Companies and Brands
What to Expect When Levi Strauss Reports After the Close
Published:
Last Updated:
Levi Strauss & Co. (NYSE: LEVI) is scheduled to release its third-quarter financial results after the markets close on Tuesday. The consensus estimates are calling for $0.28 in earnings per share (EPS) and $1.44 billion in revenue.
During the second quarter, net revenues grew 5% on a reported basis and 9% on a constant-currency basis.
At that time, the company’s direct-to-consumer business grew reported revenues by 9%, primarily due to performance and expansion of the retail network and e-commerce growth. The company had 78 more company-operated stores at the end of the second quarter of 2019 than it did a year prior. The company’s wholesale business grew reported revenues by 3%, reflecting growth in all the regions.
Second-quarter net income decreased $49 million, primarily due to $29 million of costs associated with the company’s IPO, inclusive of $25 million of underwriting commissions paid on behalf of the selling stockholders.
Excluding Tuesday’s move, Levi had underperformed the broad markets, with the stock down about 12% year to date. In the past quarter, the stock was down 16%.
A few analysts weighed in on Levi ahead of the report:
Shares of Levi Strauss traded down less than 1% to $19.67 on Tuesday, in a post-IPO range of $16.00 to $24.50. The consensus price target is $22.86.
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.