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Dec 31, 2021
Columbia Q4 2021 Earnings Report
Reported record fourth quarter and full year financial results and provided full year 2022 financial outlook.
Key Takeaways
Columbia Sportswear Company reported a record fourth quarter with net sales increasing 23 percent to $1,129.7 million and diluted earnings per share increasing 66 percent to $2.39. The company's performance was driven by robust consumer demand and DTC outperformance. The Board of Directors approved a 15 percent increase to the quarterly dividend to $0.30 per share.
Net sales increased 23 percent to a record $1,129.7 million.
Operating income increased 71 percent to a record $211.6 million, or 18.7 percent of net sales.
Diluted earnings per share increased 66 percent to a record $2.39.
Exited the quarter with $894.5 million in cash and short-term investments and no borrowings.
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 expects net sales to increase 16 to 18 percent to $3.63 to $3.69 billion, operating income to be $472 to $498 million, and diluted earnings per share to be $5.50 to $5.80 for the full year 2022.
Positive Outlook
- Net sales growth of high-teens to low-20 percent, compared to first half 2021.
- SG&A expenses are anticipated to grow slower than net sales growth, resulting in modest SG&A leverage.
Challenges Ahead
- Gross margin is expected to contract approximately 160 basis points to approximately 50 percent of net sales from 51.6 percent of net sales in 2021.
- Gross margin is anticipated to contract over 300 basis points compared to first half 2021.
Revenue & Expenses
Visualization of income flow from segment revenue to net income