Brief: Columbia Sportswear Reports Q3 Results, Updates 2021 Financial Outlook, Provides Preliminary 2022 Commentary

Columbia Sportswear

28/10/2021 23:03

Oct 28 (Reuters) - Columbia Sportswear Co  COLM.O :
    * MPANY REPORTS THIRD QUARTER AND FIRST NINE MONTHS 2021
FINANCIAL
RESULTS; UPDATES FULL YEAR 2021 FINANCIAL OUTLOOK AND PROVIDES
PRELIMINARY 2022 COMMENTARY
    * Q3 EARNINGS PER SHARE $1.52
    * SEES FY EARNINGS PER SHARE $4.55 TO $4.80
    * SEES Q4 EARNINGS PER SHARE $1.60 TO $1.85
    * Q3 REVENUE $804.7 MILLION
    * QTRLY INVENTORIES DECREASED 7 PERCENT TO $720.9 MILLION,
COMPARED TO $771.7 MILLION AT SEPTEMBER 30, 2020
    * COLUMBIA SPORTSWEAR- BELIEVE CO CAN ACHIEVE MID-TEENS OR
BETTER
NET SALES GROWTH IN 2022, ON TOP OF LOW-TWENTIES PERCENT GROWTH
WE ANTICIPATE IN 2021
    * EXPECTS FY 2021 NET SALES TO INCREASE 21.5 TO 23.0 PERCENT
(PRIOR 25.0 TO 26.5 PERCENT) TO $3.04 TO $3.08 BILLION
    * Q3 EARNINGS PER SHARE VIEW $1.33 -- REFINITIV IBES DATA
    * Q4 EARNINGS PER SHARE VIEW $1.83 -- REFINITIV IBES DATA
    * FY2021 EARNINGS PER SHARE VIEW $4.65 -- REFINITIV IBES
DATA
    * COLUMBIA SPORTSWEAR- FY NET INCOME IS EXPECTED TO BE $302
TO
$319 MILLION, RESULTING IN DILUTED EARNINGS PER SHARE OF $4.55
TO $4.80
    * EXPECTED NET SALES OF $1.04B TO $1.08 IN Q4, REPRESENTING
NET
SALES GROWTH OF 14 TO 18 PERCENT
    * PRELIMINARY PLANNING FOR 2022 CONTEMPLATES AN OPERATING
MARGIN
SIMILAR TO RANGE PROVIDED IN OUR 2021 FINANCIAL OUTLOOK
    * COLUMBIA SPORTSWEAR- ASSUMING NO CHANGES TO CURRENT TAX
RATES OR
DISCRETE TAX ITEMS, CURRENTLY ANTICIPATE  2022 EFFECTIVE TAX
RATE TO BE IN MID-TWENTIES PERCENT RANGE
    * COLUMBIA SPORTSWEAR - SUPPLY CHAIN CONSTRAINTS CONTINUE TO
IMPACT OPERATIONS, DELAYING RECEIPT & DELIVERY OF PRODUCTS FOR
FALL 2021 & SPRING 2022

Source text for Eikon:  ID:nBw5f491xa 
Further company coverage:  COLM.O 

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