FMP
Deckers Outdoor Raises Guidance on Strong Q1 Results, Shares Jump 11%
Jul 26, 2024 9:41 AM - Davit Kirakosyan
Image credit: FMP
Deckers Outdoor Corporation (NYSE:DECK) raised its guidance after reporting better-than-expected results for the first quarter, driven by strong demand for its Hoka and Ugg brands. Following the announcement, the company's shares jumped 11% in pre-market today.
For the quarter, Deckers reported earnings per share of $4.52 on revenue of $825 million, surpassing Wall Street's estimates of $3.43 per share on revenue of $805.1 million.
The company highlighted that the Hoka and Ugg brands continued to drive significant full-price demand in the global market, contributing to increased margins. The gross margin improved to 56.9%, up from 51.3% in the same period last year.
Looking forward, Deckers raised its fiscal 2025 earnings guidance to a range of $29.75 to $30.65 per share, up from the previous range of $29.50 to $30.00 per share.
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