Shares of Steven Madden (SHOO) surged 6.43% in pre-market trading on Wednesday following the company's release of its third-quarter earnings report and fourth-quarter outlook. Despite facing challenges in Q3, investors appear optimistic about the footwear company's projected performance for the final quarter of the year.
Steven Madden reported Q3 adjusted earnings per share of $0.43, meeting analysts' expectations. However, revenue for the quarter came in at $667.9 million, falling short of the $693.6 million forecast by analysts. The company acknowledged that the third quarter was challenging, primarily due to the impact of new tariffs on goods imported into the United States.
Despite the mixed Q3 results, Steven Madden's stock is rallying on the strength of its Q4 guidance. The company expects Q4 adjusted earnings per share to be between $0.41 and $0.46, significantly higher than the $0.29 analysts were anticipating. Additionally, Steven Madden forecasts an impressive 27% to 30% increase in Q4 revenue. This robust outlook suggests that the company may be effectively navigating the tariff pressures and positioning itself for a strong finish to the year.
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