Phillips-Van Heusen Corp (PVH) said after close Monday that it earned $2.38 per share in quarter four 2022. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $2.5 billion, beating estimates by $119 million.
In the same quarter a year ago, the company earned $2.84 per share on revenue of $2.4 billion.
The stock is up 19.53% to $88.00 after the report.
Despite revenues increasing, earnings decreased, signaling a decline in profit margins.
Wall Street Analysts had an average rating of Buy on the stock prior to the report.
Trading in the five days leading up to the report earned Phillips-Van Heusen Corp a Bearish Sentiment Rank from InvestorsObserver.
Prior to the report, InvestorsObserver gave the stock an overall score of 60. Meanwhile, the average Wall Street analyst rated the stock a Buy.
PVH designs and markets branded apparel in more than 40 countries. Its key fashion categories include men's dress shirts, ties, sportswear, underwear, and jeans. Its leading designer brands, Calvin Klein and Tommy Hilfiger, generate nearly all its revenue after it disposed of most of its smaller brands in 2021. PVH licenses its brands to third parties, distributes through department stores and other wholesale accounts, and sells through its own stores and e-commerce. The firm traces its history to 1881 and is based in New York City.
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Phillips-Van Heusen Corp Up 19.53% To $88.00 After Earnings Beat
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