Outerwear manufacturer Columbia Sportswear (NASDAQ:COLM) will be reporting earnings tomorrow after market hours. Here's what you need to know.
Columbia Sportswear beat analysts' revenue expectations by 3.6% last quarter, reporting revenues of $770 million, down 6.2% year on year. It was a decent quarter for the company, with an impressive beat of analysts' constant currency revenue estimates.
Is Columbia Sportswear a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Columbia Sportswear's revenue to decline 8.3% year on year to $569.4 million, a reversal from the 7.4% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.33 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Columbia Sportswear has missed Wall Street's revenue estimates four times over the last two years.
Looking at Columbia Sportswear's peers in the consumer discretionary segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Levi's delivered year-on-year revenue growth of 7.8%, meeting analysts' expectations, and Carnival reported revenues up 17.7%, topping estimates by 1.9%. Levi's traded down 15.7% following the results while Carnival was up 12%.
Read our full analysis of Levi's results here and Carnival's results here.
There has been positive sentiment among investors in the consumer discretionary segment, with share prices up 9.8% on average over the last month. Columbia Sportswear is down 3.5% during the same time and is heading into earnings with an average analyst price target of $78.8 (compared to the current share price of $78.75).
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