PVH Corp. Sees FY24 EPS $10.75-$11.00 Vs $10.48 Est.; Revenue Is Projected To Decrease 6% To 7% As Compared To 2023
Portfolio Pulse from Benzinga Newsdesk
PVH Corp. forecasts a decrease in revenue by 6% to 7% for FY24 compared to 2023, attributing part of the decline to the sale of the Heritage Brands women's intimates business and a shorter fiscal year. Despite the revenue drop, EPS is expected to increase to $10.75-$11.00 from $10.68 (non-GAAP) in 2023, factoring in a $0.10 per share negative impact from foreign currency translation. Operating margin is anticipated to remain stable at around 10.1%, with interest expense and effective tax rate also expected to stay relatively flat.
April 01, 2024 | 8:19 pm
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NEUTRAL IMPACT
PVH Corp. anticipates a revenue decline of 6-7% for FY24 but expects an EPS increase to $10.75-$11.00, despite a $0.10 negative impact from foreign currency translation.
The projected increase in EPS for PVH Corp. despite a revenue decline indicates efficiency improvements or cost control measures that could mitigate the negative revenue impact. However, the forecasted decrease in revenue and the negative impact from foreign currency translation introduce uncertainty, leading to a neutral short-term impact on the stock price. The stability in operating margin and other expenses supports the notion of operational efficiency, balancing out the potential negative effects of the revenue drop.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100