Skechers USA Reports Q1 Beat, Provides Guidance
<p><a href='https://financialmodelingprep.com/financial-summary/SKX'>Skechers U.S.A., Inc. (NYSE:SKX) </a>reported its Q1 results, with EPS of $0.77 coming in above the Street estimate of $0.72. Revenue was $1.82 billion, beating the Street estimate of $1.69 billion.</p>
<p>Analysts at Berenberg Bank believe the recently increased geographical sales disclosures would show how other markets helped "picked up the slack" for expected macro-driven weakness in markets such as China and Europe. Given recent lockdowns, China weakness was expected, but 9% growth in Q1 is quite impressive for the analysts given the circumstances.</p>
<p>While the company did not give specific numbers, the analysts suspect March and April were particularly weak. Elsewhere, sales grew 31% in the Americas, with a strong performance in the U.S., and 49% in EMEA, driven by strong growth in Europe.</p>
<p>The company provided its outlook for Q2, expecting EPS of $0.50-$0.55, compared to the consensus of $0.75, and revenue of $1.75-1.8 billion, compared to the consensus of $1.74 billion.</p>
<p>For the full 2022-year, the company expects EPS of $2.75-$2.95, compared to the consensus of $2.90, and revenue of $7.2-7.4 billion, compared to the consensus of $7.13 billion.</p>

NYSE:SKX