Skechers USA Inc. (SKX) shares plunged 13.31% in after-hours trading on Thursday, following the release of the company's fourth quarter 2024 earnings results that missed analyst expectations.
For the quarter, Skechers reported earnings per share of $0.65, missing the consensus analyst estimate of $0.74 by 12.16%. The company's revenue of $2.21 billion also slightly missed expectations of $2.22 billion. Both earnings and revenue were up year-over-year, but fell short of forecasts.
Looking ahead, Skechers provided Q1 2025 earnings guidance of $1.10-$1.15 per share on expected sales of $2.4-$2.43 billion. The disappointing Q4 results and outlook appear to have sparked the sharp sell-off in Skechers shares in extended trading.
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