PVH Corp. (NYSE: PVH) reported Q4 EPS of ($0.38), may not compare to the analyst estimate of ($0.33). Revenue for the quarter came in at $2.09 billion versus the consensus estimate of $2.12 billion.

• EPS on a GAAP and non-GAAP basis include an unplanned $0.13 negative impact due to an unfavorable settlement of a multi-year tax audit from an international jurisdiction

GUIDANCE:

PVH Corp. sees Q1 2021 EPS of $0.80-$0.83, versus the consensus of $0.84.

• Revenue in the first quarter of 2021 is projected to increase 42% to 44% (increase 34% to 36% on a constant currency basis) compared to the prior year period.
• The Company currently projects that first quarter 2021 earnings per share on a GAAP basis will be in a range of $0.28 to $0.31 compared to loss per share of $(15.37) in the prior year period. The Company currently projects that first quarter 2021 earnings per share on a non-GAAP basis will be in a range of $0.80 to $0.83 compared to loss per share of $(3.03) in the prior year period.
• The Company estimates that the first quarter 2021 effective tax rate will be approximately 50% on a GAAP basis and approximately 40% on a non-GAAP basis.

PVH Corp. sees FY2021 EPS of $6.00, versus the consensus of $6.27.

Revenue in 2021 is projected to increase 22% to 24% (increase 19% to 21% on a constant currency basis) as compared to 2020.

• The Company currently projects that 2021 earnings per share on a GAAP basis will be approximately $5.00 compared to a loss per share of $(15.96) in 2020. The Company currently projects that 2021 earnings per share on a non-GAAP basis will be approximately $6.00 compared to a loss per share of $(1.97) in 2020.
• The Company estimates that the 2021 effective tax rate will be in a range of 17.5% to 19.5%.
• The Company’s estimate of 2021 earnings per share on a non-GAAP basis excludes (i) approximately $70 million of costs expected to be incurred in connection with actions to streamline its organization through reductions in its workforce in certain international markets and to reduce its real estate footprint, including reductions in office space and select store closures, and (ii) approximately $21 million of costs expected to be incurred in connection with the planned exit from the Heritage Brands Retail business announced in July 2020.

For earnings history and earnings-related data on PVH Corp. (PVH) click here.