PVH: Fiscal 3Q Earnings Snapshot
NEW YORK (AP) _ PVH Corp. (PVH) on Monday reported fiscal third-quarter earnings of $209.2 million.
The New York-based company said it had net income of $2.82 per share. Earnings, adjusted for costs related to mergers and acquisitions and pretax expenses, were $3.10 per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $3 per share.
The owner of the Calvin Klein and Tommy Hilfiger brands posted revenue of $2.59 billion in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $2.55 billion.
For the current quarter ending in January, PVH expects its per-share earnings to range from $1.77 to $1.79. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.84.
The company expects full-year earnings in the range of $9.43 to $9.45 per share.
PVH shares have increased 8% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 25%. In the final minutes of trading on Monday, shares hit $100.58, a fall of nearly 9% in the last 12 months.