Kohl's (KSS) Tops Q4 EPS by $1.21c, Revenues Beat; Offers FY21 EPS Outlook

March 2, 2021 7:07 AM EST

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Kohl's (NYSE: KSS) reported Q4 EPS of $2.22, $1.21 better than the analyst estimate of $1.01. Revenue for the quarter came in at $6.14 billion versus the consensus estimate of $5.88 billion.

  • Fourth quarter diluted earnings per share of $2.20; adjusted diluted earnings per share(2) of $2.22, including $1.15 per share of incremental tax benefit driven by tax planning strategies
  • Further strengthened financial position during the fourth quarter, ending with $2.3 billion in cash
  • Expects full year 2021 net sales to increase in the mid-teens percentage range as compared to 2020, operating margin to be in the range of 4.5% to 5.0% and earnings per share to be in the range of $2.45 to $2.95
  • Resuming capital allocation strategy in 2021, including increasing capital expenditures, reinstating dividend, resuming share repurchase program, and employing liability management strategies

"After an extraordinary year managing through the pandemic, we ended the year in a very solid financial position, and we enter 2021 with strong momentum. We are pleased with the progress we are making against our strategic initiatives and we are set up to deliver a multi-year improvement in sales and operating margin. Several newly announced initiatives will come to life for our customers in the year ahead, most importantly the launch of our Sephora partnership in August,” said Michelle Gass, Kohl’s chief executive officer.

“We are committed to driving shareholder value and based on our strong financial outlook we are resuming our capital allocation strategy in 2021,” said Gass.

GUIDANCE:

Kohl's sees FY2021 EPS of $2.45-$2.95.

The Company currently expects full year 2021 net sales to increase in the mid-teens percentage range as compared to the prior year, operating margin to be in the range of 4.5% to 5.0%, and earnings per share to be in the range of $2.45 to $2.95, excluding any non-recurring charges.

For earnings history and earnings-related data on Kohl's (KSS) click here.



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