Free Research Report as PVH’s GAAP EPS Surged 96% and Beat Expectations
Stock Monitor: Oxford Industries Post Earnings Reporting
LONDON, UK / ACCESSWIRE / January 03, 2018 / Active-Investors.com has just released a free earnings report on PVH Corp. (NYSE: PVH). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=PVH. The Company posted its third quarter fiscal 2017 operating results on November 29, 2017. The international apparel retailer's net sales grew 5% on a y-o-y basis.Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is currently working on the research report for Oxford Industries, Inc. (NYSE: OXM), which also belongs to the Consumer Goods sector as the Company PVH Corp. Do not miss out and become a member today for free to access this upcoming report at:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, PVH Corp. most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/?symbol=PVH
Earnings Highlights and Summary
During the third quarter of the fiscal year 2017, PVH posted net sales of $2.36 billion compared to $2.24 billion in Q3 FY16, reflecting an increase of 5% on a y-o-y basis. The revenue numbers beat analysts’ estimates of $2.33 billion.
The Company’s gross profit was $1.30 billion in Q3 FY17 compared to $1.19 billion in Q3 FY16, increasing 8.87% on a y-o-y basis. PVH’s selling, general, and administrative expenses (SG&A) amounted to $1.02 billion in the reported quarter compared to $918 million in Q3 FY16, increasing 11.14% on a y-o-y basis. The Company’s operating income surged 41.84% to $280.7 million in Q3 FY17 compared to $197.9 million in Q3 FY16.
PVH’s net income totaled $239.2 million in the reported quarter compared to $126.2 million in the third quarter of the previous year, shooting 89.54% on a y-o-y basis. The Company’s diluted earnings per share (EPS) were $3.05 in Q3 FY17 compared to $1.56 in Q3 FY16, increasing 95.51% on a y-o-y basis. PVH’s EPS on a non-GAAP basis was $3.02 for Q3 FY17 versus $2.60 in Q3 FY16, beating analysts’ estimates of $2.91.
Segment Details
PVH has three business segments, namely: (i) Calvin Klein segment, (ii) Tommy Hilfiger segment, and (iii) Heritage Brands segment.
The Calvin Klein segment posted net sales of $942.60 million in the reported quarter compared to $891.20 million in Q3 FY16, growing 5.77% on a y-o-y basis. The segment’s operating income was $142.40 million in Q3 FY17 compared to $68.90 million in the third quarter of the previous year, advancing to 106.68% on a y-o-y basis, and was primarily attributable to a non-cash loss of $77 million recorded in the year ago same period in advance of the Mexico deconsolidation.
The Tommy Hilfiger segment posted net sales of $1.02 billion in the reported quarter compared to $927 million in Q3 FY16, increasing 9.88% on a y-o-y basis. The segment’s operating income was $146.7 million in Q3 FY17 compared to $116.3 million in Q3 FY16, increasing 26.14% on a y-o-y basis. The growth was due to the improvement in the brands international business, vowing to the persistent strength in Europe and Asia.
The Heritage Brands segment reported net sales of $395.6 million in the reported quarter compared to $425.9 million in Q3 FY16, declining by 7.11% on a y-o-y basis. The segment’s operating income was $29.9 million in Q3 FY17 compared to $43.6 million in Q3 FY16, showing a decline of 31.42% on a y-o-y basis, due to a planned change in wholesome shipment timings from the third quarter to the second quarter.
Cash Matters
PVH has cash and cash equivalents of $612.3 million as on October 29, 2017, compared to $662.4 million as on October 30, 2016. The net inflow from operating activities was $40.2 million in the reported quarter compared to $167.7 million in Q3 FY16.
Outlook
For the fiscal year 2017, PVH expects EPS on a GAAP basis to be in the range of $6.80 to $6.82 compared to $6.79 in 2016, and projects EPS on a non-GAAP basis to be in the band of $7.78 to $7.80 compared to $6.80 in 2016. PVH’s revenue is projected to increase approximately 7% on y-o-y basis in 2017.
For the fourth quarter 2017, PVH is projecting EPS on a GAAP basis to be in the range of $1.35 to $1.37 compared to $1.26 in the prior year’s same period. The Company projects EPS on a non-GAAP basis to be in the band of $1.42 to $1.44 for the fourth quarter 2017 versus $1.23 in the prior year’s comparable period. PVH’s revenue is projected to increase approximately 11% in the upcoming quarter from the prior year’s corresponding period.
Stock Performance Snapshot
January 02, 2018 - At Tuesday’s closing bell, PVH Corp.’s stock advanced 1.28%, ending the trading session at $138.97.
Volume traded for the day: 615.34 thousand shares.
Stock performance in the last month – up 3.29%; previous three-month period – up 9.43%; past twelve-month period – up 54.00%; and year-to-date – up 1.28%
After yesterday’s close, PVH Corp.’s market cap was at $10.67 billion.
Price to Earnings (P/E) ratio was at 20.69.
The stock has a dividend yield of 0.11%.
The stock is part of the Consumer Goods sector, categorized under the Textile - Apparel Clothing industry. This sector was up 0.5% at the end of the session.
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