to welcome everyone to the XELB's Q2 2024 earnings conference call. (Operator Instructions).
Thank you. I would now like to turn the call over to Paul Kuntz. Please go ahead.
Good afternoon, everyone, and thank you for joining us. Welcome to the Xcel Brands second quarter of 2024 earnings call. We greatly appreciate your participation and interest. With us on the call today are Chairman and Chief Executive Officer, Robert D'Loren; Chief Financial Officer, Jim Haran; and EVP of Business Development and Treasury, Seth Burroughs.
By now, everyone should have had access to the earnings release for the quarter ended June 30, 2024, which went out last evening, and in addition, the company's filing with the Securities and Exchange Commission its quarterly report on Form 10-Q today. The release and the quarterly report will be available on the company's website at www.xcelbrands.com. This call is being
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
