Columbia Sportswear Misses Q4 Estimates, Sees 'Challenging' Year Ahead
Portfolio Pulse from Erica Kollmann
Columbia Sportswear Company (NASDAQ:COLM) reported Q4 earnings and revenue below analyst expectations, with a GAAP EPS of $1.55 against an estimate of $1.96 and revenue of $1.06 billion versus an expected $1.08 billion. The company anticipates a challenging 2024, expecting lower Q1 revenue and has initiated a profit improvement program to save $125-$150 million annually by 2026. Shares dropped 5.62% in after-hours trading.
February 01, 2024 | 10:46 pm
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Columbia Sportswear reported lower than expected Q4 earnings and revenue, anticipates a challenging 2024, and has begun a profit improvement program aiming for significant annual savings by 2026. Shares fell 5.62% after-hours.
The reported earnings miss and the company's anticipation of a challenging year ahead are likely to negatively impact investor sentiment in the short term, as evidenced by the after-hours stock price decline. The initiation of a profit improvement program indicates a proactive approach to cost management, but the immediate reaction suggests short-term concerns outweigh long-term strategies.
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