Canada Goose Holdings Inc. (TSX: GOOS) reported today its fiscal Q4 and full-year 2022 financial results ended April 3, 2022. The firm recorded a quarterly revenue of $223.1 million, up from Q4 2021’s $208.8 million.
But for fiscal Q1 2023, the company is expecting the topline figure to land between $60 – $65 million. This is partly due to the firm expecting that the first quarter will only contribute 5% of the annual 2023 revenue compared to 20% in Q2, 50% in Q3, and 25% in Q4.
“We closed fiscal 2022 with record sales for the year and confidence in our ability to accelerate earnings growth in Fiscal 2023 and beyond,” said CEO Dani Reiss.
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The annual revenue for fiscal 2022 ended at $1.10 billion, up from $903.7 million last year. For 2023, the firm is guiding the revenue between $1.30 – $1.40 billion.
Further down, the company recorded a quarterly net loss of $9.1 million, down from last year’s net income of $2.5 million. This translates to $0.09 loss per share.
On an adjusted basis, adjusted EBIT came in at $12.5 million, up from last year’s $4.8 million. This yields to an adjusted income of $0.04 per share. However, the firm is guiding Q1 2023 to have adjusted EBIT at a loss between $75 – $80 million with adjusted loss per share between $0.60 – $0.64.
For fiscal 2022, net income ended at $94.6 million, up from last year’s $70.3 million. Adjusted EBIT came in at $174.6 million, also up from last year’s $132.6 million, while adjusted net income per share landed at $1.09 from last year’s $0.78.
The firm is eyeing the figures to go up in 2023, expecting adjusted EBIT to be $250 – $290 million and adjusted net income to be $1.60 – $1.90 per share.
Aside from the expected revenue shares to be contributed by each quarter in fiscal 2023, the firm’s guidance is said to be based on a number of assumptions, including regular trading levels in Mainland China and improved traffic and projected lower levels of operating disruptions globally.
Canada Goose last traded at $24.54 on the TSX.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
