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Mar 31, 2022
Columbia Q1 2022 Earnings Report
Reported a record net sales and increased earnings per share, driven by strong consumer demand and broad-based growth across brands, channels, and geographies.
Key Takeaways
Columbia Sportswear Company reported a strong first quarter in 2022, with net sales increasing by 22% to a record $761.5 million and diluted earnings per share increasing by 23% to $1.03. The company's performance was driven by growth across all brands, channels, and geographies.
Net sales increased 22 percent to a record $761.5 million.
Operating income increased 19 percent to $83.7 million.
Diluted earnings per share increased 23 percent to $1.03.
The Company repurchased $217.3 million of common stock during the first quarter.
Columbia
Columbia
Columbia Revenue by Geographic Location
Revenue by Geographic Location
United States Revenue
CapyFin.comLatin America and Asia Pacific Revenue
CapyFin.comEurope, Middle East and Africa Revenue
CapyFin.comCanada Revenue
CapyFin.com Forward Guidance
The Company's 2022 Financial Outlook reflects expectations as of April 28, 2022 and are subject to significant risks and business uncertainties.
Positive Outlook
- Net sales are expected to increase 16 to 18 percent to $3.63 to $3.69 billion from $3.13 billion in 2021.
- Gross margin is expected to contract approximately 130 basis points to approximately 50.3 percent of net sales from 51.6 percent of net sales in 2021.
- SG&A expenses are expected to increase at a slightly slower rate than net sales growth.
- Operating income is expected to be $477 to $502 million, resulting in operating margin of 13.2 to 13.6 percent, compared to operating margin of 14.4 percent in 2021.
- Net income is expected to be $363 to $382 million, resulting in diluted earnings per share of $5.70 to $6.00.
Challenges Ahead
- Foreign currency translation is anticipated to reduce 2022 net sales growth by approximately 120 basis points.
- We have paused taking any new orders from our Russia-based distributor and removed any future sales to it from this outlook. This equates to an approximate 2 percent headwind to full year 2022 consolidated net sales.
- This outlook reflects estimates as of April 28, 2022 regarding the impact of the COVID-19 pandemic on operations; economic conditions, including inflationary pressures; supply chain disruptions, constraints and expenses; labor shortages; changes in consumer behavior and confidence; as well as geopolitical tensions.
- Operating cash flow is expected to be at least $170 million.
- Capital expenditures are planned to be between $80 to $100 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income