Fashion conglomerate PVH (NYSE: PVH) will be announcing earnings results this Tuesday afternoon. Here’s what investors should know.
PVH beat analysts’ revenue expectations by 2.6% last quarter, reporting revenues of $1.98 billion, up 1.6% year on year. It was a slower quarter for the company, with full-year EPS guidance missing analysts’ expectations significantly and a significant miss of analysts’ EBITDA estimates.
Is PVH a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting PVH’s revenue to grow 2.1% year on year to $2.12 billion, a reversal from the 6% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.00 per share.
Heading into earnings, analysts covering the company have grown increasingly bullish with revenue estimates seeing 4 upward revisions over the last 30 days (we track 11 analysts). PVH has missed Wall Street’s revenue estimates twice over the last two years.
Looking at PVH’s peers in the apparel and accessories segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Figs delivered year-on-year revenue growth of 5.8%, beating analysts’ expectations by 5.5%, and Kontoor Brands reported revenues up 8.5%, topping estimates by 3.7%. Figs traded down 5.3% following the results while Kontoor Brands was up 19.1%.
Read our full analysis of Figs’s results here and Kontoor Brands’s results here.
There has been positive sentiment among investors in the apparel and accessories segment, with share prices up 5.3% on average over the last month. PVH is up 4% during the same time and is heading into earnings with an average analyst price target of $91.21 (compared to the current share price of $79.99).
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