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北京时间·🕒 发布 04:38:11时区推断·⟳ 抓取 04:41:14·⚡ 决策 07-24 04:42:47 +1m33s·96.0 天前
Deckers一季报盈利小超预期但全年EPS指引低于市场预期
Deckers FY2027 Q1收入10.2亿美元、EPS 0.94美元，收入基本符合预期、EPS高于约0.88美元共识，但核心HOKA销售7.035亿美元略低于市场期待。
📄 原文Seeking Alpha↗ 原文
Deckers Outdoor beats FQ1 profit estimates, but guidance disappoints
Shares of Deckers Outdoor (DECK) were pinned down in after-hours trading as the company’s increased FY26 profit outlook…
不做 Deckers Outdoor（DECK.US）
排期内财报利好利空混合：EPS beat和毛利率/回购支撑与全年EPS中点低于预期、HOKA小幅miss相互抵消，缺少足够强的同向edge；不做，等电话会或次日真实承接后由新信号接手。
展开详情(成交明细 / 研究档案 / 原文全文 / 决策记录链)
研究档案
消息传播链
- 公司发布FY2027 Q1财报，披露收入、品牌销售、利润率和全年EPS指引。
- 媒体将事件解读为盈利小超预期但全年EPS中点低于市场预期，盘后股价承压。市场反应:盘后报道称DECK股价被压低。
关键理由
- Deckers FY2027 Q1收入10.2亿美元、EPS 0.94美元，收入基本符合预期、EPS高于约0.88美元共识，但核心HOKA销售7.035亿美元略低于市场期待。
- 公司将全年EPS指引上调至7.35-7.50美元，但中点7.43美元仍低于约7.49美元市场预期，盘后报道显示股价受压。
- 这是排期内财报披露，利好和利空同时存在，缺少足够强的单向 surprise 支持追多或开空。
主要风险
- 若电话会进一步下修HOKA增长或毛利展望，次日仍可能出现财报后下跌。
- 公司同时披露56.4%毛利率高于预期、33.8亿美元回购，削弱把它作为强空催化交易的确定性。
反向证据
- 做空前查反向 · 来源 web · 日期 2026-07-23 · 影响 weakens
毛利率56.4%显著高于预期，且公司Q1回购3.382亿美元、剩余额度约47亿美元，削弱做空逻辑。
检索:Deckers Q1 FY2027 earnings gross margin buyback guidance HOKA UGG July 2026 原文 ↗ - 做多前查反向 · 来源 web · 日期 2026-07-23 · 影响 weakens
全年EPS中点7.43美元低于约7.49美元预期，且HOKA销售略不及估计，削弱追多逻辑。
检索:Deckers FY2027 EPS guidance consensus July 2026 HOKA sales miss 原文 ↗
历史先例(按相似度)
- 相似度 6/10 DECK 2026-05-21 Deckers FY2026 Q4财报和FY2027初始指引，属于同公司同类财报事件。 原文 ↗
OptionSlam显示2026-05-21盘后财报后次日开盘约102.05美元、收盘106.67美元，日内转强。
相似度依据:同一公司财报盘后事件，但上次财报后次日反应偏正，不能直接证明本次弱指引会下跌。
原文全文
展开原文 · 1,408 字
Shares of Deckers Outdoor (DECK) were pinned down in after-hours trading as the company’s increased FY26 profit outlook still fell short of Wall Street’s estimates, overshadowing an earnings beat.
The parent company of HOKA and UGGs delivered a solid quarter, surpassing $1B in sales for the first time, which contributed to a profit of $0.94 per share, up a penny from a year ago and 6 cents better than estimates.
“This performance reflects the continued strength of HOKA and UGG, with growing global demand as both brands extend their reach through compelling product innovation,” said Deckers Outdoors CEO Stefano Caroti.
While total sales were in line with expectations, brand performance was mixed versus estimates with a 4.9% increase in UGG sales to $278M above estimates, but HOKA sales of $703.5M (up 7.7%) were a slight miss.
Gross margin expanded 60 basis points to 56.4%, 200 basis points wider than expected.
For the full year, the company now expects to earn a profit between $7.35 and $7.50 per share versus a prior range of $7.30 and $7.45 per share previously with the $7.43 midpoint of the new range below $7.49 estimates.
Sales are still expected to be within a range of $5.86B and $5.91B, in line with expectations. This assumes low double-digit sales growth for HOKA and mid-single-digit sales growth for UGG.
Gross margin is now expected to be better than 56.5% versus 57.7% last year.
The parent company of HOKA and UGGs delivered a solid quarter, surpassing $1B in sales for the first time, which contributed to a profit of $0.94 per share, up a penny from a year ago and 6 cents better than estimates.
“This performance reflects the continued strength of HOKA and UGG, with growing global demand as both brands extend their reach through compelling product innovation,” said Deckers Outdoors CEO Stefano Caroti.
While total sales were in line with expectations, brand performance was mixed versus estimates with a 4.9% increase in UGG sales to $278M above estimates, but HOKA sales of $703.5M (up 7.7%) were a slight miss.
Gross margin expanded 60 basis points to 56.4%, 200 basis points wider than expected.
For the full year, the company now expects to earn a profit between $7.35 and $7.50 per share versus a prior range of $7.30 and $7.45 per share previously with the $7.43 midpoint of the new range below $7.49 estimates.
Sales are still expected to be within a range of $5.86B and $5.91B, in line with expectations. This assumes low double-digit sales growth for HOKA and mid-single-digit sales growth for UGG.
Gross margin is now expected to be better than 56.5% versus 57.7% last year.
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