Down 40% in 2022, Is Levi Strauss & Co. Stock a Buy?
Levi Strauss & Co.'s (NYSE: LEVI) stock tumbled 12% on Oct. 7 following its third-quarter earnings report. For the quarter that ended on Aug. 22, the denim apparel maker's revenue rose 1% year over year (and grew 7% in constant currency terms) to $1.52 billion, but missed analysts' expectations by $80 million. Its adjusted net income declined 18% to $161 million, or $0.40 per share, which still cleared the consensus forecast by $0.03.
For the full year, Levi Strauss expects its revenue to rise 6.7% to 7% on a reported basis and 11.5% to 12% in constant currency terms. Analysts had expected its revenue to rise 11% on a reported basis. It expects its full-year adjusted earnings per share (EPS) to land between $1.44 and $1.49, which would represent a 2% decline to 1% growth from 2021. Analysts had expected its adjusted EPS to increase about 5%.
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Source Fool.com
