PVH shares surge 8% on better than expected Q3 results & guidance

By Davit Kirakosyan

PVH Corp. (NYSE:) shares rose more than 8% after-hours following the company’s reported , with EPS of $2.60 coming in better than the consensus estimate of $2.17. Revenue fell 2% year-over-year (up 7% on a constant currency basis) to $2.28 billion, compared to the consensus estimate of $2.23B.

“We are pleased with our third quarter results as we delivered high single-digit constant currency top-line growth. This was ahead of our expectations, despite having to navigate continuing macroeconomic headwinds,” said Stefan Larsson, CEO of PVH.

The company expects Q4 revenue to decrease approximately 4% year-over-year (up approximately 4% on a constant currency basis), and EPS to be approximately $1.65.

For fiscal 2022, the company expects EPS of $8.25, compared to the consensus estimate of $7.89. Revenue is expected to be at the top end of the previous guidance range, a decrease of approximately 3% as compared to 2021 (up approximately 4% on a constant currency basis).

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