Fashion conglomerate PVH (NYSE: PVH) will be announcing earnings results this Wednesday after market close. Here’s what you need to know.
PVH beat analysts’ revenue expectations by 2.3% last quarter, reporting revenues of $2.17 billion, up 4.5% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ adjusted operating income estimates and a beat of analysts’ EPS estimates.
Is PVH a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting PVH’s revenue to grow 1.3% year on year to $2.28 billion, a reversal from the 4.6% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.54 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. PVH has missed Wall Street’s revenue estimates twice over the last two years.
Looking at PVH’s peers in the apparel and accessories segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Figs delivered year-on-year revenue growth of 8.2%, beating analysts’ expectations by 6.4%, and ThredUp reported revenues up 33.6%, topping estimates by 5.9%. Figs traded up 13.7% following the results while ThredUp was down 7.5%.
Read our full analysis of Figs’s results here and ThredUp’s results here.
There has been positive sentiment among investors in the apparel and accessories segment, with share prices up 3.5% on average over the last month. PVH is up 11.2% during the same time and is heading into earnings with an average analyst price target of $96.71 (compared to the current share price of $84.88).
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