Advertisement
Capri Holdings Backs FY22 EPS Outlook, But Trimmed Revenue Forecast
(RTTNews) - While reporting financial results for the second quarter on Wednesday, fashion luxury group Capri Holdings Ltd. (CPRI) maintains its earnings guidance for the full-year 2023, while trimming annual revenue outlook. The company also provided forecast for the third quarter.
For the third quarter, the company projects earnings of about $2.20 per share on revenues of about $1.53 billion.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $2.43 per share on revenues of $1.64 billion for the quarter. Analysts' estimates typically exclude special items.
Looking ahead to fiscal 2023, the company continues to projects earnings of approximately $6.85 per share, but trimmed its revenue outlook to about $5.70 billion from the prior guidance of about $5.85 billion.
The Street is looking for earnings of $6.76 per share on revenues of $5.83 billion for the year.
The Company also announced that its Board of Directors approved a new share repurchase program of up to $1 billion of its outstanding ordinary shares, providing additional capacity to return cash to shareholders over the longer term.
This new two-year program will replace the Company's existing $1 billion share repurchase program which had $250 million of availability remaining.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com
Capri Holdings Guides FY24 EPS Above Estimates - Update
Japanese Market Sharply Lower; Down 3.4%
Soft Start Expected For Hong Kong Stock Market
Steady Start Eyed For China Stock Market
Australian Market Sharply Lower
Losing Streak May Continue For Singapore Stock Market
Renewed Consolidation Called For Malaysia Shares
