AP NEWS

PVH: Fiscal 2Q Earnings Snapshot

August 29, 2018

NEW YORK (AP) _ PVH Corp. (PVH) on Wednesday reported fiscal second-quarter earnings of $165.2 million.

On a per-share basis, the New York-based company said it had profit of $2.12. Earnings, adjusted for non-recurring costs, were $2.18 per share.

The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.11 per share.

The owner of the Calvin Klein and Tommy Hilfiger brands posted revenue of $2.33 billion in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $2.28 billion.

For the current quarter ending in November, PVH expects its per-share earnings to range from $3.10 to $3.13. Analysts surveyed by Zacks had forecast adjusted earnings per share of $3.15.

The company expects full-year earnings in the range of $9.20 to $9.25 per share.

PVH shares have increased 14 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 9 percent. In the final minutes of trading on Wednesday, shares hit $156.69, an increase of 24 percent in the last 12 months.

_____

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

AP RADIO
Update hourly