PVH shares drop 5% despite Q3 EPS beat & raised outlook

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PVH shares drop 5% despite Q3 EPS beat & raised outlook
Credit: © Reuters.

PVH Corp. (NYSE: PVH ) shares fell more than 5% after-hours despite the company’s reporting Q3 earnings, with EPS of $2.90 beating the consensus estimate of $2.74.

Revenue grew 4% year-over-year (up 1% on a constant currency basis) to $2.36 billion, compared to the consensus estimate of $2.41B.

“We delivered another strong quarter, with high single-digit revenue growth for our direct-to-consumer businesses across Calvin Klein and TOMMY HILFIGER, with growth in all regions, and we exceeded our EPS guidance,” said CEO Stefan Larsson.

For Q4, the company expects EPS of approximately $3.45, compared to the consensus estimate of $3.51. Revenue is projected to decrease 3% to 4% year-over-year.

For the full year, the company sees EPS of approximately $10.45, compared to the consensus of $10.35. Revenue is expected to increase approximately 1% year-over-year.

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