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?
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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.
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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.
Conclusion
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.