Being the CEO of a company is not an easy job, and jumping into a company that is seeing falling revenues in almost every segment is a very difficult task. That is what is facing John Walden who just recently accepted the CEO position at our Zacks Bear of the Day,
FTD Companies ( FTD - Free Report) . This Zacks Ranked #5 (Strong Sell) operates as a floral and gifting company. The Company provides floral, gift and related products and services to consumers, retail florists, and other retail locations primarily in the U.S., Canada, the U.K., and the Republic of Ireland. Its portfolio of brands also includes Flying Flowers, Flowers Direct, and Drake Algar in the U.K. FTD Companies, Inc. is headquartered in Downers Grove, Illinois. Recent Earnings Report In mid-March, FTD announced Q4 16 earnings where they missed both the Zacks consensus earnings and revenue estimates. The company saw year over year declines in the following; Consolidated revenues -5.6%, Adjusted EBITDA -4.2%. On a segment basis FTD experienced revenue declines in most major segments (including foreign currency); Consumer segment revenues -7.5%, due to a -7.9% decrease in customer orders, Provide Commerce segment revenues -2.9%, due to a -1.5% decrease in consumer orders, and a -1.4% decrease in average order value, Florist segment revenues were flat, International segment revenues fell by -16.7% with a -1.5% decrease in consumer orders. Management’s Take On February 1, the board of directors announced that John C. Walden as President was appointed to become the new Chief Executive Officer and member of the Board of Directors effective March 1, 2017. In commenting on the Q4 16 results, the new CEO stated, “ I am only two weeks into my role with FTD but I am excited to be leading the Company at this interesting time in its long history. Although I believe the Company has recently performed below its potential, it has several assets to build upon - strong brands, reliable partners including our member florists, and financial flexibility. With an innovative and ambitious new strategy, I believe FTD can extend its leadership in the floral and gifting industry and restore growth. I look forward to undertaking this challenge with the FTD team.” Price and Earnings Consensus Graph As you can see in the price and earnings consensus graph below, the company’s stock price and future earnings estimates have been declining as of late.