🐦 推特Wall St EngineCodex · 实盘不做把握 6/10
北京时间·🕒 发布 04:12:03时区推断·⟳ 抓取 04:12:03·⚡ 决策 07-24 04:13:50 +1m47s·96.0 天前
Deckers公布FY27一季度业绩，收入符合预期、EPS小幅超预期，全年指引基本贴近一致预期
本次业绩收入10.2亿美元基本符合预期，EPS 0.94美元高于预期0.88美元，但全年收入指引5.86亿至5.91亿美元贴近市场预期5.90亿美元，增量 surprise 不够强。
📄 原文Wall St Engine@wallstengine↗ 原文
DECKERS $DECK Q1’27 EARNINGS HIGHLIGHTS 🔹 Revenue: $1.02B (Est. $1.02B) 🟡; +5.7% YoY 🔹 EPS: $0.94 (Est. $0.88) 🟢; +1% Y…
不做 Deckers Outdoor（DECK.US）
财报收入符合预期、全年收入指引贴近一致预期，EPS beat 幅度有限；财报类盘后明牌缺少足够正向 surprise，不做。
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研究档案
🔎 新鲜度:最早出现 2026-07-23 · 扩散 medium · price-in 风险 medium ↗
关键理由
- 本次业绩收入10.2亿美元基本符合预期，EPS 0.94美元高于预期0.88美元，但全年收入指引5.86亿至5.91亿美元贴近市场预期5.90亿美元，增量 surprise 不够强。
- HOKA收入同比增长7.7%、UGG同比增长4.9%，说明核心品牌仍稳健，但不是足以重估的高弹性增长。
- 财报类事件默认需要明确超预期或上调指引才值得追，本条更像稳健确认而非短线催化。
主要风险
- 若盘后实际股价因毛利率和回购预期大幅上行，开盘追高容易变成财报见光死。
- 社交摘要未提供完整管理层电话会细节，若电话会给出超预期订单或渠道库存改善，需由新信号重新研判。
原文全文
展开原文 · 1,085 字
DECKERS $DECK Q1’27 EARNINGS HIGHLIGHTS
🔹 Revenue: $1.02B (Est. $1.02B) 🟡; +5.7% YoY
🔹 EPS: $0.94 (Est. $0.88) 🟢; +1% YoY
🔹 Gross Margin: 56.4% (Est. 54.5%) 🟢; +60 bps YoY
🔹 HOKA Revenue: $703.5M; +7.7% YoY
FY27 Guide:
🔹 Revenue: $5.86B-$5.91B (Est. $5.9B) 🟡
🔹 EPS: $7.35-$7.50 (Est. $7.50) 🟡; raised from prior outlook
🔹 Gross Margin: Slightly better than 56.5%
🔹 Operating Margin: Slightly better than 21.5%
🔹 SG&A: Approximately 35% of net sales
🔹 Effective Tax Rate: Approximately 23%
Segment Net Revenue:
🔹 HOKA: $703.5M; +7.7% YoY
🔹 UGG: $278.0M; +4.9% YoY
🔹 Other Brands: $37.9M; -18.1% YoY
Other Q1 Metrics:
🔹 Net Sales (Constant Currency): +4.8% YoY
🔹 DTC Comparable Net Sales: +6.8%
Capital Return:
🔹 Buybacks: $338.2M (3.3M shares)
🔹 Remaining Authorization: $4.7B
Comments:
🔸 “Deckers delivered a solid start to the fiscal year, surpassing $1 billion of first quarter revenue for the first time.”
🔸 “This performance reflects the continued strength of HOKA and UGG, with growing global demand as both brands extend their reach through compelling product innovation.”
🔹 Revenue: $1.02B (Est. $1.02B) 🟡; +5.7% YoY
🔹 EPS: $0.94 (Est. $0.88) 🟢; +1% YoY
🔹 Gross Margin: 56.4% (Est. 54.5%) 🟢; +60 bps YoY
🔹 HOKA Revenue: $703.5M; +7.7% YoY
FY27 Guide:
🔹 Revenue: $5.86B-$5.91B (Est. $5.9B) 🟡
🔹 EPS: $7.35-$7.50 (Est. $7.50) 🟡; raised from prior outlook
🔹 Gross Margin: Slightly better than 56.5%
🔹 Operating Margin: Slightly better than 21.5%
🔹 SG&A: Approximately 35% of net sales
🔹 Effective Tax Rate: Approximately 23%
Segment Net Revenue:
🔹 HOKA: $703.5M; +7.7% YoY
🔹 UGG: $278.0M; +4.9% YoY
🔹 Other Brands: $37.9M; -18.1% YoY
Other Q1 Metrics:
🔹 Net Sales (Constant Currency): +4.8% YoY
🔹 DTC Comparable Net Sales: +6.8%
Capital Return:
🔹 Buybacks: $338.2M (3.3M shares)
🔹 Remaining Authorization: $4.7B
Comments:
🔸 “Deckers delivered a solid start to the fiscal year, surpassing $1 billion of first quarter revenue for the first time.”
🔸 “This performance reflects the continued strength of HOKA and UGG, with growing global demand as both brands extend their reach through compelling product innovation.”
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