BUCKLE Reports Q3 FY2024 Earnings Results on October 31, 2023

🌥️Earnings Overview

BUCKLE ($NYSE:BKE) reported their Q3 FY2024 earnings results on October 31, 2023, with a total revenue of USD 303.5 million, which was 8.7% lower than the same period in the previous year. Net income for the quarter was also reported to have decreased 15.7% year-over-year to USD 51.8 million.

Market Price

On Friday, BUCKLE stock opened at $35.7 and closed at $37.7, representing an 8.0% increase from its previous closing price of $34.9. The impressive increase in stock price was due to the positive results from the company’s latest financial quarter. Analysts lauded the strong results and predicted that the stock price will continue to climb in the coming months. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Buckle. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Buckle. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Buckle. More…

Key Ratios Snapshot

Some of the financial key ratios for Buckle are shown below. More…

Analysis

GoodWhale conducted an analysis of BUCKLE‘s financials and concluded that the company is in good shape. According to our Star Chart, BUCKLE had a high health score of 10/10 with regard to its cashflows and debt, indicating its capability to sustain future operations in times of crisis. In addition, BUCKLE had a strong score in dividend, profitability, and a medium score in asset and growth. Based on these factors, we classified BUCKLE as a ‘rhino’, a type of company we conclude has achieved moderate revenue or earnings growth. Given BUCKLE’s strong financials and moderate growth potential, investors looking for steady returns may be interested in this company. These could include dividend investors, those interested in long-term growth, or those looking to diversify their portfolios with a stable stock. As always, investors should conduct further research into the company before investing. More…

Peers

Buckle Inc. is an American fashion retailer that specializes in selling apparel, footwear, and accessories for men and women. The company operates through two segments: Retail and Direct. The Retail segment consists of the company’s stores, e-commerce, and catalog businesses. The Direct segment includes the company’s credit card business. Buckle Inc. competes with Citi Trends Inc, Vedant Fashions Ltd, Gfoot Co Ltd, and other retailers who sell similar products.

– Citi Trends Inc ($NASDAQ:CTRN)

Citi Trends Inc is a specialty retailer of urban lifestyle apparel and accessories for men, women, and children. The company has a market cap of 183.43M and a ROE of 27.52%. Citi Trends operates over 700 stores in 33 states, primarily in the southeastern United States. The company offers a variety of apparel, including t-shirts, hoodies, jeans, and dresses, as well as accessories such as jewelry, belts, and handbags. Citi Trends’ mission is to provide affordable, trendy apparel and accessories for its customers.

– Vedant Fashions Ltd ($BSE:543463)

Vedant Fashions Ltd is an Indian clothing company with a market cap of 347.93B as of 2022. The company has a Return on Equity of 38.43%. Vedant Fashions Ltd is a leading manufacturer and retailer of clothing in India. The company designs, manufactures, and markets a wide range of clothing products for men, women, and children. Vedant Fashions Ltd has a wide network of retail outlets across India. The company also has an online presence through its website and mobile app.

– Gfoot Co Ltd ($TSE:2686)

Gfoot Co Ltd is a company that manufactures and sells footwear. It has a market cap of 12.42B as of 2022 and a Return on Equity of -375.46%. The company’s products are sold in over 100 countries and it has over 30,000 employees.

Summary

Investors responded positively to BUCKLE‘s Q3 FY2024 earnings results on October 31 2023, as the stock price moved up on the same day. Total revenue for the quarter was USD 303.5 million, a decrease of 8.7% compared to the same period last year, while net income was USD 51.8 million, a reduction of 15.7% year over year. Despite the year-over-year declines, BUCKLE’s bottom line results exceeded analyst expectations, and investors responded positively. Going forward, investors will be keeping an eye on how the company responds to these pressures in order to determine its future performance.