Hoka, Ugg Parent Deckers Outdoor Reports Blockbuster Q4 Results, Stock Climbs

Author: Erica Kollmann | May 23, 2024 04:50pm

Deckers Outdoor Corp (NYSE:DECK) reported its fourth-quarter financial results after the bell Thursday. Here's a look at the highlights from the report.

The Details: Deckers Outdoor reported quarterly earnings of $4.95 per share which beat the analyst consensus estimate of $2.90 by 70.69%.

Quarterly sales clocked in at $959.758 million, beating the analyst consensus estimate of $887.548 million by 8.14% and representing a 21.25% increase over sales of $791.571 million from the same period last year.

The company said domestic net sales increased 19.4% to $647.7 and international net sales increased 25.2% to $312.0 million. Domestic net sales increased 19.4% to $647.7 million and international net sales increased 25.2% to $312.0 million.

HOKA brand net sales increased 34% to $533 million, UGG brand net sales increased 14.9% to $361.3 million, Teva brand net sales decreased 15.6% to $53.0 million and Sanuk brand net sales decreased 39.1% to $6.5 million.

“Deckers achieved record results during fiscal year 2024, as we delivered revenue growth of 18% and increased earnings per share by 51%, reflecting a continued dedication to maintain exceptional levels of profitability as our brands scale,” said CEO Dave Powers.

“HOKA and UGG remain two of the most admired and well-positioned brands in the marketplace, each with a robust innovation product pipeline designed to win with global consumers. Looking forward, our talented teams are highly motivated to continue driving towards the long-term opportunities of these iconic brands.”

Outlook: Deckers Outdoor sees fiscal year 2025 earnings of between $29.50 and $30.00 per share, versus the $30.29 estimate. The company expects net sales to increase 10% to $4.7 billion.

DECK Price Action: According to Benzinga Pro, Deckers Outdoor shares are up 8.33% after-hours at $980.00 at the time of publication Thursday.

Photo: Shutterstock

Posted In: DECK