FitLife Brands (NASDAQ:FTLF) Announces Quarterly Earnings Results

FitLife Brands (NASDAQ:FTLF) posted its earnings results on Thursday. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.14 by $0.03, FiscalAI reports. The firm had revenue of $25.33 million for 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 Stock Performance

FTLF stock traded up $0.11 during mid-day trading on Friday, reaching $10.35. 9,560 shares of the stock traded hands, compared to its average volume of 24,107. The company has a quick ratio of 0.54, a current ratio of 1.53 and a debt-to-equity ratio of 0.88. FitLife Brands has a 52 week low of $8.67 and a 52 week high of $20.98. The business has a 50-day moving average of $11.37 and a two-hundred day moving average of $14.85. The firm has a market capitalization of $97.22 million, a PE ratio of 16.33 and a beta of -0.01.

Insider Transactions at FitLife Brands

In related news, Director Grant Robert Dawson bought 3,000 shares of FitLife Brands stock in a transaction that occurred on Friday, April 10th. The stock was acquired at an average price of $9.98 per share, for a total transaction of $29,940.00. Following the completion of the purchase, the director owned 158,000 shares in the company, valued at approximately $1,576,840. This represents a 1.94% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Matthew Lingenbrink bought 3,000 shares of FitLife Brands stock in a transaction that occurred on Friday, April 10th. The stock was bought at an average price of $9.76 per share, with a total value of $29,280.00. Following the purchase, the director owned 8,800 shares of the company’s stock, valued at $85,888. This trade represents a 51.72% increase in their position. The SEC filing for this purchase provides additional information. 61.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On FitLife Brands

Several hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its stake in shares of FitLife Brands by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 92,689 shares of the company’s stock valued at $1,508,000 after buying an additional 991 shares during the period. Stifel Financial Corp bought a new stake in shares of FitLife Brands in the fourth quarter valued at about $657,000. UBS Group AG lifted its stake in shares of FitLife Brands by 592.7% in the third quarter. UBS Group AG now owns 35,531 shares of the company’s stock valued at $707,000 after buying an additional 30,402 shares during the period. Bard Associates Inc. lifted its stake in shares of FitLife Brands by 5.3% in the fourth quarter. Bard Associates Inc. now owns 17,594 shares of the company’s stock valued at $286,000 after buying an additional 893 shares during the period. Finally, Townsend & Associates Inc bought a new stake in shares of FitLife Brands in the fourth quarter valued at about $260,000. Institutional investors own 2.32% of the company’s stock.

Wall Street Analysts Forecast Growth

FTLF has been the subject of a number of recent analyst reports. Zacks Research cut shares of FitLife Brands from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 7th. Lake Street Capital decreased their price target on shares of FitLife Brands from $21.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, April 2nd. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $21.50.

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.