Steven Madden Stock Gains On Strong Q2 Earnings Beat, Better Than Expected FY21 Guidance

Steven Madden Ltd SHOO reported second-quarter FY21 total revenue growth of 179% year-on-year, to $397.90 million and net sales of $394.8 million, beating the analyst consensus of $371.69 million.
Revenue for the wholesale business grew 162% Y/Y to $262.1 million, and retail revenue rose 220.6% to $132.7 million.
Gross margin expanded 360 basis points to 42.7%, and gross profit rose 204% Y/Y to $170.1 million.
Operating expenses increased 55.4% Y/Y to $121.9 million. The operating margin was 11.9%, with $47.7 million in operating income.
The company held $262.1 million in cash and equivalents as of June 30, 2021.
Net cash provided by operating activities for the six months ended June 30, 2021, rose 58.8% to $91.9 million.
EPS of $0.48 beat the analyst consensus of $0.30.
The company’s quarterly cash dividend of $0.15 per share is payable on September 27, 2021, to stockholders of record on September 17, 2021.
Outlook: Steven Madden expects FY21 revenue growth of 43% - 47%. It sees FY21 adjusted EPS of $2.00 - $2.10 versus the consensus of $1.71.
Price action: SHOO shares are trading higher by 1.57% at $44.05 in premarket on the last check Wednesday.
Photo by Adriano Gadini from Pixabay

Momentum8.82

Growth55.87

Quality20.86

Value83.77

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