Deckers (DECK) to Report Q1 Earnings: What's in the Cards?
Deckers Outdoor Corporation DECK is likely to register an increase in the top line from the last fiscal year’s quarterly reading when it reports first-quarter fiscal 2024 earnings on Jul 27, after the market close. The Zacks Consensus Estimate for revenues is pegged at $663 million, indicating an improvement of 8% from the prior fiscal year’s quarterly reported figure.
The bottom line of this designer, marketer and distributor of footwear, apparel and accessories is expected to rise from the earlier fiscal year’s quarterly tally. The consensus estimate for earnings per share in the fiscal first quarter has increased a penny to $2.17 over the past seven days, suggesting growth of 30.7% from the last fiscal year’s quarterly level.
In the last reported quarter, this Goleta, CA-based player’s bottom line outperformed the Zacks Consensus Estimate by 17.7%.
Key Factors to Note
Deckers’ performance in the fiscal first quarter is likely to have benefited from the acceleration of omnichannel capabilities, and customer-centric product and marketing strategies. DECK’s focus on expanding brand assortments, introducing an innovative line of products and enhancing direct-to-consumer business contribution is expected to have been a tailwind. These factors, coupled with management’s focus on ramping up inventory, optimizing channel mix to fulfil consumer demand, scaling production to support the growth of brands and implementing targeted price increases, are likely to have supported the top line in the quarter under review.
Keeping pace with the changing trends, Deckers has constantly been developing its e-commerce portal to capture incremental sales. The company has been making substantial investments to strengthen its online presence and enhance the shopping experience.
We note that the Zacks Consensus Estimate for first-quarter sales at the HOKA ONE ONE brand is pegged at $392.2 million, suggesting an increase of 18.8% year over year. The consensus estimate for the Teva brand is currently pegged at $61.9 million, up 3.8% year over year.
The consensus estimate for sales at the UGG brand is $197.6 million, down 5% from the year-ago period. The consensus mark for sales at the Sanuk brand is $14 million, which is down 1.2% from the prior-year quarter.
While the aforementioned factors raise optimism, inflationary pressures, labor shortages, the strengthening of the U.S. dollar and geopolitical tensions are some of the headwinds Deckers is likely to have encountered.
What the Zacks Model Unveils
Our proven model predicts an earnings beat for Deckers this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Deckers Outdoor Corporation Price and EPS Surprise
Deckers Outdoor Corporation price-eps-surprise | Deckers Outdoor Corporation Quote
Deckers has an Earnings ESP of +6.47% and a Zacks Rank of 3.
Other Stocks Poised to Beat Earnings Estimates
Here are some other companies, which according to our model, also have the right combination of elements to beat on earnings this season:
Marriott International MAR currently has an Earnings ESP of +8.44% and a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
MAR is likely to register top and bottom-line growth when it reports second-quarter 2023 results. The Zacks Consensus Estimate for its quarterly revenues is pegged at $6.1 billion, suggesting 13.3% growth from the figure reported in the prior-year quarter.
The consensus mark for Marriott’s second-quarter earnings is pegged at $2.19 per share, suggesting year-over-year growth of 21.7%. The consensus mark has remained unchanged in the past 30 days. MAR has a trailing four-quarter earnings surprise of 8%, on average.
Boyd Gaming BYD currently has an Earnings ESP of +2.92% and a Zacks Rank of 3. BYD is likely to register top and bottom-line growth when it reports second-quarter 2023 results. The Zacks Consensus Estimate for quarterly revenues is pegged at $890.7 million, suggesting 0.4% growth from the figure reported in the prior-year quarter.
The consensus mark for Boyd Gaming’s second-quarter earnings is pegged at $1.56 per share, suggesting 5.4% growth from earnings of $1.48 per share reported in the year-ago quarter. The consensus mark has remained unchanged in the past 30 days. BYD has a trailing four-quarter earnings surprise of 13.7%, on average.
lululemon athletica LULU currently has an Earnings ESP of +2.07% and a Zacks Rank of 3. LULU is likely to register top-line improvement when it reports second-quarter fiscal 2023 numbers.
The Zacks Consensus Estimate for lululemon athletica’s quarterly revenues is pegged at $2.2 billion, calling for growth of 15.8% from the prior-year quarter’s reported figure. The consensus mark for the quarterly earnings per share is $2.52, which suggests a 14.6% increase from the figure reported in the year-ago fiscal quarter. LULU has a trailing four-quarter earnings surprise of 9.9%, on average.
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Marriott International, Inc. (MAR) : Free Stock Analysis Report
Deckers Outdoor Corporation (DECK) : Free Stock Analysis Report
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Boyd Gaming Corporation (BYD) : Free Stock Analysis Report
