The Buckle Inc delivered a standout QQ4 2024 performance anchored by a high gross margin and strong cash generation. Revenue reached $379.2 million, up approximately 44.5% year over year (YoY) and 29.2% quarter over quarter (QoQ), supported by favorable product mix and disciplined selling, general, and administrative spend. Net income climbed to $77.2 million with diluted earnings per share (EPS) of $1.53, reflecting a YoY increase of about 118.6% and QoQ growth of 71.9%. Operating margin expanded to 25.38% and EBITDA margin stood at 26.83%, underscoring margin resilience amid a competitive apparel retail landscape.
Cash flow remained a notable strength. Operating cash flow was $120.8 million, driving free cash flow to $111.0 million. Buckle deployed capital toward a sizable dividend payout of $144.7 million in the period, contributing to a net debt position of $59.3 million while cash and cash equivalents totaled $266.9 million and total debt stood at $326.3 million. The balance sheet remains robust with equity of $423.8 million and a current ratio of 2.05x, supporting ongoing liquidity and optionality for share repurchases or strategic initiatives if warranted. Management appears focused on sustaining omnichannel momentum, private-label growth, and disciplined expense management, which should sustain margin and cash generation unless consumer demand deteriorates or competitive discounting intensifies.
Looking ahead, there is no formal forward guidance in the provided data, but the QA reinforces a constructive near-term outlook given the earnings trajectory, cash conversion, and strong brand positioning in casual apparel. Investors should monitor comp-store performance, inventory levels, e-commerce contribution, and potential changes in consumer behavior, as these factors will largely drive the pace of revenue growth and margin trajectory going into 2025.