PVH Corp. (PVH) Tops Q2 EPS by $1.52; Guides Higher

PVH Corp. (NYSE: PVH) reported Q2 EPS of $2.72, $1.52 better than the analyst estimate of $1.20. Revenue for the quarter came in at $2.31 billion versus the consensus estimate of $2.14 billion.

Stefan Larsson, Chief Executive Officer, commented “We delivered another quarter of high-quality growth and strong performance above our guidance. This was driven by disciplined execution of our key strategic priorities, led by Calvin Klein and TOMMY HILFIGER and our international markets, focused on product strength and winning in the marketplace, super-charged by e-commerce. Our international performance was particularly strong, which performed above 2019 pre-pandemic levels. Based on our strong first half results, along with strong underlying trends, we are raising our full year outlook, which continues to reflect gross margins above 2019 pre-pandemic levels and further improvement in our operating margin.”

Mr. Larsson added, “Looking ahead, we are pleased with our recovery, which has been faster than expected across both global brands. Our continued execution of our key strategic priorities will drive business performance in the near-term, while also positioning the Company for long-term, sustainable profitable growth.”

GUIDANCE:

PVH Corp. sees FY2021 EPS of $8.50, versus the consensus of $6.75. Revenue in 2021 is projected to increase 26% to 28% (increase 24% to 26% on a constant currency basis) as compared to 2020.

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

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