<p>PVH results (NYSE: PVH) for the fourth quarter of 2019 have PVH shares as soaring after Wednesday. This comes after reporting adjusted earnings per share (EPS) of $ 1.88. That’s better than the Wall Street estimate of $ 1.81 per share. The clothing company’s revenue of $ 2.6 billion is also higher than analysts’ estimates of $ 2.5 billion.
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Here is what is worth mentioning from the latest PVH results report.
Adjusted earnings per share increased by 2.17% from $ 1.84 during the same period last year. Revenue for the quarter was 4.84% higher than the 2.48 billion dollars in the fourth quarter of 2018. PVHs results also include a net loss of 68.5 million US dollars. This is a negative change compared to the company’s net profit of $ 158.4 million from the same period the year before.
Emanuel Chirico, Chairman and CEO of PVH, said this in PVH’s earnings report:
“I think we have a solid financial position to navigate the COVID-19 outbreak and this period of unprecedented volatility. Our balance sheet has always been one of our core strengths and we have over $ 1 billion in cash and available loans. We also look closely at all our discretionary expenses, salary and salary reductions, investments and inventory management with a strong focus on managing our cash flow and maintaining our cash position and financial position. ”
The earnings report for PVH does not contain guidelines for the fiscal policy first quarter of 2020. The company says that this is due to the new coronavirus. However, it notes that it expects a negative impact on its operations.
The PVH share increased by 4.66% after the markets closed on Wednesday.
At the time of writing, William White had no position in any of the above securities.
Article printed from InvestorPlace Media, https://investorplace.com/2020/04/pvh-earnings-sends-pvh-stock-soaring/.
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