FitLife Brands (NASDAQ:FTLF) Releases Earnings Results, Beats Estimates By $0.03 EPS

FitLife Brands (NASDAQ:FTLF) issued its quarterly earnings data on Thursday. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.14 by $0.03, FiscalAI reports. The company had revenue of $25.33 million during the quarter. FitLife Brands had a net margin of 7.77% and a return on equity of 19.75%.

Here are the key takeaways from FitLife Brands’ conference call:

• Revenue rose 59% year over year to $25.3 million, driven primarily by the Irwin acquisition, while contribution increased 42% and adjusted EBITDA was $3.3 million.
• Gross margin declined to 37.6% from 43.1% a year ago because Irwin carries a lower margin profile, though management said margins improved sequentially and should continue to rise as supply chain issues are addressed.
• Legacy FitLife remains under pressure, with revenue down 22% year over year due to weaker MRC online sales and lower GNC wholesale revenue, partially offsetting gains from Irwin.
• Irwin’s Amazon business continues to scale, reaching about $800,000 in March, roughly $900,000 in April, and showing continued sequential improvement, with more growth expected as out-of-stocks are resolved and additional SKUs go live.
• The company is using cash to delever, paying down $1.5 million of term debt and $1.4 million of revolver debt in the quarter, and it also announced a new MusclePharm rollout in several hundred Kroger stores beginning in June.

FitLife Brands Price Performance

Shares of FTLF stock traded up $0.71 during trading on Thursday, hitting $10.24. The company had a trading volume of 57,636 shares, compared to its average volume of 32,138. The company has a quick ratio of 0.54, a current ratio of 1.53 and a debt-to-equity ratio of 0.88. The stock’s 50-day moving average is $11.37 and its two-hundred day moving average is $14.85. The stock has a market capitalization of $96.15 million, a price-to-earnings ratio of 16.15 and a beta of -0.01. FitLife Brands has a 52 week low of $8.67 and a 52 week high of $20.98.

Analyst Ratings Changes

A number of research analysts have recently commented on FTLF shares. Zacks Research lowered shares of FitLife Brands from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 7th. Lake Street Capital dropped their price objective on FitLife Brands from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, April 2nd. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $21.50.

Insider Activity at FitLife Brands

In related news, Director Matthew Lingenbrink acquired 3,000 shares of the firm’s stock in a transaction that occurred on Friday, April 10th. The shares were bought at an average cost of $9.76 per share, for a total transaction of $29,280.00. Following the completion of the transaction, the director owned 8,800 shares in the company, valued at approximately $85,888. This trade represents a 51.72% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Grant Robert Dawson acquired 3,000 shares of the firm’s stock in a transaction that occurred on Friday, April 10th. The stock was bought at an average price of $9.98 per share, for a total transaction of $29,940.00. Following the completion of the transaction, the director owned 158,000 shares of the company’s stock, valued at $1,576,840. The trade was a 1.94% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 61.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of FitLife Brands in the second quarter worth approximately $28,000. Bank of America Corp DE grew its position in FitLife Brands by 6,524.2% during the second quarter. Bank of America Corp DE now owns 2,186 shares of the company’s stock valued at $28,000 after acquiring an additional 2,153 shares during the last quarter. Steward Partners Investment Advisory LLC grew its position in FitLife Brands by 107.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,478 shares of the company’s stock valued at $57,000 after acquiring an additional 1,803 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in FitLife Brands during the fourth quarter valued at approximately $61,000. Finally, JPMorgan Chase & Co. grew its position in FitLife Brands by 107.0% during the third quarter. JPMorgan Chase & Co. now owns 3,819 shares of the company’s stock valued at $76,000 after acquiring an additional 1,974 shares during the last quarter. 2.32% of the stock is currently owned by institutional investors.

FitLife Brands Company Profile

FitLife Brands, Inc provides nutritional supplements for health-conscious consumers in the United States and internationally. The company provides weight loss, sports nutrition, and general health products; sports nutrition products; weight loss and sports nutrition products; sports nutrition and general wellness formulations with an emphasis on natural, vegan, and organic ingredients; and male health and weight loss products, as well as other diet, health, and sports nutrition supplements and related products; and value-oriented sports nutrition and weight loss products.