Deckers Tops Q3 Estimates, Issues FY24 Guidance, Announces A CEO Succession Plan, Shares Gain After-Hours
Portfolio Pulse from Ryan Gustafson
Deckers Outdoor Corp (NYSE:DECK) reported Q3 earnings of $15.11 per share, surpassing estimates of $11.48, with a 44% increase from the previous year. Revenue reached $1.560 billion, beating estimates of $1.448 billion, a 16% growth year-over-year. HOKA brand sales rose by 21.9% to $429.3 million. The company forecasts FY24 adjusted earnings between $26.25 and $26.50 per share, with revenue around $4.15 billion. Gross margin is expected to be approximately 54.5%. CEO Dave Powers announced retirement effective Aug. 1, with Stefano Caroti set to succeed. DECK shares rose 4.87% to $810.50 in after-hours trading.
February 01, 2024 | 10:21 pm
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Deckers Outdoor Corp reported strong Q3 earnings and revenue, surpassing estimates and showing significant growth. The company provided positive FY24 guidance and announced a CEO succession plan. Shares rose 4.87% in after-hours trading.
Deckers' strong Q3 performance and optimistic FY24 guidance indicate a positive outlook for the company. The announcement of a CEO succession plan is also a significant development. These factors, combined with the after-hours stock price increase, suggest a positive short-term impact on DECK's stock.
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IMPORTANCE 90
RELEVANCE 100