PVH Corp. (PVH) Tops Q3 EPS by 60c; Guides FY EPS Higher

PVH Corp. (NYSE: PVH) reported Q3 EPS of $2.67, $0.60 better than the analyst estimate of $2.07. Revenue for the quarter came in at $2.33 billion versus the consensus estimate of $2.4 billion.

GUIDANCE:

PVH Corp. sees FY2021 EPS of $9.25, versus the consensus of $8.71.

Stefan Larsson, Chief Executive Officer, commented, “Our third quarter earnings significantly exceeded our guidance, led by our international businesses, and we achieved overall stronger than expected margin performance across brands. This reflects the strength of our global iconic brands, Calvin Klein and TOMMY HILFIGER, and the pricing power we are able to achieve through strength in product, consumer engagement, and consumer experience in the digitally led marketplace. While COVID-related challenges remain, we delivered double-digit revenue growth, which would have been even stronger, and above guidance, if not for the greater than anticipated impact of U.S. port delays that pushed wholesale shipments into the fourth quarter.”

Mr. Larsson added, “Looking ahead, while we continue to monitor the evolving COVID uncertainty, based on our strong third quarter performance and current momentum with holiday sales off to a strong start, we are further raising our earnings guidance for the full year. We are now forecasting operating margins above 2019 pre-pandemic levels. We remain highly focused on driving sustainable, long-term profitable growth and shareholder value.”

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

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