Why PVH Stock Is Soaring Today

PVH stock was on its way up Thursday following the release of its earnings report for the fourth quarter of 2018.

Why PVH Stock Is Soaring Today

PVH (NYSE:PVH) reported earnings per share of $1.84 for the fourth quarter of the year. This is an increase over the company’s earnings per share of $1.58 from the same time last year. It was also a boon to PVH stock by beating out Wall Street’s earnings per share estimate of $1.76 for the quarter.

Net income reported in the PVH earnings report for the fourth quarter of 2018 comes in at $158.40 million. This is better than the company’s net income of $107.90 million reported in the fourth quarter of 2017.

The PVH earnings report for the fourth quarter of the year also includes revenue of $2.48 billion. The American clothing company’s revenue from the same period of the year prior was $2.50 billion. This is good news for PVH stock as Wall Street was looking for the company to report revenue of $2.41 billion during the period.

The most recent PVH earnings report also includes the company’s guidance for the full year of 2019. It is expecting earnings per share for the year to range from 10.30 to $10.40 on a revenue increase of around 4%. Wall Street is estimating earnings per share of $10.32 on revenue of $9.88 billion for the year.

PVH stock was up 15% as of Thursday afternoon and is up 18% since the start of the year.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2019/03/why-pvh-stock-is-soaring-today/.

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