Overview
PVH Q3 revenue rises 2% to $2.294 bln, slightly beating company's guidance
Adjusted EPS of $2.83 for Q3 beats analysts' expectations
Company narrows full-year revenue and EPS outlook to high end of ranges
Outlook
PVH narrows full-year revenue outlook to up low single-digits
Company expects full-year non-GAAP EPS of $10.85 to $11.00
Fourth-quarter EPS projected at $3.20 to $3.35 on a non-GAAP basis
Result Drivers
BRAND STRENGTH - Calvin Klein and Tommy Hilfiger brands drove growth in key categories, per CEO Stefan Larsson
REGIONAL PERFORMANCE - Strong digital channels in Americas and APAC, particularly China, offset challenges in Europe
COST EFFICIENCIES - SG&A efficiencies freed up over 200 basis points, contributing to EPS guidance beat
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Slight Beat* | $2.29 bln | $2.28 bln (11 Analysts) |
Q3 Adjusted EPS | Beat | $2.83 | $2.56 (12 Analysts) |
Q3 EPS | $0.09 | ||
Q3 Net Income | $4.20 mln | ||
Q3 EBIT | $180.80 mln | ||
Q3 Gross Profit | $1.29 bln | ||
Q3 Pretax Profit | $160.30 mln |
*Applies to a deviation of less than 1%; not applicable for per-share numbers.
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 6 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the apparel & accessories peer group is "buy"
Wall Street's median 12-month price target for PVH Corp is $94.00, about 10.9% above its December 2 closing price of $84.74
The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 7 three months ago
Press Release: ID:nBwb1kBY3a
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
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