$LEVI (+0,01 %) | 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