Sep. 10 at 4:23 PM
$DECK Lerts get back to basics..Deckers Outdoor Corporation (NYSE: DECK), the parent company of UGG and HOKA, has shared encouraging financial results and raised its full-year outlook. .Strong Q1 Earnings and GuidanceRecord Q1 Sales: Net sales reached
$1.02 billion, marking the company's first-ever billion-dollar first quarter.Earnings Beat: Diluted earnings per share came in at
$0.94, beating the Wall Street consensus estimate of
$0.88.RAISED Guidance: Management increased full-year earnings guidance to a range of
$7.35 to
$7.50 per share. [1] Solid Balance Sheet and BuybacksCash Position: Deckers finished the quarter with
$1.60 billion in cash and no outstanding debt.Lower Inventories: Inventories dropped by 4.9% year-over-year to
$807.6 million, showing a cleaner operating foundation.Share Repurchases: The company bought back 3.3 million shares for
$338.2 million, leaving about
$4.7 billion under its current repurchase authorization.
