$LEVI (+1.93%) | Levi Strauss Q3 '24 Earnings Highlights:

🔹 EPS: $0.33 (Est. $0.31) 🟢; UP +18% YoY

🔹 Revenue: $1.50B (Est. $1.55B) 🔴; FLAT YoY

FY24 Guidance:

🔹 Revenue Growth: Now expected +1% (vs. prior +1-3%) 🔴

🔹 Adj Diluted EPS: Reaffirmed at $1.17 to $1.27

Key Metrics:

🔹 Gross Margin: 60.0% (UP +440 basis points YoY)

🔹 Net Income: $21M (UP +116% YoY)

🔹 Adjusted Net Income: $132M (UP +18% YoY)

🔹 Operating Margin: 2.0% (vs. 2.3% in Q3 2023)

🔹 Adjusted EBIT Margin: 11.6% (UP +250 basis points YoY)

Segment Performance:

🔹 Americas: $757M (DOWN -1% YoY)

🔹 Europe: $407M (UP +6% YoY)

🔹 Asia: $247M (FLAT YoY; UP +4% in constant currency)

🔹 Other Brands: $106M (DOWN -7% YoY)

Channel Performance:

🔹 DTC (Direct-to-Consumer): UP +10% YoY; UP +12% in constant currency

🔹 Wholesale: DOWN -6% YoY

Strategic Update:

🔸 Company announced a strategic review of the Dockers® brand, exploring potential sale or other strategic alternatives.

CEO Commentary:

🔸 "We are making progress in key areas, including double-digit growth in our direct-to-consumer business and improved performance in Europe." – Michelle Gass, CEO

CFO Commentary:

🔸 "We delivered significant margin expansion and EPS growth, and we expect sequential improvement into Q4." – Harmit Singh, CFO