Loading...
•
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.
Deckers
Deckers
Deckers Revenue by Segment
Deckers Revenue by Geographic Location
Revenue by Segment
HOKA Brand Revenue
CapyFin.comUGG Brand Revenue
CapyFin.comOther Brands Revenue
CapyFin.comRevenue by Geographic Location
Domestic Sales Revenue
CapyFin.comInternational Sales Revenue
CapyFin.com 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
- geopolitical tensions
- Effective tax rate is still expected to be approximately 22% to 23%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income