Levi Strauss & Co Stock Falls After Mixed Q3 Results: EPS Beat, Revenues Miss
Portfolio Pulse from Erica Kollmann
Levi Strauss & Co. (NYSE:LEVI) shares fell after mixed Q3 results. EPS beat estimates, but revenues missed. DTC revenues grew, while wholesale revenues declined. Operating margin decreased, but gross margin improved. The company provided a cautious outlook for FY 2024.
October 02, 2024 | 8:32 pm
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Levi Strauss & Co. reported mixed Q3 results with EPS beating estimates but revenues missing. DTC revenues showed strong growth, while wholesale revenues declined. The operating margin decreased due to an impairment charge, but gross margin improved. The company provided a cautious outlook for FY 2024, leading to a 6.22% drop in after-hours trading.
The mixed Q3 results, with EPS beating but revenues missing, along with a cautious FY 2024 outlook, have led to a negative market reaction. The decline in wholesale revenues and the decrease in operating margin due to an impairment charge are concerning for investors, despite improvements in gross margin and DTC growth.
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