Loading...
•
Mar 30, 2024
Carter's Q1 2024 Earnings Report
Carter's Q1 2024 earnings exceeded sales and earnings objectives.
Key Takeaways
Carter's, Inc. reported a decrease in net sales to $661.5 million compared to $695.9 million in Q1 2023. Diluted EPS increased to $1.04 from $0.95 in the same period last year. The company returned $38 million to shareholders through dividends and share repurchases.
Net sales were $661 million, compared to $696 million in Q1 2023.
Diluted EPS was $1.04, compared to $0.95 in Q1 2023; adjusted diluted EPS was $0.98 in Q1 2023.
The company returned $38 million to shareholders through dividends and share repurchases.
The company expects net sales of $2.95 billion to $3.0 billion for the full year fiscal 2024.
Revenue by Segment
Forward Guidance
For the second quarter of fiscal 2024, the Company expects approximately $560 million to $570 million in net sales, $25 million to $30 million in adjusted operating income, and $0.35 to $0.45 in adjusted diluted earnings per share. For fiscal year 2024, the Company projects approximately $2.95 billion to $3.0 billion in net sales, comparable to mid-single-digit growth in adjusted operating income, and low to mid-single-digit growth in adjusted diluted earnings per share.
Positive Outlook
- Improved gross margin
- Comparable SG&A
- Lower net interest expense and effective tax rate
- Continued return of capital
- Improved macroeconomic environment and consumer demand as the year progresses, with a return to low single-digit comparable sales growth in U.S. Retail in the second half
Challenges Ahead
- Continued inflationary pressure on families with young children
- Slow start to Spring selling, we believe due to the late arrival of warmer weather
- Continued conservative inventory commitments by some wholesale customers
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...