Revolve Group (RVLV) Tops Q1 EPS by 17c, Revenues Beat

Revolve Group (NYSE: RVLV) reported Q1 EPS of $0.30, $0.17 better than the analyst estimate of $0.13. Revenue for the quarter came in at $178.91 million versus the consensus estimate of $157.68 million.

“We delivered record quarterly net sales in the first quarter of 2021, highlighted by growth of 22% year-over-year and 30% over the first quarter of 2019, with meaningful acceleration in growth during March,” said co-founder and co-CEO Mike Karanikolas. “We also delivered record net income of $22 million, or $0.30 per diluted share, and $33 million in cash flow generated from operating activities, a more than 400% and 300% increase over the prior year, respectively. Our exceptional results for the first quarter reinforce our belief that REVOLVE is uniquely positioned for the reopening of economies and the post-COVID world as a brand consumers associate with living an active social lifestyle. We are excited to re-accelerate our investment in the business to support our next phase of growth.”

“Particularly exciting is that the strong recovery in March came from a return to growth in styles associated with social outings, such as dresses, as well as continued strong growth in at home related products, including beauty, intimates and activewear that have grown rapidly throughout the pandemic,” said co-founder and co-CEO Michael Mente. “Driven by our powerful brand, our proprietary technology, and our data driven merchandising, our results demonstrate great progress against our goal of developing a deeper relationship with our customer and capturing a larger share of her wallet over time.”

For earnings history and earnings-related data on Revolve Group (RVLV) click here.

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