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Levi Strauss beat Q3 earnings estimates

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Miguel A. Rodriguez
Miguel A. Rodriguez
07 October 2021
One of the globally known brand-name apparels topped Q3 2021 earnings and sales expectations

Levi Strauss revealed an adjusted EPS of $0.48 on revenues of $1.5 billion. Earnings per share rose significantly from the $0.08 reported in the year-ago quarter. At the same time, compared to last year’s figures, revenue increased 41%. Both figures came ahead of the 38 cents earnings-per-share and $1.48 billion revenue expected.   

The figures were positive, despite the recent setbacks reported in Asia, where the revenue was down 23% due to store closures under COVID-19 lockdowns.

Moreover, Levi announced a $200 million stock buyback program and a $400 million acquisition of yoga apparel brand Beyond Yoga. This way, the first expands its business in the activewear market. According to CFO Harmit Singh, Beyond Yoga will add $100 million in revenue. 

For Q4, Levi sees revenue surging 21% to $1.68 billion and an adjusted EPS of 40 cents, raising the full-year outlook to a high of $1.45 earnings per share.

During pre-market trading, Levi stock price was up 4.66%.

Source: finance.yahoo.com, marketwatch.com

This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.