Tommy Hilfiger, Calvin Klein Parent PVH Corp Reports Q4 Results: Stock Falls On Soft Q1 Guidance
Portfolio Pulse from Erica Kollmann
PVH Corp. (NYSE:PVH) reported Q4 earnings of $3.72 per share, surpassing estimates and marking a 56.3% increase from the previous year. Sales reached $2.49 billion, also beating estimates. Despite strong Q4 performance and fiscal 2023, PVH's stock fell due to soft Q1 guidance, projecting earnings of $2.15 per share against an estimate of $2.59, and an 11% year-over-year revenue decrease. The company anticipates fiscal year 2024 earnings between $10.75 and $11.00 per share, with a 6-7% revenue decrease.
April 01, 2024 | 8:46 pm
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PVH Corp. reported strong Q4 results but provided soft guidance for Q1, leading to a 17.9% drop in after-hours trading.
PVH Corp.'s stock price is likely to go down in the short term due to the soft guidance for Q1, despite the strong Q4 performance. The significant after-hours drop indicates investor concern over the projected 11% revenue decrease and lower-than-expected Q1 earnings.
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