Deckers Outdoor Corporation (DECK) shares surged 6.03% to trade at $330.0 per share in after-market on Thursday, May 20, 2021. Earlier, DECK’s stock lost 3.69% to close Thursday’s session at $311.22. DECK shares have jumped 91.51% over the last 12 months, and they have moved down 3.75% in the past week. Over the past three months, the stock has lost 6.02%, while over the past six months, it has added 22.37%.
Let’s see why DECK stock surge in the after-hours on Thursday?
Financial result announcement
On May 20, 2021, Deckers Brands released its financial results for the fourth fiscal quarter and the fiscal year ended March 31, 2021.
Q4 2021 financial highlights
- Deckers Brands net sales were $561.2 million in Q4 2021 compared to $374.9 million for the same period last year.
- Gross margin was 53.2% in Q4 2021compared to 51.5% for Q4 2020.
- In Q4 2021, SG&A expenses were $244.0 million compared to $176.3 million for Q4 2020.
- Operating income was $54.6 million in the reported quarter compared to $16.7 million for Q4 2020.
- Income tax expense was $19.6 million in Q4 2021 compared to $0.6 million for the same period last year.
- Diluted earnings per share were $1.18in Q4 2021 compared to $0.57 for the same period last year.
FY 2021 financial highlights
- FY 2021, net sales were $2.546 billion compared to $2.133 billion for FY 2020.
- The gross margin was 54.0% in FY 2021 compared to 51.8% for the same last financial year.
- SG&A expenses were $869.9 million in FY 2021compared to $765.5 million for FY 2020.
- Operating income was $504.2 million in FY 2021 compared to $338.1 million in FY 2020.
- Income tax expense was $118.9 million in FY 2021 compared to $64.7 million for FY 2020.
- Diluted earnings per share were $13.47in FY 2021compared to $9.62 for FY 2020.
The financial outlook for FY 2020
For fiscal 2022, Deckers Brands is expecting
- Net sales in the range of $2.950 billion to $3.000 billion.
- Gross margin of approximately 53.3%.
- Diluted earnings per share in the range of $14.05to $14.65.
HOKA collaboration with TINT
OnMarch 11, 2021, a division of Deckers Brands, HOKA ONE ONE, collaborated with Seoul-based fashion brand thisisneverthat (TINT), to introduce the new limited collection.
The new collection will feature a special-edition colorway of the Speedgoat 4 trail shoe, as well as an apparel capsule designed for exploration, active use, and all-day wear.
The DECK stock rallied after the company announced its Q4 and F 2021 results which beat all revenue and earnings estimates. We are pretty confident that it will continue its positive momentum on Friday as well to close the week on a positive note.