Live In Play

Live In Play®

Updated: 30-Jul-21 06:27 ET

CRI: Carter's beats by $0.88, beats on revs; guides Q3 EPS above consensus, revs above consensus; guides FY21 EPS above consensus, revs above consensus (98.52)

Reports Q2 (Jun) earnings of $1.67 per share, excluding non-recurring items, $0.88 better than the S&P Capital IQ Consensus of $0.79; revenues rose 45.0% year/year to $746.4 mln vs the $713.84 mln S&P Capital IQ Consensus.
Co issues upside guidance for Q3, sees EPS of $1.60, excluding non-recurring items, vs. $1.50 S&P Capital IQ Consensus; sees Q3 revs of $960 mln vs. $873.33 mln S&P Capital IQ Consensus.
Co issues raised guidance for FY21, sees EPS of +75% yr/yr to $7.28 from $5.82, excluding non-recurring items, vs. $6.35 S&P Capital IQ Consensus; sees FY21 revs of +15% yr/yr from +10% yr/yr to $3.48 bln vs. $3.41 bln S&P Capital IQ Consensus.
The Company's revised outlook for fiscal year 2021 reflects stronger than expected performance in the first half, and improved second half sales and adjusted earnings compared to those contemplated in its previous guidance. Factors expected to benefit the Company's performance in the second half of fiscal 2021 include its market-leading product assortments, structural changes made during the pandemic, such as improved assortment productivity, inventory management and marketing effectiveness, and the benefit of government stimulus. Marketplace risks that could adversely affect financial results in the second half of 2021 include supply chain disruptions, higher transportation costs, COVID-19 case trends, consumer traffic, international consumer demand, and pandemic-related birth count declines.