Phillips-Van Heusen Earnings: Here’s Why Investors are Happy Now
Phillips-Van Heusen Corp. (NYSE:PVH) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 6.26%.
Phillips-Van Heusen Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 46.92% to $1.91 in the quarter versus EPS of $1.30 in the year-earlier quarter.
Revenue: Rose 33.82% to $1.91 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Phillips-Van Heusen Corp. reported adjusted EPS income of $1.91 per share. By that measure, the company beat the mean analyst estimate of $1.35. It beat the average revenue estimate of $1.91 billion.
Quoting Management: Emanuel Chirico, Chairman and Chief Executive Officer, noted, “We are very pleased with our first quarter performance, which included our newly acquired Warnaco businesses and significantly exceeded our guidance. Our results demonstrated the strength of the Calvin Klein and Tommy Hilfiger businesses, which both continue to exhibit strong global growth, despite the macro-environment and unseasonably cold weather that negatively impacted sales of spring product in North America and Europe. We were also pleased to see the strong operating improvements in our pre-existing Heritage Brands wholesale business, primarily in the sportswear division, and believe the Speedo, Warner’s and Olga brands are proving to be strategic complements to our pre-existing Heritage Brands portfolio.”
Key Stats (on next page)…