Executive Summary
PVH Corp posted a solid QQ4 2024 performance characterized by a rebound in revenue and resilient margins, supported by strong operating cash flow and meaningful free cash flow. Revenue for the quarter reached $2.3716 billion, up 21.5% year over year and 5.17% quarter over quarter, driven by strength across the brands and improved product mix. Gross profit of $1.3813 billion yielded a gross margin of 58.24%, while operating income was $0.2246 billion and net income stood at $0.1572 billion, translating to an EPS of $2.87 (diluted $2.78). EBITDA was $0.2878 billion, with an EBITDAR ratio of 12.14%. The quarter demonstrated meaningful operating leverage and margin stability despite a consumer environment that remains cautious in some markets.
Key Performance Indicators
Key Insights
Revenue: $2.3716B (+21.5% YoY; +5.17% QoQ). Gross Profit: $1.3813B; Gross Margin: 58.24% (YoY 15.23%; QoQ 4.91%). Operating Income: $0.2246B; Operating Margin: 9.47% (YoY 23.81%; QoQ 38.13%). Net Income: $0.1572B; Net Margin: 6.63% (YoY 3.83%; QoQ 19.18%). EPS: $2.87 (Diluted $2.78); EPS YoY +9.13%; QoQ +21.61%. EBITDA: $0.2878B; EBITDARatio: 12.13%....
Financial Highlights
Revenue: $2.3716B (+21.5% YoY; +5.17% QoQ). Gross Profit: $1.3813B; Gross Margin: 58.24% (YoY 15.23%; QoQ 4.91%). Operating Income: $0.2246B; Operating Margin: 9.47% (YoY 23.81%; QoQ 38.13%). Net Income: $0.1572B; Net Margin: 6.63% (YoY 3.83%; QoQ 19.18%). EPS: $2.87 (Diluted $2.78); EPS YoY +9.13%; QoQ +21.61%. EBITDA: $0.2878B; EBITDARatio: 12.13%.
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Revenue |
2.37B |
21.50% |
5.17% |
| Gross Profit |
1.38B |
15.23% |
4.91% |
| Operating Income |
224.60M |
23.81% |
38.13% |
| Net Income |
157.20M |
3.83% |
19.18% |
| EPS |
2.87 |
9.13% |
21.61% |
Key Financial Ratios
operatingProfitMargin
9.47%
operatingCashFlowPerShare
$8.88
freeCashFlowPerShare
$8.09
Management Commentary
No earnings call transcript content was provided in the data. Consequently, no management quotes or thematic highlights from the QQ4 2024 call could be extracted.
Forward Guidance
No formal forward guidance is included in the provided data. The QQ4 2024 results suggest a relatively favorable near-term momentum with solid FCF generation and a favorable margin trajectory, but investors should monitor: (1) DTC and wholesale mix and its impact on gross and operating margins, (2) macro consumer demand and regional demand variability (notably China/Asia and Europe), (3) currency headwinds and FX translate impact on international sales, and (4) the company’s leverage trajectory given net debt of approximately $2.64 billion and ongoing share repurchases.