Duluth Holdings Inc. (DLTH) Tops Q4 EPS by 1c, Beats on Revenues; Offers FY18 EPS,/Revenue Outlook Above Consensus

Note: EPS may not be comparable

Duluth Holdings Inc. (NASDAQ: DLTH) reported Q4 EPS of $0.55, $0.01 better than the analyst estimate of $0.54. Revenue for the quarter came in at $217 million versus the consensus estimate of $210 million.

Highlights for the Fourth Quarter Ended January 28, 2018

• Net sales increased 24.7% to $217.8 million compared to $174.7 million in the prior-year fourth quarter
• Gross margin decreased 210 basis points to 53.3% compared to 55.4% in the prior-year fourth quarter
• Operating income increased 29.3% to $29.5 million, or 13.6% of net sales, compared to $22.9 million, or 13.1% of net sales in the prior-year fourth quarter
• Net income was $19.5 million, or $0.60 per diluted share, compared to $14.0 million, or $0.43 per diluted share in the prior-year fourth quarter. Excluding the impact of the U.S. Tax Cuts and Jobs Act (the “Tax Act”), net income was $17.6 million, or $0.55 per diluted share.

Fiscal 2018 Outlook

Fiscal 2018 outlook is provided on a 53-week period, compared to a 52-week period in fiscal 2017.

• Net sales in the range of $555.0 million to $575.0 million
• Adjusted EBITDA1 in the range of $51.0 million to $54.0 million
• EPS in the range of $0.79 to $0.84 per diluted share, with an effective tax rate of 26% based on the Company’s provisional estimates from the impacts of the Tax Act
• Capital expenditures, net of proceeds from finance lease obligations of, $45.0 million to $55.0 million2
• 15 new store openings, adding 240,000 to 250,000 of additional gross square footage

GUIDANCE:

Duluth Holdings Inc. sees FY2018 EPS of $0.79-$0.84, versus the consensus of $0.66. Duluth Holdings Inc. sees FY2018 revenue of $555-575 million, versus the consensus of $463.6 million.

For earnings history and earnings-related data on Duluth Holdings Inc. (DLTH) click here.

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