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Skechers: 2Q Earnings Snapshot

July 18, 2019

MANHATTAN BEACH, Calif. (AP) _ Skechers USA Inc. (SKX) on Thursday reported second-quarter profit of $75.2 million.

The Manhattan Beach, California-based company said it had profit of 49 cents per share.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 33 cents per share.

The shoe company posted revenue of $1.26 billion in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $1.22 billion.

For the current quarter ending in October, Skechers expects its per-share earnings to range from 65 cents to 70 cents.

The company said it expects revenue in the range of $1.33 billion to $1.35 billion for the fiscal third quarter.

Skechers shares have climbed 52% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $34.73, a rise of slightly more than 6% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SKX at https://www.zacks.com/ap/SKX

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