logo
  

Columbia Sportswear Lifts FY22 Earnings Outlook

While reporting its results for the fourth quarter on Thursday, Columbia Sportswear Company (COLM) lifted its earnings outlook for the full year 2022, while maintaining its revenue outlook.

Looking forward to the full year, the company now expects earnings of $5.70 to $6.00 per share, compared to prior estimate of $5.50 to $5.80 per share. The company continues to expect net sales of $3.63 to $3.69 billion, which represents sales growth of 16 to 18 percent compared to 2021.

Analysts polled by Thomson Reuters currently estimate earnings of $5.75 per share on revenues of $3.67 billion.

The company said it has paused taking any new orders from Russia-based distributor and removed any future sales to it from this outlook. This equates to an approximate 2 percent headwind to full year 2022 consolidated net sales.

On April 22, 2022, the Board of Directors approved a $500 million increase to the company's share repurchase authorization.

The Board of Directors approved a regular quarterly cash dividend of $0.30 per share, payable on June 2, 2022 to shareholders of record on May 19, 2022.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Ride-hailing and delivery platform Uber Technologies, Inc. reported Wednesday weak profit in its fourth quarter, while adjusted EBITDA surged from last year with strong revenue growth above market view. Gross bookings increased and the company projects higher gross bookings in the first quarter. Nelson Chai, CFO, said the company significantly exceeded profitability outlook in 2022, ... Societe Generale Group reported Wednesday a weak profit in its fourth quarter, despite higher net banking income. Further, the French Financial services major proposed a dividend and around 440 million euros share buyback program. The company also confirmed fiscal 2025 financial targets. City of Industry, California-based Titans Global Inc. is recalling certain JSJ branded cakes citing potential to contain undeclared eggs, a known allergen, the U.S. Food and Drug Administration said. The recall involves its 95g packages of JSJ Chocolate Cake, JSJ ZSR Cake, and JSJ DMC Leaf Cake food treats.
RELATED NEWS
Follow RTT