Guess?, Inc. GES unveiled a dazzling fourth-quarter performance that swept past market expectations. Not content with that, the company also announced a spectacular special dividend of $2.25 per share.
Guess? impressed with quarterly earnings hitting $2.01 per share, surpassing the analyst consensus of $1.56 by a whopping 28.85%. Revenue for the quarter stood at $891.05 million, outshining the anticipated $855.54 million, as per data from Benzinga Pro.
For the upcoming quarter, Guess? foresees revenue climbing by 1% to 2% and anticipates an adjusted loss ranging between 41 cents and 37 cents per share, in contrast to the estimated 2 cents per share loss.
Eyeing the fiscal year 2025, Guess? projects revenue growth between 11.5% and 13.5%, with expected earnings per share between $2.56 and $3.00, a touch below the $2.92 per share estimate.
In the words of Carlos Alberini, Guess?’s CEO, “We are laying the foundation for an extraordinary fiscal year ahead. The $3 billion revenue milestone beckons, marking an unprecedented chapter in our company’s history. With strategic plans in place, our core business poised for growth, the integration of rag & bone into our portfolio, and the launch of Guess Jeans to captivate Generation Z’s demand – the future looks promising.”
Following this remarkable performance, Guess? shares surged by 22.8%, reaching $31.87 on Thursday.
In the wake of the earnings report, several analysts adjusted their price targets for Guess?.
- Telsey Advisory Group revised the price target upward from $23 to $30, with analyst Dana Telsey maintaining a Market Perform rating.
- Small Cap Consumer Research raised the price target from $32.5 to $37, with analyst Eric Beder upholding a Buy rating.
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