Levi Strauss & Co Reports Better-Than-Expected Q1 Results, Raises FY24 Guidance
Portfolio Pulse from Erica Kollmann
Levi Strauss & Co. (NYSE:LEVI) reported Q1 earnings of 26 cents per share, surpassing the consensus estimate of 21 cents. Quarterly sales were $1.558 billion, slightly above the $1.547 billion estimate but down 7.76% year-over-year. Inventories decreased by 14%, while direct-to-consumer revenues rose by 7%. The company raised its FY24 EPS guidance from $1.15-$1.25 to $1.17-$1.27, against an estimate of $1.21. LEVI shares rose 6.59% after-hours to $19.89.
April 03, 2024 | 8:51 pm
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Levi Strauss & Co. reported better-than-expected Q1 results, with earnings and sales surpassing estimates. The company also raised its FY24 EPS guidance, leading to a 6.59% increase in after-hours trading.
The positive earnings report and raised guidance indicate strong company performance and outlook, which typically leads to increased investor confidence and can drive the stock price up in the short term.
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