2023-07-06 16:13:08 ET
- Levi Strauss press release ( NYSE: LEVI ): Q2 GAAP EPS of $0.04 beats by $0.01 .
- Revenue of $1.34B (-8.8% Y/Y) in-line.
- Q2 Net Revenues Declined 9%, in Line With Guidance; Continued Strength in DTC & International.
- Operating & Adj. EBIT Margin as Expected Led by Gross Margin, Aided by Mix Shift.
- 15 Pt Inventory Improvement vs Q1, Inventory Expected Below Prior Year by Year-End
- Free Cash Flow Trends Positive.
- 2023 Guidance: Reported net revenues are now expected to grow between 1.5% to 2.5% year-over-year vs. prior expectations of 1.5% to 3%.
- Adjusted diluted EPS is now expected between $1.10 to $1.20 vs. $1.30 to $1.40 previously vs. consensus of $1.29 .
- More details will be provided during the earnings conference call.
- This outlook also assumes no significant worsening of macro-economic pressures on the consumer, inflationary pressures, supply chain disruptions, or currency impacts.
- Shares -4.78% .
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Levi Strauss GAAP EPS of $0.04 beats by $0.01, revenue of $1.34B in-line