Steven Madden Earnings: What To Look For From SHOO
Shoe and apparel company Steven Madden (NASDAQ:SHOO) will be reporting earnings tomorrow before market hours. Here's what you need to know.
Last quarter Steven Madden reported revenues of $552.7 million, down 0.7% year on year, in line with analyst expectations. It was a mixed quarter for the company, with revenue narrowly toppin analysts' expectations. On the other hand, its full-year earnings guidance fell short of Wall Street's estimates.
Is Steven Madden buy or sell heading into the earnings? Read our full analysis here, it's free.
This quarter analysts are expecting Steven Madden's revenue to grow 9.1% year on year to $513.4 million, improving on the 18.6% year-over-year decline in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.57 per share.
The analysts covering the company have been growing increasingly bullish about the business heading into the earnings, with revenue estimates seeing three upwards revisions over the last thirty days. The company only missed Wall St's revenue estimates once over the last two years, and has on average exceeded top line expectations by 5.8%.
Looking at Steven Madden's peers in the footwear segment, some of them have already reported Q4 earnings results, giving us a hint of what we can expect. Wolverine Worldwide's revenues decreased 20.8% year on year, beating analyst estimates by 1.6% and Crocs reported revenues up 1.6% year on year, exceeding estimates by 0.2%. Wolverine Worldwide traded flat on the results, Crocs was up 5.2%.
Read our full analysis of Wolverine Worldwide's results here and Crocs's results here.
Triggered by the Federal Reserve's hawkish stance on interest rates, shares of technology companies have been facing sell-off in 2022 and while some of the footwear stocks have fared somewhat better, they have not been spared, with share price declining 4.7% over the last month. Steven Madden is up 0.4% during the same time, and is heading into the earnings with analyst price target of $42.3, compared to share price of $43.68.
Unless you’ve been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefitting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story.
