Here's How Rocky Brands (RCKY) is Placed Ahead of Q3 Earnings
Rocky Brands, Inc. RCKY is likely to report year-over-year growth in both its top and the bottom line when it releases third-quarter 2021 results. Although the Zacks Consensus Estimate for the quarter’s earnings has declined 14.8% in the past seven days to $1.44, the same suggests growth of above 38% from the year-ago quarter’s tally.
A glance at this footwear and apparel manufacturer’s performance in the trailing four quarters shows that it has an earnings surprise of 58.5%, on average.
Moreover, the consensus mark for quarterly revenues is pegged at $154.9 million, indicating a significant improvement from $77.8 million recorded in the prior-year quarter.
Key Factors to Note
Rocky Brands’ third-quarter 2021 performance is most likely to have benefited from strength in brands and improved fulfillment capabilities. Demand for brands, particularly Rocky, Georgia and Durango has been quite encouraging for a while. Progress in brands along with innovative product launches, better consumer engagement and solid inventory management continue to drive growth across work as well as the western and outdoor markets.
Markedly, Rocky Brands’ acquisition of Honeywell International's performance and lifestyle footwear business including The Original Muck Boot Company and XTRATUF footwear brands enhanced its leadership position in the high-quality performance footwear market. The company is also experiencing solid gains across its wholesale network including the key and field accounts, mainly in the farm and ranch channel as well as the e-tail partners. Its Western business is witnessing a strong momentum as well.
The company remains focused on expanding the functionality of its sites and enhancing its direct-to-consumer efforts on marketplaces, namely Amazon, Target Plus and eBay.
Clearly, the aforementioned factors raise optimism about the outcome of Rocky Brands’ quarterly results.
What the Zacks Model Unveils
Our proven model doesn’t conclusively predict an earnings beat for Rocky Brands 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. But that’s not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Rocky Brands, Inc. Price and EPS Surprise
Rocky Brands, Inc. price-eps-surprise | Rocky Brands, Inc. Quote
Rocky Brands has an Earnings ESP of 0.00% and a Zacks Rank #4 (Sell), making surprise prediction difficult.
Stocks With Favorable Combinations
Here are a few companies worth considering from the same sector as our model shows that these have the right combination of elements to beat on earnings this time around.
Steven Madden SHOO has an Earnings ESP of +4.55% and a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Carter's CRI has an Earnings ESP of +0.71% and a Zacks Rank of 2, currently.
Wolverine WWW has an Earnings ESP of +0.98% and a Zacks Rank #3, presently.
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