Footwear company Caleres (NYSE: CAL) will be reporting results this Tuesday before market open. Here’s what you need to know.
Caleres met analysts’ revenue expectations last quarter, reporting revenues of $658.5 million, down 3.6% year on year. It was a disappointing quarter for the company, with a significant miss of analysts’ adjusted operating income estimates and a significant miss of analysts’ EBITDA estimates.
Is Caleres a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Caleres’s revenue to grow 3.7% year on year to $768.6 million, a reversal from the 2.8% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.85 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Caleres has missed Wall Street’s revenue estimates six times over the last two years.
Looking at Caleres’s peers in the footwear segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Crocs’s revenues decreased 6.2% year on year, beating analysts’ expectations by 3.3%, and Steven Madden reported revenues up 6.9%, falling short of estimates by 4%. Crocs traded down 3.5% following the results while Steven Madden was up 16.9%.
Read our full analysis of Crocs’s results here and Steven Madden’s results here.
There has been positive sentiment among investors in the footwear segment, with share prices up 3.4% on average over the last month. Caleres is up 19.7% during the same time and is heading into earnings with an average analyst price target of $19 (compared to the current share price of $13.34).
P.S. STOP buying the AI stocks everyone's talking about. The real money? It’s in the profitable pick nobody’s watching yet. We’ve identified an AI profit machine that’s flying under Wall Street’s radar—for now. We can’t keep this research public forever—grab your FREE copy before we pull it offline. GO HERE NOW.
StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.
