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Deckers beats quarterly earnings expectations but shares slide on revenue view
Deckers reported record first-quarter revenue of $1.02 billion and raised full-year adjusted EPS guidance, but it kept full-year revenue guidance unchanged, leaving the midpoint below Wall Street consensus.
Deckers Brands (NYSE:DECK) reported first-quarter results that beat earnings expectations, but its shares fell 3.5% in premarket trading as investors focused on a cautious full-year revenue outlook, according to Yahoo Finance. The company said it generated more than $1 billion in first-quarter revenue for the first time in its history, reaching $1.02 billion. Adjusted earnings were $0.94 per share versus the $0.87 consensus estimate. Revenue grew 5.7% year-on-year, supported by international markets and direct-to-consumer sales. The company’s DTC revenue rose 13.0% to $352.8 million, while overseas sales increased 8.4% to $502.1 million, outpacing domestic growth of 3.2%.
Deckers also reported gross margin improvement of 60 basis points to 56.4% and highlighted brand performance, with HOKA net sales rising 7.7% to $703.5 million and UGG increasing 4.9% to $278.0 million. While it raised its full-year adjusted EPS outlook to $7.35 to $7.50, it left full-year revenue guidance unchanged at $5.86 billion to $5.91 billion, with the midpoint slightly below analysts’ consensus estimate of $5.91 billion.