Steve Madden Q3 Earnings Top Estimates As Revenue Jumps 13%, Lifts 2024 Outlook

Steve Madden第三季度收益超出預期，營業收入增長13%，提升2024年展望

Benzinga · 11/07 23:18

Steven Madden, Ltd. (NASDAQ:SHOO) shares are trading lower on Thursday. The company reported third-quarter adjusted EPS of 91 cents, beating the Wall Street View of 89 cents.

Quarterly revenues of $624.7 million surpassed the analyst consensus of $607.9 million. Revenue increased 13.0% year over year.

Direct-to-consumer revenue was $125.5 million, a 7.8% increase year over year. Revenue for the wholesale business was $495.7 million, a 14.4% increase year over year.

Gross profit as a percentage of revenue was 41.5% compared to 42.1% in the same period of 2022. Adjusted operating expenses as a percentage of revenue were 27.9% compared to 27.0% in the same period of 2022.

The company ended the quarter with 282 company-operated brick-and-mortar retail stores and five e-commerce websites, as well as 67 company-operated concessions in international markets.

As of Sept. 30, cash and equivalents and short-term investments totaled $150.5 million. Inventory totaled $268.7 million as of the same date.

Dividend: The company approved a quarterly cash dividend of 21 cents per share. The dividend is payable on Dec. 27, to stockholders of record on Dec. 13.

Buyback: The company repurchased shares worth $20.2 million, which includes shares acquired through the net settlement of employees' stock awards.

Outlook: Steve Madden raised its FY24 revenue guidance to a 13%-14% increase (up from 11%-13%) and now expects adjusted EPS to be in the range of $2.62-$2.67, up from the prior range of $2.55-$2.65. The consensus estimate for adjusted EPS is $2.64.

Edward Rosenfeld, chairman and chief executive officer, said, "This performance was driven by outstanding growth in the accessories and apparel categories – including another quarter of exceptional performance in Steve Madden handbags and a strong contribution from newly acquired Almost Famous – and robust top line gains in international markets and direct-to-consumer channels, demonstrating our team's strong execution of our key strategic initiatives."

Price Action: SHOO shares are up 1.1% at $44.75 at last check Thursday.

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Photo via Wikimedia Commons

Steven Madden, Ltd. (NASDAQ:SHOO) shares are trading lower on Thursday. The company reported third-quarter adjusted EPS of 91 cents, beating the Wall Street View of 89 cents.

史蒂夫·麥登有限公司（納斯達克股票代碼：SHOO）週四股價下跌。該公司報告調整後的第三季度每股收益爲91美分，超過了華爾街預期的89美分。

Quarterly revenues of $624.7 million surpassed the analyst consensus of $607.9 million. Revenue increased 13.0% year over year.

季度營業收入爲62470萬美元，超過分析師一致預期的60790萬美元。營業收入同比增長13.0%。

Direct-to-consumer revenue was $125.5 million, a 7.8% increase year over year. Revenue for the wholesale business was $495.7 million, a 14.4% increase year over year.

直接面向消費者的營業收入爲12550萬美元，同比增長7.8%。批發業務的營業收入爲49570萬美元，同比增長14.4%。

Gross profit as a percentage of revenue was 41.5% compared to 42.1% in the same period of 2022. Adjusted operating expenses as a percentage of revenue were 27.9% compared to 27.0% in the same period of 2022.

毛利潤佔營業收入的比例爲41.5%，與2022年同期的42.1%相比下降。調整後的營業費用佔營業收入的比例爲27.9%，較2022年同期的27.0%有所增加。

The company ended the quarter with 282 company-operated brick-and-mortar retail stores and five e-commerce websites, as well as 67 company-operated concessions in international markets.

該公司季末擁有282家公司自營的實體零售店和五家電子商務網站，以及在國際市場擁有67家公司自營的專櫃。

As of Sept. 30, cash and equivalents and short-term investments totaled $150.5 million. Inventory totaled $268.7 million as of the same date.

截至9月30日，現金及等價物以及短期投資總額爲15050萬美元。庫存截至同一日期總額爲26870萬美元。

Dividend: The company approved a quarterly cash dividend of 21 cents per share. The dividend is payable on Dec. 27, to stockholders of record on Dec. 13.

股息：公司批准每股21美分的季度現金股利。該股息將於12月27日支付給12月13日持股人。

Buyback: The company repurchased shares worth $20.2 million, which includes shares acquired through the net settlement of employees' stock awards.

回購：公司回購價值2020萬美元的股票，其中包括通過員工股票獎勵的淨結算收購的股份。

Outlook: Steve Madden raised its FY24 revenue guidance to a 13%-14% increase (up from 11%-13%) and now expects adjusted EPS to be in the range of $2.62-$2.67, up from the prior range of $2.55-$2.65. The consensus estimate for adjusted EPS is $2.64.

展望: Steve Madden將其FY24營業收入指引上調至13%-14%的增長(之前爲11%-13%)，現預計調整後的每股收益範圍爲$2.62至$2.67，高於先前的$2.55至$2.65的範圍。調整後的每股收益的共識估計爲$2.64。

Edward Rosenfeld, chairman and chief executive officer, said, "This performance was driven by outstanding growth in the accessories and apparel categories – including another quarter of exceptional performance in Steve Madden handbags and a strong contribution from newly acquired Almost Famous – and robust top line gains in international markets and direct-to-consumer channels, demonstrating our team's strong execution of our key strategic initiatives."

Edward Rosenfeld，董事長兼首席執行官，表示:"這一業績是由配飾和服裝類別的卓越增長推動的—包括Steve Madden手袋再次表現出色的季度和新收購的Almost Famous的強勁貢獻—以及在國際市場和直銷渠道的強勁收入增長，展示了我們團隊對關鍵戰略舉措的強大執行能力"。

Price Action: SHOO shares are up 1.1% at $44.75 at last check Thursday.

股價走勢: SHOO股票在上週四最新交易時上漲1.1%，報$44.75。

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