===Capri Holdings (CPRI) reported earnings on Wed 8 Feb 23 (b/o)

 

Capri Holdings misses by $0.40, misses on revs; guides Q4 EPS below consensus, revs below consensus; guides FY24 EPS below consensus, revs below consensus 

• Reports Q3 (Dec) earnings of $1.84 per share, excluding non-recurring items, $0.40 worse than the S&P Capital IQ Consensus of $2.24; revenues fell 6.0% year/year to $1.51 bln vs the $1.54 bln S&P Capital IQ Consensus.
• Gross profit was $1.01 billion and gross margin was 66.5%, compared to $1.05 billion and 65.1% in the prior year. Adjusted gross profit was $1.00 billion and adjusted gross margin was 66.3%, compared to $1.05 billion and 65.1% in the prior year.
• Co issues downside guidance for Q4, sees EPS of $0.90-0.95, excluding non-recurring items, vs. $1.39 S&P Capital IQ Consensus; sees Q4 revs of $1.275 bln vs. $1.41 bln S&P Capital IQ Consensus.
• Co issues downside guidance for FY24, sees EPS of $6.40, excluding non-recurring items, vs. $7.24 S&P Capital IQ Consensus; sees FY24 revs of $5.8 bln vs. $6.02 bln S&P Capital IQ Consensus.