PVH beats Q1 guidance: EPS $2.14 vs. ~$1.90; revenue $2.158B (+5% constant currency)

PVH CORP. /DE/

2023-Q1 EPS reported $2.14 revenue$2,157,900,000

Q1 revenue $2.158B (+2% reported, +5% constant currency) exceeded guidance of relatively flat; EPS $2.14 beat ~$1.90 guidance.
Tommy Hilfiger revenue +5% (+8% constant currency); Calvin Klein flat (+3% constant currency); Heritage Brands -12%.
Gross margin 57.9% vs. 58.4% prior year; inventory up 24% due to early receipts and higher product costs.
FY 2023 guidance reaffirmed: revenue +3-4% (+2-3% constant currency), operating margin ~10%, EPS ~$10.00.
Q2 2023 outlook: low single-digit revenue growth, EPS ~$1.70 vs. $2.08 non-GAAP prior year.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PVH CORP. /DE/ reported first quarter 2023 results: revenue $2.158 billion, EPS $2.14. Guidance reaffirmed.

Period: first quarter 2023
Revenue: $2.158 billion
EPS: $2.14
Guidance: reaffirmed
Result: reported results

Exact text from the filing

PVH CORP. REPORTS STRONG 2023 FIRST QUARTER RESULTS ABOVE GUIDANCE • First quarter revenue increased 2% to $2.158 billion compared to the prior year period (increased 5% on a constant currency basis) and exceeded guidance of relatively flat to the prior year period (increase approximately 3% on a constant currency basis) • First quarter EPS of $2.14 exceeded guidance of approximately $1.90 • Full year outlook ◦ Revenue: Reaffirms projected increase of 3% to 4% (increase 2% to 3% on a constant currency basis)

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Source: SEC EDGAR

accession 0000078239-23-000062

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