Executive Summary
Abercrombie & Fitch Co delivered a solid QQ3 2024 performance, supported by resilient pricing, brand strength, and a favorable direct-to-consumer mix. Revenue reached USD 1.209 billion, up 18.4% year-over-year and 6.6% quarter-over-quarter, while gross margin expanded to 65.1% and operating margin stood at 14.8%. Net income was USD 131.98 million with earnings per share of USD 2.59, reflecting a 15.6% year-over-year increase and a modest 0.38% quarterly decline.
Key Performance Indicators
Key Insights
Revenue: USD 1,208.97M; YoY +18.44%; QoQ +6.61% | Gross Profit: USD 786.93M; YoY +23.10%; QoQ +6.88%; Gross Margin: 65.09% | Operating Income: USD 179.28M; YoY +40.71%; QoQ +2.08%; Operating Margin: 14.83% | Net Income: USD 131.98M; YoY +15.92%; QoQ -0.89%; Net Margin: 10.92% | EBITDA: USD 228.15M; EBITDA Margin: 18.87% | EPS: USD 2.59; Diluted EPS: USD 2.50; YoY EPS +15.63%; QoQ -0.38% | Free Cash Flow (FCF): USD 92.25M; FCF per Share: USD 1.81 | Cash Flow: Net cash from operations USD 142.64M;...
Financial Highlights
Revenue: USD 1,208.97M; YoY +18.44%; QoQ +6.61% | Gross Profit: USD 786.93M; YoY +23.10%; QoQ +6.88%; Gross Margin: 65.09% | Operating Income: USD 179.28M; YoY +40.71%; QoQ +2.08%; Operating Margin: 14.83% | Net Income: USD 131.98M; YoY +15.92%; QoQ -0.89%; Net Margin: 10.92% | EBITDA: USD 228.15M; EBITDA Margin: 18.87% | EPS: USD 2.59; Diluted EPS: USD 2.50; YoY EPS +15.63%; QoQ -0.38% | Free Cash Flow (FCF): USD 92.25M; FCF per Share: USD 1.81 | Cash Flow: Net cash from operations USD 142.64M; Capex USD 50.39M; FCF generated supports a constructive capital allocation stance, including stock repurchases (USD -102.20M) during the period
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Revenue |
1.21B |
18.44% |
6.61% |
| Gross Profit |
786.93M |
23.10% |
6.88% |
| Operating Income |
179.28M |
40.71% |
2.08% |
| Net Income |
131.98M |
15.92% |
-0.89% |
| EPS |
2.59 |
15.63% |
-0.38% |
Key Financial Ratios
operatingProfitMargin
14.8%
operatingCashFlowPerShare
$2.8
freeCashFlowPerShare
$1.81
Management Commentary
No earnings call transcript provided in the data. Management quotes and themes could not be extracted from the QQ3 2024 dataset. If a transcript becomes available, a themes-based synthesis (strategy, operations, market conditions, and guidance) with context and implications for investors will be provided.
Forward Guidance
No formal forward guidance was published in the provided QQ3 2024 data. Based on realized results, the portfolio demonstrates pricing power and margin resilience, underpinning solid free cash flow generation. Investors should monitor: (1) consumer demand dynamics in the mid-tier specialty retail space, (2) mix shifts between direct-to-consumer versus wholesale/licensing, (3) inventory levels and potential markdown intensity given elevated days of inventory (147.7), and (4) capital allocation discipline (ongoing buybacks and potential investments in store network and e-commerce capabilities).