Categories Earnings, Retail

Levi Strauss’ Q3 earnings beat estimates; confirms FY19 outlook

Denim jeans maker Levi Strauss (NYSE: LEVI) reported third quarter 2019 financial results that surpassed the market’s estimates. In its second earnings report after becoming public in March 2019, Levi Strauss posted adjusted earnings of $0.31 per share on revenue of $1.45 billion. Analysts had projected the company to earn $0.28 per share on revenue of $1.44 billion.

The San Francisco, California-based company reaffirmed its fiscal year 2019 outlook. LEVI stock, which ended down 1.92% today at $19.39, was up about 1% in the after-market session immediately after the earnings announcement.

Levi Strauss' (LEVI) Q3 earnings beat estimates; confirms FY19 outlook

GAAP profit per share declined 3% year-over-year to $0.30, while revenue grew 4% on a reported basis and 5% on a constant currency basis.

“As for the fourth quarter, we again expect strong performance in international, direct-to-consumer, women’s and tops, and improved comparisons for U.S. wholesale,” said CEO Chip Bergh.

For the fiscal year 2019, Levi Strauss maintained its outlook. The company expects constant-currency revenue growth to be 5.5% to 6.0%. Capital expenditure for the full fiscal year is estimated to be between $190 million and $200 million. Levi Strauss expects to open nearly 100 new company-operated stores in 2019.

Read: Apparel retail stocks to watch in times of tariff war

Revenue in the Americas region fell 3% both on a reported basis and constant-currency basis due to a drop in the wholesale business. Europe and Asia regions had a reported revenue growth of 14% and 9%, respectively, benefitting from strong performance from direct-to-consumer and wholesale channels in the regions.

In August, shares of Levi Strauss traded below its IPO price of $17 and reached a low of $16.00.

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

Most Popular

Johnson & Johnson to report Q2 earnings on July 16. Here’s what to expect

Johnson & Johnson's (NYSE: JNJ) business strategy for fiscal 2025 is focused on reducing the impact of patent expirations on its revenue. Anticipating sales to benefit from growth initiatives, including

What to expect when United Airlines (UAL) reports its Q2 2025 earnings results

Shares of United Airlines Holdings, Inc. (NASDAQ: UAL) stayed green on Tuesday. The stock has gained 44% over the past three months. The airline company is scheduled to report its

Earnings Preview: Fastenal Company likely to report higher Q2 sales and profit

Fastenal Company (NASDAQ: FAST), a leading provider of industrial and construction supplies, is set to publish its second-quarter results next week. The company is among the hardest hit by the

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