HighGravityDataPVH — Dec 4, 2024 release
Fiscal 2025 third-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0000078239-24-000083
Showing in the filing
Operating margin (Non-GAAP basis)
“approximately flat compared to 10.1% in 2023”
Period
FY2024
Measure
Company-defined measure
Source
Prose
All guidance in this release · 23
Operating margin (Non-GAAP basis) for FY2024
“approximately flat compared to 10.1% in 2023”
Common stock repurchases under the stock rep… for FY2024
“approximately $400 million”
Stock repurchases for FY2024
“approximately $400 million”
Revenue for FY2024
“decrease of 6% to 7% compared to 2023 (decrease 6% to 7% on a constant currency basis)”
Operating margin, GAAP basis for FY2024
“approximately 9.2%”
EPS, GAAP basis for FY2024
“$10.55 to $10.70”
EPS, Non-GAAP basis for FY2024
“$11.55 to $11.70”
Interest expense for FY2024
“approximately $68 million”
Revenue for Q4 FY2024
“decrease 6% to 7% compared to the fourth quarter of 2023 (decrease 4% to 5% on a constant currency basis)”
EPS, GAAP basis for Q4 FY2024
“$2.83 to $2.98”
EPS, Non-GAAP basis for Q4 FY2024
“$3.05 to $3.20”
Interest expense for Q4 FY2024
“approximately $15 million”
Effective tax rate for Q4 FY2024
“approximately 20%”
GAAP net income per common share for FY2024
“$10.55 to $10.70”
GAAP net income per common share for Q4 FY2024
“$2.83 to $2.98”
Net income per common share on a non-GAAP ba… for FY2024
“$11.55 to $11.70”
Net income per common share on a non-GAAP ba… for Q4 FY2024
“$3.05 to $3.20”
Effective tax rate (GAAP basis) for FY2024
“approximately 15%”
Effective tax rate (Non-GAAP basis) for FY2024
“approximately 16%”
Operating margin on a Non-GAAP basis for FY2024
“Approximately 10.1%”
GAAP revenue decrease for Q4 FY2024
“(6)% to (7)%”
Non-GAAP revenue decrease on a constant curr… for FY2024
“(6)% to (7)%”
Non-GAAP revenue decrease on a constant curr… for Q4 FY2024
“(4)% to (5)%”
Exhibit 99.1 · the passage around this item
… earlier in the release
REPORTS 2024 THIRD QUARTER REVENUE AND EARNINGS ABOVE GUIDANCE • Third quarter ◦ Revenue: Decreased 5% to $2.255 billion compared to the prior year period (decreased 6% on a constant currency basis), and exceeded guidance of a decrease of 6% to 7% (decrease of 7% to 8% on a constant currency basis) ◦ EPS: ▪ GAAP basis: $2.34 exceeded guidance of approximately $2.30 ▪ Non-GAAP basis: $3.03 exceeded guidance of approximately $2.50 • Full year outlook ◦ Revenue: Reaffirms projected decrease of 6% to 7% (decrease 6% to 7% on a constant currency basis ) ◦ Operating margin: ▪ GAAP basis: Projected to be approximately 9.2% compared to approximately 9.8% previously ▪ Non-GAAP basis: Reaffirms outlook of approximately flat compared to 10.1% in 2023 ◦ EPS: ▪ GAAP basis: Projected to be in a range of $10.55 to $10.70 compared to $11.20 to $11.45 previously ▪ Non-GAAP basis: Projected to be in a range of $11.55 to $11.70 compared to $11.55 to $11.80 previously ▪ Updated EPS guidance includes negative impact of approximately $0.15 per share related to foreign currency translation compared to approximately $0.05 previously New York - December 4, 2024 - PVH Corp. [NYSE: PVH] today reported its 2024 third quarter results and updated its full year EPS outlook. Stefan Larsson, Chief Executive Officer, commented, “We beat our top- and bottom-line guidance for the third quarter, fueled by our relentless execution of the PVH+ Plan. Throughout the quarter, we drove powerful consumer engagement for both Calvin Klein and TOMMY HILFIGER , and continued to build momentum in product, with significantly improved sell-throughs for the Fall 24 season across all regions and both our iconic brands, and we are coming into the holiday season with a fresh and strong inventory composition.” Larsson continued, “We are building systematic and repeatable progress across the business, where we increasingly connect product strength, consumer engagement, an
later in the release …
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other guidance in this release
Text is the filed exhibit, verbatim.