Deckers Outdoor Corporation reported significant financial growth for the three and six months ended September 30, 2024, compared to the same periods in 2023. Total net sales for the third quarter reached $1,311,320, reflecting a 20.1% increase from $1,091,907. For the first half of the fiscal year, net sales rose by 20.9% to $2,136,667 from $1,767,698. This growth was driven by strong performances from the UGG and HOKA brands, with wholesale net sales for HOKA increasing by 20.2% to $913,653.
Gross profit for the three months ended September 30, 2024, was $733,272, a 25.8% increase from $583,019 in the prior year. The gross margin improved to 55.9%, up from 53.4%, attributed to a favorable brand mix and higher-margin products. Income from operations for the third quarter was $305,086, marking a 35.8% increase from $224,617. For the six-month period, income from operations rose by 48.3% to $437,893 from $295,353.
Net income for the three months ended September 30, 2024, was $242,321, a 35.7% increase from $178,547. For the six months, net income reached $357,946, compared to $242,099 in the previous year, reflecting a 47.9% increase. Basic net income per share for the third quarter was $1.59, up from $1.14, while for the six months, it increased to $2.35 from $1.55.
The company’s total assets as of September 30, 2024, were $3,398,136, an increase from $3,135,579 as of March 31, 2024. Cash and cash equivalents decreased to $1,225,681 from $1,502,051, while trade accounts receivable rose significantly to $537,137 from $296,565. Inventories also increased to $777,891 from $474,311, indicating a strategic buildup in preparation for future sales.
In terms of strategic developments, Deckers completed the sale of the Sanuk brand on August 15, 2024, which did not significantly impact overall operations. The company also executed a six-for-one forward stock split and increased the number of authorized shares, effective September 13, 2024. The transition in leadership saw Dave Powers retire as CEO, with Stefano Caroti succeeding him on August 1, 2024.
Overall, Deckers Outdoor Corporation's financial results reflect robust growth across its brands, driven by increased sales and improved operational efficiency, alongside strategic adjustments in its portfolio and leadership.
About DECKERS OUTDOOR CORP
About 10-Q Filings
A 10-Q form is an important financial report that public companies in the United States must submit every three months. It gives a clear picture of a company's financial health and recent performance.
Key points about the 10-Q:
- Frequency: Companies file it three times a year, covering the first three quarters. The fourth quarter is covered in a more comprehensive annual report.
-
Content: It includes:
- Financial statements showing the company's current financial position
- Updates from management on the performance and projections of the business
- Information about potential risks the company faces
- Details on how the company is run internally
- Deadline: Must be filed within 40 or 45 days after the quarter ends, depending on the size of the company.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.