** charts before earnings **
** charts after earnings **
PVH beats by $0.18, reports revs in-line; guides Q4 EPS below consensus, revs just below consensus :
- Reports Q3 (Oct) earnings of $2.66 per share, $0.18 better than the Capital IQ Consensus of $2.48; revenues fell 3.1% year/year to $2.16 bln vs the $2.16 bln Capital IQ Consensus.
- Co issues downside guidance for Q4, sees EPS of $1.37-1.47 vs. $1.60 Capital IQ Consensus Estimate; sees Q4 revs flat YoY (~$2.07 bln) vs. $2.09 bln Capital IQ Consensus with rev +5% ex-FX. Sees FY16 rev -3% from -2%.
- It is currently projected that revenue for the Calvin Klein business in the fourth quarter will increase ~15% on a constant currency basis (increase ~10% on a GAAP basis), partially due to the benefit of the Chinese New Year, as the fourth quarter of 2015 includes the peak selling season before the Chinese New Year while the fourth quarter of 2014 did not. Revenue for the Tommy Hilfiger business in the fourth quarter is currently projected to increase ~1% on a constant currency basis (decrease ~5% on a GAAP basis). Revenue for the Heritage Brands business in the fourth quarter is currently projected to decrease ~4% on a GAAP basis due to the exit from the Izod retail business.
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