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Skechers (SKX) Reports Q2 Earnings: What Key Metrics Have to Say
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Skechers (SKX - Free Report) reported $2.01 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 7.8%. EPS of $0.98 for the same period compares to $0.58 a year ago.
The reported revenue represents a surprise of +5.47% over the Zacks Consensus Estimate of $1.91 billion. With the consensus EPS estimate being $0.52, the EPS surprise was +88.46%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Skechers performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Geographic Revenue- Asia Pacific: $552.20 million versus $504.86 million estimated by three analysts on average.
Geographic Revenue- Europe, Middle East & Africa: $433.30 million compared to the $424.49 million average estimate based on three analysts.
Geographic Revenue- Americas: $1.03 billion compared to the $963.39 million average estimate based on three analysts.
Net Sales- Direct-to-consumer: $939.50 million compared to the $798.56 million average estimate based on five analysts. The reported number represents a change of +29.1% year over year.
Net sales- Domestic- Wholesale: $390.80 million versus the five-analyst average estimate of $1.09 billion. The reported number represents a year-over-year change of -25%.
Net sales- International Direct-to-consumer: $528.40 million versus the three-analyst average estimate of $436.69 million.
Net sales- Domestic Direct-to-consumer: $411.10 million versus the three-analyst average estimate of $357.18 million.
Net sales- International- Wholesale: $682.20 million compared to the $692.42 million average estimate based on two analysts. The reported number represents a change of +10.2% year over year.
Gross Profit- Domestic- Wholesale: $431.50 million compared to the $421.38 million average estimate based on two analysts.
Gross Profit- Direct-to-consumer: $629 million versus $523.11 million estimated by two analysts on average.
Shares of Skechers have returned +4.6% over the past month versus the Zacks S&P 500 composite's +5.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Skechers (SKX) Reports Q2 Earnings: What Key Metrics Have to Say
Skechers (SKX - Free Report) reported $2.01 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 7.8%. EPS of $0.98 for the same period compares to $0.58 a year ago.
The reported revenue represents a surprise of +5.47% over the Zacks Consensus Estimate of $1.91 billion. With the consensus EPS estimate being $0.52, the EPS surprise was +88.46%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Skechers performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Geographic Revenue- Asia Pacific: $552.20 million versus $504.86 million estimated by three analysts on average.
- Geographic Revenue- Europe, Middle East & Africa: $433.30 million compared to the $424.49 million average estimate based on three analysts.
- Geographic Revenue- Americas: $1.03 billion compared to the $963.39 million average estimate based on three analysts.
- Net Sales- Direct-to-consumer: $939.50 million compared to the $798.56 million average estimate based on five analysts. The reported number represents a change of +29.1% year over year.
- Net sales- Domestic- Wholesale: $390.80 million versus the five-analyst average estimate of $1.09 billion. The reported number represents a year-over-year change of -25%.
- Net sales- International Direct-to-consumer: $528.40 million versus the three-analyst average estimate of $436.69 million.
- Net sales- Domestic Direct-to-consumer: $411.10 million versus the three-analyst average estimate of $357.18 million.
- Net sales- International- Wholesale: $682.20 million compared to the $692.42 million average estimate based on two analysts. The reported number represents a change of +10.2% year over year.
- Gross Profit- Domestic- Wholesale: $431.50 million compared to the $421.38 million average estimate based on two analysts.
- Gross Profit- Direct-to-consumer: $629 million versus $523.11 million estimated by two analysts on average.
View all Key Company Metrics for Skechers here>>>Shares of Skechers have returned +4.6% over the past month versus the Zacks S&P 500 composite's +5.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.