![]() The company ended the quarter with total stockholders’ equity of $1,472.4 million. Deckers Outdoor Corporation Price, Consensus and EPS SurpriseĬash and cash equivalents stood at $695.2 million as of Jun 30, 2022, compared with $956.7 million as of Jun 30, 2021. Again, the operating margin shrunk 310 basis points to 9.2%. The company posted an operating income of $56.3 million, down from $61.8 million reported in the year-ago quarter. As a percentage of net sales, SG&A expenses decreased 60 basis points to 38.8%. SG&A expenses climbed 20% year over year to $238.4 million. We note that gross margin contracted 360 basis points to 48% during the quarter, owing to higher freight costs and impacts from unfavorable foreign currency exchange rates. Top-line growth was driven by HOKA ONE ONE and Teva brands. ![]() On a constant currency basis, net sales grew 23.5%. Net sales of this Goleta, CA-based company rose 21.8% year over year to $614.5 million and outpaced the Zacks Consensus Estimate of $575.3 million. Higher SG&A expenses and margin contraction hurt the bottom-line results. ![]() However, the reported figure decreased 2.9% from the year-ago earnings of $1.71 per share. Let’s Delve Deeperĭeckers posted quarterly earnings of $1.66 per share that comfortably surpassed the Zacks Consensus Estimate of $1.33. In the past three months, shares of Deckers have risen 5.2% against the industry’s decline of 10.2%. Shares of this Zacks Rank #3 (Hold) company gained 5.1% during the after-market trading session on Jul 28. While the top line grew year over year, the bottom line declined from the prior-year period. Strength in HOKA ONE ONE brand contributed to the company’s performance. Deckers Outdoor Corporation DECK reported better-than-expected first-quarter fiscal 2023 results.
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