2023-08-01 16:10:15 ET
- Columbia Sportswear press release ( NASDAQ: COLM ): Q2 GAAP EPS of $0.14 beats by $0.13 .
- Revenue of $620.9M (+7.4% Y/Y) beats by $34.1M .
-
Full Year 2023 Financial Outlook
-
Net sales are expected to increase 2.0 to 3.5 percent (prior 3 to 6 percent) to $3.53 to $3.59 billion (prior $3.57 to $3.67 billion) from $3.46 billion in 2022.
-
Gross margin is expected to expand approximately 40 basis points (prior 60 basis points) to approximately 49.8 percent of net sales (prior 50 percent) from 49.4 percent of net sales in 2022.
-
SG&A expenses, as a percent of net sales, are expected to be 40.1 to 40.5 percent (prior 39.0 to 39.2 percent), compared to SG&A expense as a percent of net sales of 37.7 percent in 2022.
-
Operating income is expected to be $348 to $368 million (prior $413 to $432 million), resulting in operating margin of 9.8 to 10.3 percent (prior 11.6 to 11.8 percent), compared to operating margin of 11.3 percent in 2022.
-
Interest income, net is expected to be approximately $13 million.
-
Effective income tax rate is expected to be approximately 24.5 percent (unchanged).
-
Net income is expected to be $272 to $288 million (prior $322 to $336 million), resulting in diluted earnings per share of $4.40 to $4.65 (prior $5.15 to $5.40). This diluted earnings per share range is based on estimated weighted average diluted shares outstanding of 61.9 million (prior 62.4 million).
For further details see:
Columbia Sportswear GAAP EPS of $0.14 beats by $0.13, revenue of $620.9M beats by $34.1M