2023-04-27 16:09:48 ET
- Skechers press release ( NYSE: SKX ): Q1 GAAP EPS of $1.02 beats by $0.41 .
- Revenue of $2B (+9.9% Y/Y) beats by $130M .
- Gross margin was 48.9%, an increase of 360 basis points.
- Inventory at Q1 end was $1.50 billion, a decrease of $315.8 million or 17.4% from December 31, 2022.
- For the second quarter of 2023, the Company believes it will achieve sales between $1.85 billion and $1.90 billion. The consensus Q2 2023 revenue estimate is $1.98B.
- For the second quarter of 2023, the Company believes it will achieve diluted earnings per share of between $0.40 and $0.50. The consensus Q2 2023 EPS estimate is $0.74.
- Company believes that for the fiscal year 2023, it will achieve sales between $7.9 billion and $8.1 billion. SKX had guided FY 2023 sales of $7.75B to $8B. The consensus revenue estimate is $8B.
- Company believes that for the fiscal year 2023, it will achieve diluted earnings per share of between $3.00 and $3.20. SKX had guided FY 2023 EPS of $2.80 to $3.00. The consensus EPS estimate is $2.99.
For further details see:
Skechers Q1 results beat estimates, co raises FY 2023 guidance