-=Deckers Outdoor (DECK) reported earnings on Thur 31 Jan 2019 (a/h)

Deckers Outdoor beats by $1.30, beats on revs; guides Q4 EPS below consensus, revs below consensus; authorizes additional $261 mln to share repurchase program

• Reports Q3 (Dec) earnings of $6.59 per share, $1.30 better than the S&P Capital IQ Consensus of $5.29; revenues rose 7.8% year/year to $873.8 mln vs the $822.86 mln S&P Capital IQ Consensus.
• UGG brand net sales for the third quarter increased 3.6% to $761.0 million compared to $734.7 million for the same period last year. 
• Gross margin was 53.8% compared to 52.2% for the same period last year.
• Co issues downside guidance for Q4, sees EPS of $0.00-$0.10 vs. $0.28 S&P Capital IQ Consensus; sees Q4 revs of $360-$374 mln vs. $394.19 mln S&P Capital IQ Consensus.
• Co issues upside guidance for FY19, sees EPS of $7.85-$7.95 vs. $6.93 S&P Capital IQ Consensus; sees FY19 revs of $1.986-$2.0 bln vs. $1.97 bln S&P Capital IQ Consensus.
• Stock Buyback: "In light of our strong results and the confidence in our strategies to produce strong cash flow over time, the Board of Directors has authorized an additional $261 million to our share repurchase program. Combined with the $89 million remaining under our current authorization, we now have the ability to repurchase a total of $350 million worth of shares in the future, as one avenue to effectively return value to shareholders."