Steven Madden Reports Q2 Earnings Above Estimates; Reiterates FY22 Outlook

  • Steven Madden Ltd SHOO reported second-quarter FY22 sales growth of 34.5% year-on-year to $535 million, beating the consensus of $487.68 million.
  • Revenue for the wholesale business increased 51.5% to $397.1 million, and Direct-to-consumer revenue rose 2.2% to $135.5 million.
  • The gross profit margin contracted 200 basis points Y/Y to 40.7%.
  • The operating margin was 12.2%, and operating income for the quarter was $65.2 million.
  • Adjusted EPS of $0.63 beat the analyst consensus of $0.60.
  • Steven Madden held $180.5 million in cash and equivalents as of June 30, 2022. Cash provided by operating activities for the six months totaled $40.3 million.
  • The company's Board approved a quarterly cash dividend of $0.21 per share, payable on September 26, 2022, to stockholders of record on September 16, 2022.
  • Outlook, reiterated: Steven Madden sees FY22 adjusted EPS of $2.90 - $3.00 versus the consensus of $2.98.
  • The company expects FY22 revenue to increase 13% - 16%.
  • Price Action: SHOO shares are trading lower by 3.94% at $32.17 on the last check Wednesday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceDividendsMoversTrading IdeasBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!