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Dec 30, 2023
Carter's Q4 2023 Earnings Report
Carter's reported fourth quarter and fiscal year 2023 results, showing improved demand trends and higher than expected earnings.
Key Takeaways
Carter's Q4 2023 results showed a decrease in net sales to $858 million compared to $912 million in Q4 2022, but an increase in operating margin to 15.9% from 12.0%. Diluted EPS increased to $2.90 from $2.11 in Q4 2022. The company saw improved demand in the final weeks of 2023, driving higher than expected earnings.
Net sales decreased to $858 million from $912 million in Q4 2022.
Operating margin increased to 15.9% compared to 12.0% in Q4 2022.
Diluted EPS increased to $2.90 from $2.11 in Q4 2022.
The company returned $212 million to shareholders through share repurchases and dividends for the full fiscal year.
Revenue by Segment
Forward Guidance
For fiscal year 2024, the Company expects low single-digit growth in net sales to approximately $3.0 billion, mid single-digit growth in adjusted operating income, and mid single-digit growth in adjusted diluted earnings per share.
Positive Outlook
- Low single-digit growth in net sales to approximately $3.0 billion
- Mid single-digit growth in adjusted operating income
- Mid single-digit growth in adjusted diluted earnings per share
- Operating cash flow in excess of $250 million
- Capital expenditures of $80 million
Challenges Ahead
- A mid single-digit to high single-digit decline in U.S. Retail sales
- A mid-teens decline in U.S. Wholesale sales (reflecting earlier demand for our spring product offerings and lower off-price channel sales)
- A low single-digit to mid single-digit decline in International sales
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
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