Columbia Sportswear (COLM) Tops Q1 EPS by 37c, Tops on Revenue; Offers FY24 Guidance
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Columbia Sportswear Company Reports First Quarter 2024 Financial Results; Updates Full Year 2024 Financial Outlook
April 25, 2024 4:05 PM EDTFirst Quarter 2024 Highlights
Net sales decreased 6 percent to $770.0 million, compared to first quarter 2023. Operating income decreased 21 percent to $44.7 million, or 5.8 percent of net sales, compared to first quarter 2023 operating income of $56.4 million, or 6.9 percent of net sales. Diluted earnings per share decreased 4 percent to $0.71, compared to first quarter 2023 diluted earnings per share of $0.74. Exited the quarter with $787.7 million of cash, cash equivalents and short-term investments, and no borrowings. Exited the quarter with $607.4 million of inventories, a decrease of 37 percent compared to March 31, 2023. The Company repurchased... More