8-K
filed January 25, 2023, 6:59 PM ET
ticker LEVI
CIK 0000094845
earnings
confidence high
sentiment negative
materiality 0.70
Levi Strauss Q4 adj EPS $0.34, FY rev $6.2B; guides FY23 adj EPS $1.30-$1.40
LEVI STRAUSS & CO
2022-FY EPS reported
$1.41
revenue$6,168,600,000
- Q4 reported net revenues $1.6B flat constant-currency; adjusted diluted EPS $0.34 vs $0.41 YoY.
- Full-year FY2022 net revenues $6.2B (+7% reported, +12% constant-currency); adjusted diluted EPS $1.50 vs $1.47.
- FY2023 guidance: reported net revenues up 1.5%-3%; adjusted diluted EPS $1.30-$1.40.
- CFO Harmit Singh receives $5M special retention award (RSUs and PRSUs) vesting over 3 years; role expanded to CFO and Growth Officer.
- Q4 gross margin 55.8% down 230 bps; Adjusted EBIT margin 9.0% vs 12.0% YoY.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
LEVI STRAUSS & CO reported the fiscal quarter ended November 27, 2022 results: revenue $1.6 billion, net income $151 million, EPS $0.38. Guidance initiated.
- Period
- the fiscal quarter ended November 27, 2022
- Revenue
- $1.6 billion
- Net income
- $151 million
- EPS
- $0.38
- Guidance
- initiated
- Result
- reported results
Exact text from the filing
• Reported net revenues of $1.6 billion contracted 6% compared to Q4 2021, but was flat on a constant-currency basis as strong growth in the direct-to-consumer channel offset a decline in wholesale • Gross margin was 55.8%; Adjusted gross margin was 55.8% , 230 basis points below Q4 2021 inclusive of approximately 100 basis points of adverse currency impacts, however 150 basis points above Q4 2019's pre-pandemic level • Operating margin was 8.6% ; Adjusted EBIT margin was 9.0% , compared to 12.0% in Q4 2021 • Net income was $151 million; Adjusted net income was $137 million , versus $170 million in Q4 2021 • Diluted EPS was $0.38; Adjusted diluted EPS was $0.34 , despite a 4 cent adverse currency impact, compared to $0.41 in Q4 2021
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
LEVI STRAUSS & CO reported the fiscal year ended November 27, 2022 results: revenue $6.2 billion, net income $569 million, EPS $1.41. Guidance initiated.
- Period
- the fiscal year ended November 27, 2022
- Revenue
- $6.2 billion
- Net income
- $569 million
- EPS
- $1.41
- Guidance
- initiated
- Result
- reported results
Exact text from the filing
• Reported net revenues of $6.2 billion grew 7% versus FY 2021 and 12% on a constant-currency basis • Gross margin was 57.5%; Adjusted gross margin was 57.6% , 30 basis points below FY 2021 inclusive of approximately 50 basis points of adverse currency impacts, up 380 basis points versus FY 2019 • Operating margin was 10.5%; Adjusted EBIT margin was 11.6% , compared to 12.4% in FY 2021 and 10.6% for FY 2019 • Net income was $569 million; Adjusted net income was $604 million , up from $601 million in FY 2021 • Diluted EPS was $1.41; Adjusted diluted EPS was $1.50 , despite a 12 cent adverse currency impact, and up from $1.47 in FY 2021
View on SEC.gov
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