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Skechers (SKX) Stock Gains on Record Q1 Earnings and Revenue Results

Skechers USA, Inc. SKX just released its first quarter 2016 earnings results, posting earnings of $0.63 per share and revenue of $978.8 million.

Currently, SKX has a Zacks Rank #3 (Hold), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.

Skechers:                                                

1. Beat earnings estimates. The company posted earnings of $0.63 per share, topping our Zacks Consensus Estimate of $0.53.

2. Beat revenue estimates. The company saw revenue figures of $978.8 million, surpassing our consensus estimate of $890 million and reflecting a year-over-year increase of 27.4%.

3. Reported net income of 97.6 million and Earnings from Operations of $138.6 Million.

4. Saw gross profit for the first quarter of $432.2 million, or 44.2% of net sales, compared to $332.5 million, or 43.3% of net sales in the first quarter of 2015. 

5. SKX was up $1.78, or 5.78%, to $32.58 as of 4:15 PM ET in after-hours trading shortly after its earnings report was released.

Here’s a graph that looks at Skechers’ Street Actual & Estimate EPS:

Skechers designs and markets branded contemporary casual, active, rugged and lifestyle footwear for men, women and children. The company sells its products to department stores such as Nordstrom, Macy's, Dillard’s, Robinson's-May, JCPenney, and other specialty retailers.

Check back later for our full analysis onSkechers’ first quarter earnings report!

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SKECHERS USA-A (SKX): Free Stock Analysis Report
 
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