PVH Profit Tops Street; Outlook Weak Due To Foreign Currency, Russia Businesses

(RTTNews) - Apparel company PVH Corp (PVH) on Wednesday reported fourth-quarter net earnings of $51.5 million or $0.62 per share compared with a loss of $37.5 million or $0.46 per share last year.

Excluding items, adjusted earnings for the quarter were $1.76 per share compared with earnings of $1.43 per share a year ago.

Total revenues for the quarter were higher at $2.07 billion compared with $2.05 billion in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $1.73 per share on revenues of $2.10 billion for the quarter. Analysts' estimates typically exclude special items.

For the first quarter, PVH projects adjusted earnings of $1.35 to $1.40 per share, reflecting a negative impact of $0.30 per share from foreign currency exchange and pressures on its Russia businesses. Revenues are expected to decline 6% from the prior-year quarter.

Analysts expect earnings of $1.52 per share and revenues to drop 0.2% for the quarter.

For the full year, PVH expects adjusted earnings of $6.75 to $6.90 per share, reflecting a negative impact of $1.30 per share from foreign currency and pressures on its Russia businesses. The company expects 2015 revenues to drop 4% from the prior year.

Analysts expect earnings of $7.37 per share and revenues to be flat for 2015.