Canada Goose Reports Strong Q4 Earnings, Shares Rise 13% to $13

May 16, 2024, 11:20 AM

Canada Goose Holdings Inc. reported strong fourth-quarter earnings, significantly surpassing analyst expectations. The company posted a Q4 revenue of $358 million, beating the estimated $316.4 million. Adjusted earnings per share (EPS) came in at $0.19, far exceeding the anticipated $0.07. Adjusted EBIT was $40.1 million, compared to the expected $22.4 million. The EBIT margin was 11.2%, higher than the estimated 6.52%. Total revenue increased by 22% year-over-year, with a 23% rise on a constant currency basis. Net income attributable to shareholders was $5.0 million, or $0.05 per diluted share, compared to a net loss of $3.1 million in the previous year. The company experienced a 24% growth in North America and noted a steady demand recovery in China. Despite weak wholesale performance and soft guidance, shares rose 13% pre-market to approximately $13. Canada Goose also announced plans to raise prices, navigating a difficult environment.