PVH Corp. has reported a rise in profit during the fourth quarter of the financial year, beating estimates predicted by Wall Street. The profit totalled at $271.8 million, an increase from last year's $138.7 million, equating to $4.55 per share compared the previous year's $4th quarter outcome of $2.18 per share.
Adjusted earnings, after excluding certain financial items, are reported by PVH Corp. to be $222.1 million or $3.72 per share for the period in consideration. Analysts had predicted an average earning of $3.53 per share, as gathered by Thomson Reuters. It is customary for these estimates to exclude specific items. Furthermore, the company maintained steady revenue of $2.49 billion.
A brief glance at the earnings of PVH Corp. based on generally accepted accounting principles (GAAP) reveals that for the fourth quarter, earnings increased to $271.8 million from the previous year's $138.7 million. Additionally, earnings per share (EPS) saw an increase to $4.55 from last year's $2.18. Revenue remained consistent at $2.49 billion compared to last year.
Looking ahead, the company's EPS guidance for the next quarter is projected at $2.15.
