G-III Apparel Q1 Earnings Beat Street; Ups Annual Earnings Outlook

(RTTNews) - G-III Apparel Group, Ltd. (GIII) Thursday reported net profit of $5.8 million, or $0.12 per share for the first quarter, higher than $3.2 million, or $0.07 per share, in the prior year's quarter, primarily due to lower interest and financing charges. Earnings beat analysts' estimates. The company also raised its full-year profit outlook.

Interest and financing charges declined to $5.42 million from $12.15 million in the previous-year quarter.

Sales for the quarter increased to $609.7 million from $606.6 million last year.

On average, 5 analysts polled by Thomson-Reuters expected the company to report a loss of $0.03 per share for the quarter on revenue of $616.29 million. Analysts' estimates typically exclude special items.

Operating profit, however, declined to $13.5 million from $15.26 million last year.

For the full year, the company now expects net income in the range of $170.0 million - $175.0 million, or $3.58 per share - $3.68 per share, up from the previous outlook of $167.0 million - $172.0 million, or $3.50 per share - $3.60 per share.

Adjusted income for fiscal 2025 is expected between $170.0 million and $175.0 million, or between $3.58 per share and $3.68 per share. The previous outlook was for $167.0 million - $172.0 million, or $3.50 per share - $3.60 per share.

Sales for the year are still expected to be nearly $3.20 billion.

Analysts expect the company to report earnings of $3.54 per share on revenue of $3.19 billion for the year.

For the second quarter, the Company expects net sales of approximately $650.0 million.

Net income for the second quarter is expected to be between $10.0 million and $15.0 million, or between $0.22 per share and $0.32 per share. Adjusted income for the second quarter is seen in the range of $10.0 million - $15.0 million, or $0.22 per share - $0.32 per share.

The Street is looking for profit of $0.33 per share on revenue of $665.45 million.