-=G-III Apparel (GIII) reported earnings on Thur 7 Sep 23 (b/o)

 

G-III Apparel beats by $0.38, beats on revs; guides Q3 EPS above consensus, revs below consensus; guides FY24 EPS above consensus, revs above consensus

• Reports Q2 (Jul) earnings of $0.39 per share, excluding non-recurring items, $0.38 better than the FactSet Consensus of $0.01; revenues rose 9.0% year/year to $659.8 mln vs the $591.39 mln FactSet Consensus.
• Co issues mixed guidance for Q3, sees EPS of $2.03-2.13, excluding non-recurring items, vs. $1.84 FactSet Consensus; sees Q3 revs of ~$1.13 bln vs. $1.15 bln FactSet Consensus.
• Co issues upside guidance for FY24, sees EPS of $3.20-3.30, excluding non-recurring items, vs. $2.80 FactSet Consensus; sees FY24 revs of ~$3.30 bln vs. $3.26 bln FactSet Consensus.
• Additionally, co announces new multi-year outerwear license for the Champion Brand.