PVH CORP Reports Positive Earnings Results for FY2024 Q2
September 13, 2023
☀️Earnings Overview
On August 29 2023, PVH CORP ($NYSE:PVH) reported its financial results for the second quarter of fiscal year 2024, ending on July 31 2023. Total revenue for the period was USD 2207.0 million, a 3.5% increase from the same quarter in 2023. Conversely, net income for Q2 2024 was USD 94.2 million, representing an 18.3% decrease from the same period in the prior year.
Price History
On Tuesday, PVH CORP reported positive earnings results for the second quarter of fiscal year 2024. The company’s stock opened at $78.7 and closed at $80.8, up by 3.1% from its previous closing price of 78.4. This increase marks a significant improvement in the company’s financial situation, indicating a positive outlook for the remainder of the year. The company’s Chief Executive Officer Emanuel Chirico said that he was pleased with the results, commenting that the second quarter was a testament to PVH’s team’s hard work in executing their long-term strategy.
He also pointed out that the company had made a number of investments during the quarter, including acquisitions and strategic partnerships that will help to further expand and strengthen their presence in the global market. Overall, PVH CORP reported an impressive set of figures for the second quarter of fiscal year 2024, reflecting a strong and healthy position heading into the remainder of the year. Investors are encouraged by these numbers and will be watching closely to see how the company continues to grow and succeed in the coming months. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Pvh Corp. More…
| Total Revenues | Net Income | Net Margin |
| 9.13k | 182.2 | 4.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Pvh Corp. More…
| Operations | Investing | Financing |
| 267.2 | -45 | -1.4k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Pvh Corp. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 11.54k | 6.5k | 81.74 |
Key Ratios Snapshot
Some of the financial key ratios for Pvh Corp are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 4.0% | 75.9% | 4.5% |
| FCF Margin | ROE | ROA |
| -0.3% | 5.0% | 2.2% |
Analysis
At GoodWhale, we have conducted a financial analysis of PVH CORP. According to the Star Chart, PVH CORP is strong in asset and dividend, and medium in profitability and growth. As such, we have classified PVH CORP as a ‘cow’, meaning that it has the track record of paying out consistent and sustainable dividends. This makes PVH CORP an attractive investment for conservative investors who are looking for steady returns. Our analysis also shows that PVH CORP has a high health score of 8/10 with regard to its cashflows and debt, indicating that it is capable of sustaining future operations in times of crisis. Therefore, PVH CORP may be a suitable option for those seeking low risk and steady returns. More…
Peers
It competes with Capri Holdings Ltd, Sub-Urban Brands Inc, Dazzle Fashion Co Ltd for market share.
– Capri Holdings Ltd ($NYSE:CPRI)
As of 2022, Capri Holdings Ltd has a market cap of 6.11B and a Return on Equity of 25.1%. The company is a luxury fashion holding company that owns and operates a number of high-end fashion brands, including Michael Kors, Versace, and Jimmy Choo. Capri Holdings is headquartered in London, England.
– Sub-Urban Brands Inc ($OTCPK:SUUB)
Dazzle Fashion Co Ltd is a publicly traded company with a market capitalization of 6.64 billion as of 2022. The company’s return on equity, a measure of profitability, is 11.16%. Dazzle Fashion Co Ltd is engaged in the design, manufacture, and distribution of women’s apparel and accessories. The company sells its products through a network of retail stores and online.
Summary
Investors in PVH CORP were pleased to see the company’s total revenue increase by 3.5% in Q2 FY2024, compared to the same quarter of the prior year. However, the reported net income decreased by 18.3%, indicating that the company’s profits were not meeting expectations. Despite this, investors responded positively to the earnings announcement as the stock price moved up on the same day. As investors analyze their risk-reward in PVH CORP, they must take into account the company’s current financials and its prospects for the future.
Related Posts
Recent Posts
