Skechers Beats Profit Expectations in Q3, Nets Record Sales Over $2B
October 26, 2023
Skechers reported record quarterly sales of $2.02 billion, which were up 7.8 percent from the prior year and ahead of the company’s previously outlined projection of between $1.95 billion and $2 billion. Net earnings were $145.4 million and diluted earnings per share were up 69.1 percent to $0.93. Skechers had been aiming for diluted earnings per share of between $0.70 and $0.75.
The profit results also surpassed expectations from analysts surveyed by Yahoo Finance, who were looking for EPS of $0.79. Sales fell short of analysts predictions, which were looking for $2.03 billion in revenues. FN