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Deckers (DECK) Lined Up for Q2 Earnings: What's in Store?
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Deckers Outdoor Corporation (DECK - Free Report) is likely to register an increase in the top line when it reports second-quarter fiscal 2023 earnings results on Oct 27 after market close. The Zacks Consensus Estimate for revenues is pegged at $808.3 million, indicating an improvement of 12% from the prior-year reported figure.
The bottom line of this designer, marketer and distributor of footwear, apparel and accessories is expected to decline year over year. Although the Zacks Consensus Estimate for second-quarter earnings per share has risen 1.4% to $3.63 over the past 30 days, it suggests a decline from the $3.66 per share reported in the year-ago period.
Deckers has a trailing four-quarter earnings surprise of 27.8%, on average. In the last reported quarter, this Goleta, CA-based company’s bottom line outperformed the Zacks Consensus Estimate by a margin of 24.8%.
Key Factors to Note
Deckers’ second-quarter performance is likely to have benefited from the acceleration of omnichannel capabilities, a customer-centric approach and marketing strategies. The company’s focus on expanding brand assortments, introducing an innovative line of products and enhancing the direct-to-consumer business might have acted as tailwinds. Additionally, strategic price increases of products might have supported the top line in the quarter under review.
Keeping pace with changing trends, Deckers has constantly been developing its e-commerce portal to capture incremental sales. The company has been making substantial investments to strengthen its online presence and enhance the shopping experience. Management is focused on ramping up the inventory in response to supply-chain bottlenecks, optimizing the channel mix to fulfill consumer demand and scaling production to support the growth of brands.
We note that the Zacks Consensus Estimate for second-quarter sales at the HOKA ONE ONE brand is pegged at $290 million, suggesting an increase of 37.8% year over year. The consensus estimate for the Teva brand currently stands at $29 million, almost flat with the year-ago period.
The consensus estimate for sales at the UGG brand is pegged at $448 million, even with the prior-year quarter. The consensus mark for sales at the Sanuk brand stands at $10.1 million, flat with the prior-year quarter. Other brands, primarily composed of Koolaburra, are expected to increase 9.9% to $26.6 million.
While the aforementioned factors raise optimism, higher freight costs, labor shortages, strengthening of the U.S. dollar and geopolitical tensions are some of the headwinds Deckers might have encountered.
Deckers Outdoor Corporation Price, Consensus and EPS Surprise
Our proven model doesn’t conclusively predict an earnings beat for Deckers this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. However, that’s not the case here. You can see the complete list of today’s Zacks #1 Rank stocks here.
Although Deckers currently has a Zacks Rank #3, its Earnings ESP of -5.56% makes a surprise prediction difficult. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks Poised to Beat Earnings Estimates
Here are some companies worth considering as our model shows that these have the right combination of elements to beat earnings this season:
Home Depot (HD - Free Report) currently has an Earnings ESP of +0.51% and a Zacks Rank of 2. The company is likely to register an increase in the bottom line when it reports third-quarter fiscal 2022 numbers. The Zacks Consensus Estimate for quarterly earnings per share of $4.11 suggests an increase of 4.9% from the year-ago reported number.
Home Depot's top line is expected to increase year over year. The Zacks Consensus Estimate for quarterly revenues is pegged at $37.9 billion, which suggests an increase of 2.9% from the prior-year quarter. HD has a trailing four-quarter earnings surprise of 7.2%, on average.
Costco (COST - Free Report) currently has an Earnings ESP of +0.53% and a Zacks Rank #3. The company is expected to register bottom-line growth when it reports first-quarter fiscal 2023 results. The Zacks Consensus Estimate for quarterly earnings per share of $3.15 suggests an increase of 6.1% from the year-ago quarter.
Costco's top line is anticipated to rise year over year. The consensus mark for revenues is pegged at $54.98 billion, indicating an increase of 9.2% from the figure reported in the year-ago quarter. COST has a trailing four-quarter earnings surprise of 7.7%, on average.
Foot Locker (FL - Free Report) currently has an Earnings ESP of +16.94% and a Zacks Rank #3. The company is likely to register a bottom-line decline when it reports third-quarter fiscal 2022 numbers. The Zacks Consensus Estimate for quarterly earnings per share of $1.10 suggests a decline from the $1.93 reported in the year-ago quarter.
Foot Locker's top line is expected to decline year over year. The Zacks Consensus Estimate for quarterly revenues is pegged at $2.10 billion, which indicates a decline of 3.9% from the figure reported in the prior-year quarter. Foot Locker has a trailing four-quarter earnings surprise of 28.6%, on average.
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Deckers (DECK) Lined Up for Q2 Earnings: What's in Store?
Deckers Outdoor Corporation (DECK - Free Report) is likely to register an increase in the top line when it reports second-quarter fiscal 2023 earnings results on Oct 27 after market close. The Zacks Consensus Estimate for revenues is pegged at $808.3 million, indicating an improvement of 12% from the prior-year reported figure.
The bottom line of this designer, marketer and distributor of footwear, apparel and accessories is expected to decline year over year. Although the Zacks Consensus Estimate for second-quarter earnings per share has risen 1.4% to $3.63 over the past 30 days, it suggests a decline from the $3.66 per share reported in the year-ago period.
Deckers has a trailing four-quarter earnings surprise of 27.8%, on average. In the last reported quarter, this Goleta, CA-based company’s bottom line outperformed the Zacks Consensus Estimate by a margin of 24.8%.
Key Factors to Note
Deckers’ second-quarter performance is likely to have benefited from the acceleration of omnichannel capabilities, a customer-centric approach and marketing strategies. The company’s focus on expanding brand assortments, introducing an innovative line of products and enhancing the direct-to-consumer business might have acted as tailwinds. Additionally, strategic price increases of products might have supported the top line in the quarter under review.
Keeping pace with changing trends, Deckers has constantly been developing its e-commerce portal to capture incremental sales. The company has been making substantial investments to strengthen its online presence and enhance the shopping experience. Management is focused on ramping up the inventory in response to supply-chain bottlenecks, optimizing the channel mix to fulfill consumer demand and scaling production to support the growth of brands.
We note that the Zacks Consensus Estimate for second-quarter sales at the HOKA ONE ONE brand is pegged at $290 million, suggesting an increase of 37.8% year over year. The consensus estimate for the Teva brand currently stands at $29 million, almost flat with the year-ago period.
The consensus estimate for sales at the UGG brand is pegged at $448 million, even with the prior-year quarter. The consensus mark for sales at the Sanuk brand stands at $10.1 million, flat with the prior-year quarter. Other brands, primarily composed of Koolaburra, are expected to increase 9.9% to $26.6 million.
While the aforementioned factors raise optimism, higher freight costs, labor shortages, strengthening of the U.S. dollar and geopolitical tensions are some of the headwinds Deckers might have encountered.
Deckers Outdoor Corporation Price, Consensus and EPS Surprise
Deckers Outdoor Corporation price-consensus-eps-surprise-chart | Deckers Outdoor Corporation Quote
What the Zacks Model Unveils
Our proven model doesn’t conclusively predict an earnings beat for Deckers this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. However, that’s not the case here. You can see the complete list of today’s Zacks #1 Rank stocks here.
Although Deckers currently has a Zacks Rank #3, its Earnings ESP of -5.56% makes a surprise prediction difficult. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks Poised to Beat Earnings Estimates
Here are some companies worth considering as our model shows that these have the right combination of elements to beat earnings this season:
Home Depot (HD - Free Report) currently has an Earnings ESP of +0.51% and a Zacks Rank of 2. The company is likely to register an increase in the bottom line when it reports third-quarter fiscal 2022 numbers. The Zacks Consensus Estimate for quarterly earnings per share of $4.11 suggests an increase of 4.9% from the year-ago reported number.
Home Depot's top line is expected to increase year over year. The Zacks Consensus Estimate for quarterly revenues is pegged at $37.9 billion, which suggests an increase of 2.9% from the prior-year quarter. HD has a trailing four-quarter earnings surprise of 7.2%, on average.
Costco (COST - Free Report) currently has an Earnings ESP of +0.53% and a Zacks Rank #3. The company is expected to register bottom-line growth when it reports first-quarter fiscal 2023 results. The Zacks Consensus Estimate for quarterly earnings per share of $3.15 suggests an increase of 6.1% from the year-ago quarter.
Costco's top line is anticipated to rise year over year. The consensus mark for revenues is pegged at $54.98 billion, indicating an increase of 9.2% from the figure reported in the year-ago quarter. COST has a trailing four-quarter earnings surprise of 7.7%, on average.
Foot Locker (FL - Free Report) currently has an Earnings ESP of +16.94% and a Zacks Rank #3. The company is likely to register a bottom-line decline when it reports third-quarter fiscal 2022 numbers. The Zacks Consensus Estimate for quarterly earnings per share of $1.10 suggests a decline from the $1.93 reported in the year-ago quarter.
Foot Locker's top line is expected to decline year over year. The Zacks Consensus Estimate for quarterly revenues is pegged at $2.10 billion, which indicates a decline of 3.9% from the figure reported in the prior-year quarter. Foot Locker has a trailing four-quarter earnings surprise of 28.6%, on average.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.