ZIM - Skechers Reports Upbeat Earnings Joins Tutor Perini AppFolio Newell Brands And Other Big Stocks Moving Higher On Friday | Benzinga
U.S. stocks were higher, with the Dow Jones jumping over 150 points on Friday.
Shares of Skechers U.S.A., Inc. (NYSE:SKX) rose sharply during Friday's session after the company reported better-than-expected first-quarter FY24 earnings.
Skechers reported first-quarter FY24 sales growth of 12.5% year-on-year to $2.251 billion, beating the analyst consensus estimate of $2.204 billion. EPS of $1.33 beat the analyst consensus of $1.10, according to data from Benzinga Pro.
Skechers raised FY24 sales outlook from $8.60 billion-$8.80 billion to $8.725 billion-$8.875 billion, against an estimate of $8.781 billion. The company also raised FY24 EPS outlook from $3.65-$3.85 to $3.95-4.10 versus an estimate of $3.90.
Skechers U.S.A. shares climbed 16% to $68.20 on Friday.
Here are some other big stocks recording gains in today's session.
- Universal Logistics Holdings, Inc. (NASDAQ:ULH) shares jumped 45.2% to $47.76 after the company reported better-than-expected first-quarter financial results.
- Exponent, Inc. (NASDAQ:EXPO) shares gained 28.5% to $102.41 after the company reported better-than-expected first-quarter financial results.
- Snap Inc. (NYSE:SNAP) rose 23% to $14.02 after the company reported better-than-expected first-quarter financial results and issued second-quarter revenue guidance above estimates. Also, the company reported a year-over-year increase in quarterly daily active ...