Skechers Raises FY24 Sales Outlook From $8.60B-$8.80B To $8.725B-$8.875B (Est $8.781B), EPS From $3.65-$3.85 To $3.95-$4.10 (Est $3.90)
Portfolio Pulse from Benzinga Newsdesk
Skechers has updated its fiscal year 2024 sales and earnings per share (EPS) outlook, indicating a positive adjustment in its financial forecasts. The company now expects sales to range between $8.725 billion and $8.875 billion, up from the previous forecast of $8.60 billion to $8.80 billion. The EPS forecast has also been raised from $3.65-$3.85 to $3.95-$4.10, surpassing the analyst estimate of $3.90.
April 25, 2024 | 8:24 pm
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Skechers has raised its FY24 sales and EPS outlook, indicating stronger than expected financial performance and growth prospects.
The upward revision in both sales and EPS forecasts by Skechers directly impacts investor sentiment and the stock's value. Given that the new EPS forecast exceeds analyst expectations, this positive adjustment is likely to lead to increased investor confidence and could drive the stock price up in the short term.
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IMPORTANCE 90
RELEVANCE 100