Categories AlphaGraphs, Earnings, Other Industries

Levi Strauss stock falls after Q2 earnings drop on IPO costs, miss estimates

Denim specialist Levi Strauss (NYSE: LEVI), which returned to the public market two months ago, reported weaker than expected earnings for the second quarter, driving the stock lower in Tuesday’s after-hours session. The results were negatively impacted by costs related to the recent IPO.

Levi Strauss' Q2 2019 Financial Summary

The San Francisco, California-based company reported net profit of $28.2 million or $0.07 per share for the second quarter, compared to $74.9 million or $0.19 per share a year earlier. The bottom-line was negatively impacted by the costs associated with the initial public offering in March. Analysts were looking for a higher profit.

Revenues were $1.3 billion during the three-month period, up 5% from the year-ago period and in line with the consensus estimate. The top-line growth was broad-based, with sales in the Americas and Europe growing 3% and 9% respectively. Asia sales were up 6%.

The top-line growth was broad-based, with sales in the Americas and Europe growing 3% and 9% respectively

Revenues from the direct-to-consumer business moved up 9%, helped by the expansion of the retail network and e-commerce platform. There were 78 more company-operated stores at the end of the quarter, compared to last year.

Chip Bergh, chief executive officer of Levi Strauss, said, “Our second quarter and first half results reflect the continued strength of our diversified business model as we delivered broad-based growth across all brands, regions and key product categories despite challenging retail and macroeconomic environment.”

Listen to: Levi Strauss & Co Q1 2019 Earnings Conference

Looking ahead, the management forecasts that net revenues will grow at the high end of the mid-single digit range in fiscal 2019. Adjusted EBIT margin is expected to be slightly up in the range of 10 basis points. The estimate for capital expenditures is between $190 million and $200 million. Levi Strauss plans to open around 100 new company-operated stores by the end of the year.

Also see: Gap stock plunges after Q1 results miss estimates

Meanwhile, the company is unlikely to get the benefit of Black Friday sales due to the timing of its fiscal year ending the final Sunday of November this year.

Levi shares remained broadly stable since the company went public. The stock closed Tuesday’s regular trading higher but lost sharply during the extended session. It has gained about 6% since the beginning of the year.

We’re on Apple News! Follow us to receive the latest stock market, earnings and financial news at your fingertips

Most Popular

CVX Earnings: Chevron reports lower revenue and profit for Q3 2024

Energy exploration company Chevron Corporation (NYSE: CVX) on Friday announced third-quarter 2024 financial results, reporting a decline in net profit and revenues. Net income attributable to Chevron Corporation dropped to

Key highlights from Exxon Mobil Corporation’s (XOM) Q3 2024 earnings results

Exxon Mobil Corporation (NYSE: XOM) reported its third quarter 2024 earnings results today. Total revenues and other income remained relatively flat at $90 billion compared to the same period a

AAPL Earnings: Apple Q4 2024 sales rise 6% YoY, beat estimates

Apple Inc. (NASDAQ: AAPL) reported an increase in revenues for the fourth quarter of 2024. The top line came in above estimates. The gadget giant generated revenues of $94.9 billion

Comments

  1. Pingback: Political Science
  2. Pingback: bonanza178
  3. Pingback: apk download
  4. Pingback: fn firearms
  5. Pingback: Bachelor's Degree
  6. Pingback: Dental implants
  7. Pingback: buy bergara guns
  8. Pingback: Alpha88
  9. Pingback: bonanza178
  10. Pingback: aksara178
  11. Pingback: togel terpercaya
  12. Pingback: meja 365
  13. Pingback: Luce lineare LED
  14. Pingback: binario luci led
  15. Pingback: Fiverr Earn
  16. Pingback: Fiverr Earn
  17. Pingback: Fiverr Earn
  18. Pingback: Fiverr Earn
  19. Pingback: Fiverr Earn
  20. Pingback: fiverrearn.com
  21. Pingback: cortexi buy
  22. Pingback: 3pl Broker
  23. Pingback: glucotrust
  24. Pingback: clima
  25. Pingback: fiverrearn.com
  26. Pingback: french bulldog
  27. Pingback: chocolate frenchie
  28. Pingback: jute vs sisal rug
  29. Pingback: seo in Bahrain
  30. Pingback: isle of mujeres
  31. Pingback: teacup frenchie
  32. Pingback: future university
  33. Pingback: future university
  34. Pingback: bandeau set
  35. Pingback: what is seo
  36. Pingback: fue
  37. Pingback: six sigma
  38. Pingback: Warranty
  39. Pingback: FUE
  40. Pingback: FUE
  41. Pingback: Residential moving
  42. Pingback: Classic Books 500
  43. Pingback: FiverrEarn
  44. Pingback: FiverrEarn
  45. Pingback: FiverrEarn
  46. Pingback: Speaker
  47. Pingback: Media
  48. Pingback: FiverrEarn
  49. Pingback: FiverrEarn
  50. Pingback: Sefton Onlyfans
  51. Pingback: pupuk cair
  52. Pingback: partners
  53. Pingback: Betting tips
  54. Pingback: FiverrEarn
  55. Pingback: FiverrEarn
  56. Pingback: FiverrEarn
  57. Pingback: live sex cams
  58. Pingback: live sex cams
  59. Pingback: FiverrEarn
  60. Pingback: FiverrEarn
  61. Pingback: FiverrEarn
  62. Pingback: FiverrEarn
  63. Pingback: FiverrEarn
  64. Pingback: FiverrEarn
  65. Pingback: FiverrEarn
  66. Pingback: FiverrEarn
  67. Pingback: digital marketing
  68. Pingback: landscape
  69. Pingback: FiverrEarn
  70. Pingback: FiverrEarn
  71. Pingback: FiverrEarn
  72. Pingback: FiverrEarn
  73. Pingback: fullersears.com
  74. Pingback: porno izle
  75. Pingback: porn
  76. Pingback: child porn
  77. Pingback: porn
  78. Pingback: live sex cams
  79. Pingback: live sex cams
  80. Pingback: rare breed-trigger
  81. Pingback: 늑대닷컴
  82. Pingback: Slot online mobile
  83. Pingback: nang sydney
  84. Pingback: allgame
  85. Pingback: 918kiss
  86. Pingback: หวย24
  87. Pingback: Skincare
  88. Pingback: porno izle
  89. Pingback: Raahe Guide
  90. Pingback: aplikasi rtp slot
  91. Pingback: masumintl.com
  92. Pingback: itme.xyz
  93. Pingback: ItMe.Xyz
  94. Pingback: ItMe.Xyz
  95. Pingback: Bulk URL Shortener
  96. Pingback: masumintl.com

Comments are closed.

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top