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Sep 30, 2022
Deckers Q2 2023 Earnings Report
Deckers' Q2 2023 financial results were reported, with revenue increasing by 21% compared to the same period last year.
Key Takeaways
Deckers Brands reported a strong second quarter in fiscal year 2023, with revenue increasing by 21% to $875.6 million. The company's performance was driven by growth in the HOKA brand and overall direct-to-consumer sales. Deckers reiterated its full fiscal year 2023 revenue and diluted EPS guidance.
Second Quarter Fiscal 2023 Reported Revenue was $876 million, Increasing 21% Compared to the Same Period Last Year and 25% in Constant Currency
Wholesale net sales increased 16.7% to $636.5 million
Direct-to-Consumer (DTC) net sales increased 35.3% to $239.1 million
Fiscal Year 2023 Revenue Growth Guide of 10-11% Reiterated on a Reported Basis
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The Company's full fiscal year 2023 outlook is forward-looking in nature and net sales are still expected to be in the range of $3.45 billion to $3.50 billion.
Positive Outlook
- Net sales are still expected to be in the range of $3.45 billion to $3.50 billion.
- Gross margin is now expected to be approximately 50.5%.
- SG&A expenses as a percentage of sales are now projected to be approximately 33%.
- Operating margin is still expected to be in the range of 17.5% to 18.0%.
- Effective tax rate is now expected to be approximately 22%.
Challenges Ahead
- impact of the COVID-19 pandemic on our business and operations, including 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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