Skechers Stock Tumbles On Q4 Earnings: Digging Into The Details
Portfolio Pulse from Adam Eckert
Skechers U.S.A. Inc (NYSE:SKX) reported Q4 earnings with a revenue increase of 4.4% year-over-year to $1.96 billion, missing the consensus estimate of $2.03 billion. Earnings per share were 56 cents, beating estimates of 54 cents. The company sees Q1 revenue between $2.175 billion and $2.225 billion, below the consensus of $2.20 billion, and expects earnings between $1.05 and $1.10 per share, below the consensus of $1.20 per share. Full-year 2024 sales are expected to be between $8.6 billion and $8.8 billion, with earnings between $3.65 and $3.85 per share, both below consensus estimates. Shares tumbled 13.3% after hours.
February 01, 2024 | 9:39 pm
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Skechers reported Q4 earnings with slight revenue growth but missed consensus estimates. The company's 2024 outlook is also below expectations, leading to a 13.3% drop in shares after hours.
The negative reaction in Skechers' stock price is directly tied to the company's Q4 revenue miss and lower-than-expected 2024 outlook. This indicates investor disappointment and concerns over future growth, leading to a short-term negative impact on the stock.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100