PVH Corp. Sees Q1 EPS $2.15 Vs $2.59 Est.; Revenue Is Projected To Decrease ~11% As Compared To The First Quarter Of 2023
Portfolio Pulse from Benzinga Newsdesk
PVH Corp. projects a decrease in Q1 revenue by approximately 11% compared to Q1 2023, with EPS expected at $2.15, slightly above the $2.14 from Q1 2023. The revenue drop includes a 3% reduction from the sale of the Heritage Brands women's intimates business. The EPS projection accounts for a $0.05 per share negative impact from foreign currency translation. Interest expense is expected to decrease to $20 million from $22 million, and the effective tax rate is projected at 21%.
April 01, 2024 | 8:18 pm
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PVH Corp. expects a decrease in Q1 revenue by about 11% from Q1 2023, with a slight increase in EPS to $2.15 from $2.14. The revenue drop is partly due to the sale of the Heritage Brands women's intimates business, and the EPS is impacted by foreign currency translation.
The projected decrease in revenue and the slight increase in EPS for PVH Corp. indicate mixed financial health. The sale of a business unit and foreign currency impacts are specific factors affecting these projections. While the revenue decrease is significant, the stability in EPS suggests some level of resilience. Investors might view the revenue drop negatively, but the EPS stability could mitigate some concerns.
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