PVH Corp. (PVH) Tops Q4 EPS by 12c, Beats on Revenues; Offers FY18 EPS Outlook Above Consensus

Note: EPS may not be comparable

PVH Corp. (NYSE: PVH) reported Q4 EPS of $1.58, $0.12 better than the analyst estimate of $1.46. Revenue for the quarter came in at $2.5 billion versus the consensus estimate of $2.35 billion.

• 2017 revenue exceeded guidance, driven by Tommy Hilfiger and Calvin Klein:
  • Fourth quarter revenue increased 19% (13% on a constant currency basis) compared to the prior year period
  • Record full year 2017 revenue of $8.9 billion increased 9% (7% on a constant currency basis) compared to the prior year
• 2017 EPS exceeded guidance and was:
  • GAAP basis: $1.39 (fourth quarter) and $6.84 (full year)
  • Non-GAAP basis: $1.58 (fourth quarter) and $7.94 (full year)
• 2018 outlook:
  • Revenue: Full year projected to increase approximately 7% (approximately 4% on a constant currency basis) as compared to 2017
  • GAAP basis EPS: $8.76 to $8.86 (full year) and $2.13 to $2.18 (first quarter)
  • Non-GAAP basis EPS: $9.00 to $9.10 (full year) and $2.20 to $2.25 (first quarter)

GUIDANCE:

PVH Corp. sees FY2018 EPS of $9.00-$9.10, versus the consensus of $7.82.

For earnings history and earnings-related data on PVH Corp. (PVH) click here.

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