Ugg parent Deckers Outdoor shares jump after earnings, sales beat

Deckers Outdoor Corp. shares jumped 7.7% in Thursday after-hours trading after the footwear and accessories company reported fiscal third-quarter earnings and sales that beat expectations. Comprehensive income totaled $90.9 million, or $2.69 per share, up from $26.6 million, or $1.27 per share, for the same period last year. Adjusted EPS was $4.97, exceeding the FactSet consensus $3.82. The company, whose brands include Ugg, Teva and Sanuk, said adjusted EPS was “largely effected” by recent tax reforms. Sales totaled $810.5 million, up from $760.3 million and ahead of the $748.0 million FactSet consensus. Deckers says it plans to repatriate $250.0 million by the end of fiscal 2018, a preliminary estimate that could be impacted by clarifications or changes to tax reforms or other factors. The company sees fourth-quarter sales in the range of $370.0 million to $375.0 million, and adjusted EPS in the range of 15 cents to 20 cents. The FactSet consensus is for sales of $377.4 million and earnings of 24 cents per share. Deckers shares are up 26.7% for the last three months, and up 53.5% for the last year. The S&P 500 index is up 9.4% for the past three months.

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