PVH Corp. Surges On Upbeat Quarterly Results, Outlook

(RTTNews) - Shares of Clothing company PVH Corp. (PVH) are rallying more than 18% Tuesday morning after reporting better-than-expected fourth-quarter earnings. The company's first-quarter as well as full-year guidance also came in above analysts' view.

Net profit in the fourth quarter declined to $138.7 million or $2.18 per share from $390.8 million or $5.53 per share in the same quarter a year ago.

However, excluding one-time items, earnings were $2.38 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $1.67 per share.

Quarterly revenue increased 2% year-on-year to $2.489 billion

Looking forward to the first quarter, the company expects revenue to be relatively flat compared to last year. EPS is projected to be approximately $1.90. Analysts expect the company to report earnings of $1.88 per share on revenue of $2.09 billion for the quarter.

For the full year, the company sees revenue increasing 3%-4% year-on-year. EPS is expected to be about $10. Analysts expect revenue to increase 2.1% and earnings to be $9.05 per share .

PVH is at $87.51 currently. It has traded in the range of $43.49-$94.51 in the last 1 year.