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Jun 30, 2023
Deckers Q1 2024 Earnings Report
Deckers reported a strong Q1 2024 with revenue and EPS increases, driven by HOKA brand momentum and strategic focus on DTC and international markets.
Key Takeaways
Deckers Brands reported a 10% increase in revenue to $676 million and a 45% increase in diluted earnings per share to $2.41 for the first quarter of fiscal year 2024. The company has raised its full-year diluted earnings per share guidance to a range of $21.75 to $22.25.
Revenue increased by 10% to $676 million.
Diluted earnings per share increased by 45% to $2.41.
HOKA brand net sales increased by 27.4% to $420.5 million.
Full year diluted earnings per share guidance raised to $21.75-$22.25.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The Company's full fiscal year 2024 outlook is forward-looking in nature, reflecting our expectations as of July 27, 2023, and is subject to significant risks and uncertainties that limit our ability to accurately forecast results.
Positive Outlook
- Net sales are now expected to be approximately $3.980 billion.
- Gross margin is still expected to be approximately 52%.
- SG&A expenses as a percentage of sales are still projected to be approximately 34%.
- Operating margin is still expected to be approximately 18%.
- Diluted earnings per share is now expected to be in the range of $21.75 to $22.25.
Challenges Ahead
- supply chain disruptions, constraints and related expenses
- labor shortages
- changes in economic conditions including foreign currency fluctuation, inflationary pressures, consumer confidence and discretionary spending
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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