Caleres (CAL) Reports Earnings Tomorrow: What To Expect
Footwear company Caleres (NYSE:CAL) will be announcing earnings results tomorrow before market hours. Here's what to expect.
Caleres met analysts' revenue expectations last quarter, reporting revenues of $697.1 million, flat year on year. It was a slower quarter for the company, with underwhelming earnings guidance for the full year.
Is Caleres a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Caleres's revenue to be flat year on year at $664.8 million, improving from the 9.8% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.87 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Caleres has missed Wall Street's revenue estimates three times over the last two years.
Looking at Caleres's peers in the footwear segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Deckers delivered year-on-year revenue growth of 21.2%, beating analysts' expectations by 8%, and Crocs reported revenues up 6.2%, topping estimates by 6.1%. Deckers traded up 14.2% following the results while Crocs was also up 7.1%.
Read our full analysis of Deckers's results here and Crocs's results here.
There has been positive sentiment among investors in the footwear segment, with share prices up 3.2% on average over the last month. Caleres is up 1.7% during the same time and is heading into earnings with an average analyst price target of $44 (compared to the current share price of $37.4).
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