Denim clothing company Levi’s (NYSE:LEVI) will be reporting results tomorrow after market close. Here’s what you need to know.
Levi’s beat analysts’ revenue expectations by 6% last quarter, reporting revenues of $1.84 billion, up 12% year on year. It was a mixed quarter for the company, with an impressive beat of analysts’ constant currency revenue estimates but full-year EPS guidance missing analysts’ expectations significantly.
Is Levi’s a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Levi’s revenue to be flat year on year at $1.54 billion, improving from the 7.8% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.28 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Levi’s has missed Wall Street’s revenue estimates five times over the last two years.
Looking at Levi’s peers in the consumer discretionary segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Nike’s revenues decreased 9.3% year on year, beating analysts’ expectations by 2.3%, and Carnival reported revenues up 7.5%, topping estimates by 0.9%. Nike traded down 5.4% following the results, while Carnival was up 1.1%.
Read our full analysis of Nike’s results here and Carnival’s results here.
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