Skechers Stock Jumps On Strong Q1 Earnings: The Details
Portfolio Pulse from Adam Eckert
Skechers U.S.A. Inc (NYSE:SKX) reported strong Q1 earnings, surpassing analyst expectations with a 12.5% increase in revenue year-over-year to $2.251 billion and earnings of $1.33 per share. The company also raised its full-year 2024 revenue and EPS outlook, expressing confidence in continued growth and a goal of achieving $10 billion in sales by 2026.
April 25, 2024 | 9:05 pm
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POSITIVE IMPACT
Skechers reported a significant beat on Q1 earnings and revenue, with a positive outlook for 2024, leading to a 7.14% increase in after-hours trading.
Skechers' strong Q1 performance and optimistic guidance for 2024, including a raised revenue and EPS outlook, directly contribute to a positive investor sentiment. The after-hours stock price movement reflects immediate market reaction to these results and future confidence in the company's growth trajectory.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100