PVH Reaffirms Projected FY24 Revenue Decrease Of 6% To 7% (Decrease 6% To 7% On Constant Currency Basis); Raises Adj EPS Outlook From $11.00 - $11.25 To $11.55 - $11.80, Est $11.31
Portfolio Pulse from Benzinga Newsdesk
PVH Corp. has reaffirmed its projected FY24 revenue decrease of 6% to 7% on a constant currency basis. However, the company has raised its adjusted EPS outlook from $11.00-$11.25 to $11.55-$11.80, due to a tax benefit from a favorable audit settlement.
August 27, 2024 | 8:20 pm
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PVH Corp. has reaffirmed its projected FY24 revenue decrease of 6% to 7% on a constant currency basis. However, the company has raised its adjusted EPS outlook from $11.00-$11.25 to $11.55-$11.80, due to a tax benefit from a favorable audit settlement.
The reaffirmation of a revenue decrease is a negative indicator, but the increase in adjusted EPS outlook due to a tax benefit is a positive development. The market may react favorably to the improved EPS guidance, leading to a potential short-term positive impact on PVH's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100