Skechers Reports Q2 Results: Here's The Details
Portfolio Pulse from Erica Kollmann
Skechers USA Inc. (NYSE:SKX) reported its Q2 financial results, missing analyst estimates for both earnings and sales. The company reported earnings of 91 cents per share and sales of $2.16 billion. Despite missing estimates, sales increased by 7.2% year-over-year. The company also announced a $1 billion share repurchase program. Shares are up 1.99% after-hours.
July 25, 2024 | 9:22 pm
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Skechers reported Q2 earnings of 91 cents per share, missing estimates by 3.19%. Sales were $2.16 billion, also missing estimates but up 7.2% YoY. The company announced a $1 billion share repurchase program. Shares are up 1.99% after-hours.
Despite missing earnings and sales estimates, Skechers showed positive year-over-year growth and announced a significant share repurchase program, which is likely boosting investor confidence. This has led to a 1.99% increase in after-hours trading.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100