PVH Updates FY22 Outlook, Shares Up 9%

(RTTNews) - While reporting its results for the third quarter on Wednesday, PVH Corp. (PVH) revised its outlook for the full year 2022. Shares gained over 9% in after-hours trading, following the news.

Looking forward, the company now expects revenue to be at the top end of previous guidance range, a decrease of approximately 3% as compared to 2021. PVH expects earnings of about $1.37 per share and adjusted earnings of $8.25 per share.

Previously, the company projected revenue to decrease 4% to 3% as compared to 2021, and earnings of about $7.64 and adjusted earnings of $8.00 per share.

Analysts polled by Thomson Reuters currently estimate earnings of $7.89 per share and revenues of $8.84 billion.