Yahoo Finance Steven Madden (SHOO) Reports Earnings Tomorrow: What To Expect
Shoe and apparel company Steven Madden (NASDAQ:SHOO) will be reporting earnings tomorrow before the bell. Here's what to look for.
Steven Madden beat analysts' revenue expectations by 5.2% last quarter, reporting revenues of $552.4 million, up 19.1% year on year. It was a strong quarter for the company, with a solid beat of analysts' earnings estimates and a decent beat of analysts' Wholesale revenue estimates.
Is Steven Madden a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Steven Madden's revenue to grow 16.5% year on year to $518.9 million, a reversal from the 16.8% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.51 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Steven Madden has only missed Wall Street's revenue estimates once over the last two years, exceeding top-line expectations by 3% on average.
Looking at Steven Madden's peers in the footwear segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Deckers delivered year-on-year revenue growth of 22.1%, beating analysts' expectations by 2.4%, and Skechers reported revenues up 7.2%, falling short of estimates by 3.5%. Deckers traded up 6.2% following the results while Skechers was also up 1.6%.
Read our full analysis of Deckers's results here and Skechers's results here.
There has been positive sentiment among investors in the footwear segment, with share prices up 11.2% on average over the last month. Steven Madden is up 6.3% during the same time and is heading into earnings with an average analyst price target of $44.7 (compared to the current share price of $44.19).
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