Deckers Outdoor (NYSE:DECK) shares plunged over 20% intra-day today after the footwear maker issued disappointing guidance for the current quarter, overshadowing its better-than-expected fourth-quarter earnings and revenue.

The company reported Q4 adjusted earnings per share of $1.00, well ahead of the $0.59 analyst estimate. Revenue rose 6.5% year-over-year to $1.02 billion, slightly above the $1.01 billion consensus.

Brand performance was mixed: HOKA grew 10% year-over-year but fell short of the 14.3% consensus, while UGG exceeded expectations with 3.6% growth versus an anticipated decline of nearly 5%.

However, investor sentiment turned sharply negative on the company’s fiscal Q1 2026 forecast. Deckers expects EPS of $0.62–$0.67, missing the $0.79 consensus, and revenue of $890–$910 million, below the $925.3 million estimate.

The weak near-term outlook fueled concerns about slowing momentum in key brands and pressured the stock despite a solid Q4 close to the fiscal year.