PVH (NYSE:PVH) earnings for fiscal fourth quarter of 2019 have PVH stock soaring after-hours Wednesday. This comes after reporting adjusted earnings per share (EPS) of $1.88. That’s better than Wall Street’s estimate of $1.81 per share. The clothing company’s revenue of $2.6 billion also comes in higher than analysts’ estimates of $2.5 billion.
Here’s what else is worth mentioning from the most recent PVH earnings report.
- Adjusted per-share earnings are up 2.17% from $1.84 during the same time last year.
- Revenue for the quarter comes in 4.84% higher than the $2.48 billion in the fiscal fourth quarter of 2018.
- PVH’s earnings also includes a net loss of $68.5 million.
- That’s a negative switch compared to the company’s net income of $158.4 million from the same period of the year prior.
Emanuel Chirico, chairman and CEO of PVH, said this in the PVH earnings report:
“I believe that we are in a solid financial position to navigate the COVID-19 outbreak and this period of unprecedented volatility. Our balance sheet has always been one of our core strengths and we have over $1 billion in cash and available borrowings. We also are taking a hard look at all of our discretionary spending, payroll and salary reductions, capital expenditures and inventory management with a firm focus on managing our cash flow and preserving our cash position and financial standing.”
The PVH earnings report doesn’t include guidance for the fiscal first quarter of 2020. The company says this is due to the novel coronavirus. However, it does note that it expects a negative impact on its business.
PVH stock was up 4.66% after markets closed on Wednesday.
As of this writing, William White did not hold a position in any of the aforementioned securities.