What To Expect From G-III’s (GIII) Q3 Earnings

StockStory
2024-12-09
What To Expect From G-III’s (GIII) Q3 Earnings

Fashion conglomerate G-III (NASDAQ:GIII) will be reporting earnings tomorrow before market hours. Here’s what investors should know.

G-III missed analysts’ revenue expectations by 0.7% last quarter, reporting revenues of $644.8 million, down 2.3% year on year. It was a strong quarter for the company, with a solid beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.

Is G-III a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting G-III’s revenue to grow 2.9% year on year to $1.10 billion, a reversal from the 1% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.28 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. G-III has missed Wall Street’s revenue estimates four times over the last two years.

Looking at G-III’s peers in the apparel and accessories segment, some have already reported their Q3 results, giving us a hint as to what we can expect. VF Corp’s revenues decreased 5.6% year on year, beating analysts’ expectations by 1.6%, and Hanesbrands reported a revenue decline of 2.5%, in line with consensus estimates. VF Corp traded up 27% following the results while Hanesbrands was also up 12.5%.

Read our full analysis of VF Corp’s results here and Hanesbrands’s results here.

There has been positive sentiment among investors in the apparel and accessories segment, with share prices up 3.2% on average over the last month. G-III is up 1.2% during the same time and is heading into earnings with an average analyst price target of $33 (compared to the current share price of $31.49).

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