Caleres Q1 EPS Tops Estimates; Reiterates FY23 Adj. EPS Outlook
(RTTNews) - Footwear brand Caleres Inc. (CAL) reported Thursday that net earnings for the first quarter decreased to $34.73 million or $0.97 per share from $50.51 million or $1.32 per share in the prior-year quarter.
Net sales for the quarter declined 9.8 percent to $662.73 million from $735.12 million in the same quarter last year.
On average, four analysts polled by Thomson Reuters expected the company to report earnings of $0.93 per share on net sales of $699.98 million for the quarter. Analysts' estimates typically exclude special items.
Looking ahead to the second quarter, the company now expects earnings in a range of $0.79 to $0.84 per share and adjusted earnings in a range of $0.87 to $0.92 per share on consolidated net sales decline of 4 to 5 percent from last year. Analysts expect earnings of $1.18 per share on sales of $745.46 million for the quarter.
For fiscal 2023, the company continues to project earnings in a range of $4.02 to $4.22 per share and adjusted earnings in a range of $4.10 to $4.30 per share on consolidated net sales decline of 3 to 5 percent from last year.
Previously, the company expected earnings in a range of $4.02 to $4.22 per share and adjusted earnings in a range of $4.10 to $4.30 per share on consolidated net sales to be flat to up 2 percent from last year.
The Street is looking for earnings of $4.17 per share on sales of $2.98 billion for the year.
The Caleres board of directors also recently approved its next quarterly dividend, which will be paid on June 28, 2023, to shareholders of record as of June 9, 2023.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com
Caleres Q1 Results Miss Estimates; Reiterates FY24 Outlook
Caleres Reiterates Q3, FY23 Outlook
Caleres Boosts FY22 Outlook
Hong Kong Production, PPI Data Due On Monday
U.S. Dollar Ticks Higher Amid Inflation Data Release, Expectations Of Reopening Of Strait Of Hormuz
TSX Climbs On Tech Rally, Looks Set To End 6-day Losing Streak
Swiss Market Ends Modestly Higher
