FX.co ★ PVH Cuts FY Earnings Outlook, Stock Down 6%

PVH Corp. (PVH) announced its third-quarter results and subsequently adjusted its full-year forecast, causing its shares to decline by over 6% in after-hours trading.

The company now projects earnings per share to range from $10.55 to $10.70, falling from its previous estimate of $11.20 to $11.45 per share. Adjusted earnings are anticipated to be between $11.55 and $11.70 per share, a slight revision from the prior guidance of $11.55 to $11.80 per share.

PVH reaffirmed its outlook for a revenue decline of 6% to 7% compared to 2023. According to a Thomson Reuters survey, analysts currently expect earnings of $11.72 per share, with a projected revenue decrease of 6.45%.