Carter's Q2 Outlook: Expects Net Sales of $560M-$570M Vs. $613M Consensus; Sees Adjusted EPS of $0.35-$0.45 Vs. $0.80 Consensus

Author: Benzinga Newsdesk | April 26, 2024 06:21am

For the second quarter of fiscal 2024, the Company expects approximately:

• $560 million to $570 million in net sales ($600 million in Q2 fiscal 2023);
• $25 million to $30 million in adjusted operating income ($38 million in Q2 fiscal 2023); and
• $0.35 to $0.45 in adjusted diluted earnings per share ($0.64 in Q2 fiscal 2023).

Our forecast for the second quarter of fiscal 2024 assumes:

• Continued inflationary pressure on families with young children;
• Slow start to Spring selling, we believe due to the late arrival of warmer weather;
• Improved gross margin;
• Comparable SG&A;
• Lower net interest expense and effective tax rate; and
• Continued return of capital.

Posted In: CRI