Levi Strauss Earnings: LEVI Stock Up 2% After Hours on Q3 Earnings

LEVI beat EPS and revenue estimates for Q3

Levi Strauss (NYSE:LEVI) earnings for the third quarter of 2019 have LEVI stock up in after-hours trading on Tuesday. This is due to the company’s adjusted earnings per share of 31 cents. That beats out Wall Street’s per-share earnings estimate of 28 cents for the quarter. Revenue of $1.45 billion was also a blessing to LEVI stock by coming in above analysts’ estimate of $1.44 billion.

Levi Strauss Earnings: LEVI Stock Up 2% After Hours on Q3 Earnings
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Now for a more in-depth look at the most recent Levi Strauss earnings report.

  • EPS reported during the quarter was down 8.82% YoY from 34 cents.
  • Revenue for the quarter was up 4.32% from $1.39 billion in the third quarter of 2018.
  • Operating income comes in at $171 million and is up 8% from the third quarter of the previous year.
  • Gross profit for the quarter was $767 million, which is up 3.37% from the same period of the year prior.
  • Gross margin reported during the quarter was 53%, which is about the same as gross margin of 53.20% from the same time in 2018.
  • The Levi Strauss earnings report also has net income coming in at $124 million.
  • This is a 4.62% drop from its net income of $130 million reported during the same time last year.

Chip Bergh, president and CEO of LEVI, said of the Levi Strauss earnings report.

“Our strategies to diversify to faster-growing, high-opportunity, high gross margin businesses continue to drive momentum, as we again grew revenues double-digits internationally, in our direct-to-consumer business, and in the women’s and tops categories.”

The Levi Strauss earnings report also has the company affirming its outlook for the full year of 2019. That includes guidance for constant-currency net revenues growth between 5.5% and 6% when compared to 2018.

You can follow this link for a more lengthy breakdown of how LEVI stock has been performing lately.

LEVI stock was up 2.22 % in after-hours trading on Tuesday.

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/2019/10/levi-strauss-earnings-move-stock/.

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