Levi Strauss Stock Slips Despite Q3 Earnings Beat

Benzinga

Levi Strauss beat estimates with $0.34 EPS and $1.54B in revenue, up 7% year-over-year. Strong e-commerce and DTC growth drove results as the company raised full-year guidance ahead of the holiday season.

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00:00It's Benzinga bringing Wall Street to Main Street.

00:02Levi Strauss beat earnings expectations of $0.34 per share, but investors appear disappointed

00:07after its strong second quarter, according to Benzinga. The company reported quarterly

00:10revenue of $1.54 billion, which was passing estimates and rising from $1.44 billion a year

00:15earlier. Levi Strauss' third quarter results showed 7% revenue growth driven by strong direct-to-consumer

00:20and e-commerce sales, which made up 46% of total revenue. CEO Michelle Gass said Levi's shift

00:26toward a DTC first model is fueling financial momentum and that the retailer is well-positioned

00:31for the holiday season. The company raised its full-year guidance for earnings and revenue,

00:35projecting adjusted EPS of $1.27 to $1.32 in revenue of up to $6.59 billion.

00:41For all things money, visit Benzinga.com.

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