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Dec 31, 2022
Deckers Q3 2023 Earnings Report
Deckers reported strong Q3 2023 results, with revenue up 13.3% and diluted EPS up to $10.48.
Key Takeaways
Deckers Brands reported a strong third quarter in fiscal year 2023, with revenue reaching $1.346 billion, a 13.3% increase compared to the same period last year. The company's performance was driven by record results from the HOKA brand and the direct-to-consumer business. Deckers has increased its fiscal year 2023 revenue growth and diluted EPS guidance.
Revenue increased by 13.3% to $1.346 billion, or 17.5% on a constant currency basis.
HOKA brand net sales increased by 90.8% to $352.1 million.
Direct-to-Consumer net sales increased by 18.7% to $699.3 million, with comparable DTC net sales up 22.1%.
Diluted earnings per share increased to $10.48, compared to $8.42 in the same period last year.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The Company's full fiscal year 2023 outlook is forward-looking in nature and is subject to significant risks and uncertainties.
Positive Outlook
- Net sales are now expected to be in the range of $3.50 billion to $3.53 billion.
- Gross margin is still expected to be approximately 50.5%.
- SG&A expenses as a percentage of sales are still projected to be approximately 33%.
- Operating margin is still expected to be in the range of 17.5% to 18.0%.
- Diluted earnings per share is now expected to be in the range of $18.00 to $18.50.
Challenges Ahead
- The 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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