Columbia Sportswear (COLM) Tops Q2 EPS by 14c, Raises FY EPS Guidance
Columbia Sportswear (NASDAQ: COLM) reported Q2 EPS of ($0.09), $0.14 better than the analyst estimate of ($0.23). Revenue for the quarter came in at $380.2 million versus the consensus estimate of $345.79 million.
Columbia Sportswear sees FY2015 EPS of $2.25-$2.35, versus prior guidance of $2.15-$2.25 and the consensus of $2.24.
Fiscal Year 2015 Outlook Raised to Anticipate:
- Low double-digit net sales growth (mid-teen constant-dollar);
- High-teen percentage growth in operating income, generating full year operating margin of approximately 10.3 percent of net sales;
- Net income between $160 million and $168 million, or $2.25 to $2.35 per diluted share, 17 percent to 22 percent higher than 2014 net income of $137.2 million, or $1.94 per diluted share.
Tim Boyle, Columbia’s chief executive officer, commented, “Our exceptional first-half results and our improved full year outlook illustrate the increasing earnings power of our expanded brand portfolio, seasonally diverse product offerings, and enhanced operational platforms. Strong sell-through of Spring 2015 products in North America and Europe drove demand in the second quarter and is fueling encouraging Spring 2016 wholesale advance orders.”
Boyle concluded, “We enter the Fall season with robust momentum in North America behind our Columbia, Sorel and prAna brands. In addition, we are gaining traction with the Columbia brand in Europe, despite slow economic growth in that region. As planned, with earlier receipt of Fall season inventory, we are very well positioned to deliver against our strong Fall advance order book. Together, these factors give us confidence in our expectations to deliver mid-teen constant-dollar net sales growth, operating margin of approximately 10.3 percent, and better than expected earnings growth in 2015.”
For earnings history and earnings-related data on Columbia Sportswear (COLM) click here.