-=G-III Apparel (G-III) reported earnings on Thur 6 Sept 2018 (b/o)

G-III Apparel beats by $0.19, beats on revs; guides Q3 EPS below consensus, revs above consensus; guides FY19 EPS above consensus, revs above consensus

• Reports Q2 (Jul) earnings of $0.22 per share, excluding non-recurring items, $0.19 better than the S&P Capital IQ Consensus of $0.03; revenues rose 16.1% year/year to $624.7 mln vs the $590.16 mln S&P Capital IQ Consensus.
• Co issues mixed guidance for Q3, sees EPS of $1.72-1.82, excluding non-recurring items, vs. $1.86 S&P Capital IQ Consensus; sees Q3 revs of ~$1.08 bln vs. $1.07 bln S&P Capital IQ Consensus.
• Co issues upside guidance for FY19, sees EPS of $2.52-2.62, excluding non-recurring items, vs. $2.37 S&P Capital IQ Consensus; sees FY19 revs of $3.06 bln vs. $2.99 bln S&P Capital IQ Consensus.
  • The Company is projecting full-year adjusted EBITDA for fiscal 2019 between $250 million and $260 million compared to its previous forecast of adjusted EBITDA between $236 million and $246 million. This compares to full-year adjusted EBITDA of $201.3 million in fiscal 2018.