Tapestry (NYSE:TPR) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$1.48b (down 1.8% from 3Q 2023).

• Net income: US$139.4m (down 25% from 3Q 2023).

• Profit margin: 9.4% (down from 12% in 3Q 2023). The decrease in margin was primarily driven by lower revenue.

• EPS: US$0.61 (down from US$0.80 in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Tapestry Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 1.0%. Earnings per share (EPS) also missed analyst estimates by 5.9%.

Looking ahead, revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Luxury industry in the US.

Performance of the American Luxury industry.

The company's shares are up 4.1% from a week ago.

Valuation

Our analysis of Tapestry based on 6 different valuation metrics shows it might be undervalued. Click here to view our comprehensive analysis and gain insights into the stock's investment prospects.

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