PVH beats Q4 and FY EPS guidance; authorizes $2B buyback

PVH CORP. /DE/

2023-FY EPS reported $10.76 revenue$9,217,700,000

Q4 revenue $2.490B (flat YoY) vs guidance of -3% decline; GAAP EPS $4.55 vs guided ~$3.48.
FY2023 revenue $9.218B (+2% YoY); GAAP EPS $10.76 beat guidance of ~$9.75.
Gross margin expanded to 60.3% from 55.9% in Q4; inventory down 21% YoY.
2024 outlook: revenue down 6-7% (incl 2% from divestiture); EPS $10.75-$11.00; op margin flat ~10.1%.
Board authorized $2B increase to share repurchase program, extended through July 2028.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

PVH CORP. /DE/ reported fourth quarter 2023 results: revenue $2.490 billion, EPS $4.55 on a GAAP basis.

Period: fourth quarter 2023
Revenue: $2.490 billion
EPS: $4.55 on a GAAP basis
Result: reported results

Exact text from the filing

GUIDANCE AND PROVIDES 2024 OUTLOOK BOARD AUTHORIZES $2 BILLION INCREASE TO STOCK REPURCHASE PROGRAM • 2023 fourth quarter and full year revenue: ◦ Fourth quarter revenue of $2.490 billion was flat as compared to the prior year period (decreased 1% on a constant currency basis) and exceeded guidance of a decrease of 3% to 4% ◦ Full year revenue increased 2% to

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Source: SEC EDGAR

accession 0000078239-24-000011

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