PLBY Group Inc (NASDAQ:PLBY) shares are trading higher Wednesday after the company released its fourth-quarter financial results. Despite reporting better-than-expected numbers, PLBY Group CEO Ben Kohn says it could have been better.
"I'm thrilled with the quarter. It's also frustrating," Kohn said Wednesday on "Benzinga Live."
What Happened: PLBY group "left a lot of money on the table," not because of internal issues, but because of supply chain and COVID-19-related headwinds, he said.
"We're continuing to stay very focused, executing on our business plan."
The company raised full-year revenue guidance to $350 million on the back of significantly increased demand. PLBY group is establishing infrastructure and bringing in the people needed to execute on its goals, Kohn said: "(I'm) very optimistic about the future based on the strength of our brands."
Related Link: Recap: PLBY Group Q4 Earnings
What's Next: PLBY group signed 10 new deals in 2021 and is exploring other global opportunities.
"There's a ton of opportunities on a global basis," Kohn said. "The team here is looking forward to getting back on the road, meeting with our partners and working on some of the new deals we have in the pipeline."
He told Benzinga that PLBY group has two clearly defined priorities in 2022: putting systems and processes in place internally and bringing in the right people in order to establish a solid foundation for the company.
No mergers or acquisitions are planned for 2022, as the company is not actively pursuing M&A like it has in the past, but the PLBY Group team is always looking for opportunities, Kohn said.
"We will do things that are opportunistic and create shareholder value over a period of time."
See the full interview here:
PLBY Price Action: PLBY Group has traded as low as $11.02 and as high as $63.04 over a 52-week period.
The stock was up 13.82% at $16.64 Wednesday afternoon.
Photo: Rex Roof from Flickr.
