earnings
confidence high
sentiment positive
materiality 0.75
PVH beats Q1 EPS guidance, raises FY2024 EPS outlook; revenue down 10%
PVH CORP. /DE/
2024-Q1 EPS reported
$2.59
revenue$1,951,900,000
- Q1 revenue $1.952B (-10% YoY); GAAP EPS $2.59 beat guidance of ~$2.15; non-GAAP EPS $2.45.
- Full year GAAP EPS guidance raised to $11.15-$11.40 (prev. $10.75-$11.00); non-GAAP to $11.00-$11.25.
- Gross margin expanded 350 bps to 61.4%; inventory down 22% YoY.
- Q2 EPS guidance ~$2.25 vs. prior year $1.98 non-GAAP; revenue expected down 6-7%.
- Repurchased $200M in stock during Q1; expects ~$400M for full year 2024.