NASDAQ$COLM
Columbia Sportswear Company · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Columbia's Q2 2023 financial results reflected a dynamic environment with growth in international markets offset by challenges in the U.S., while inventory reduction plans progressed and innovation continued.
Columbia Sportswear Company reported a 7% increase in net sales, reaching $620.9 million. Diluted earnings per share increased by 27% to $0.14. The company is taking a more conservative approach to planning the balance of the year.
- Net sales increased 7 percent (9 percent constant-currency) to $620.9 million.
- Operating income decreased 29 percent to $6.2 million.
- Diluted earnings per share increased 27 percent to $0.14.
- Exited the quarter with $302.8 million of cash, cash equivalents and short-term investments and no borrowings.
Headline financials
Revenue & EPS history
Columbia · Revenue · Quarterly
$621M
Forward guidance
The Company's third quarter and full year 2023 Financial Outlook is forward-looking in nature and reflects expectations as of August 1, 2023. Net sales are expected to increase 2.0 to 3.5 percent to $3.53 to $3.59 billion. Diluted earnings per share of $4.40 to $4.65.
Tailwinds
- Net sales are expected to increase 2.0 to 3.5 percent to $3.53 to $3.59 billion from $3.46 billion in 2022.
- Gross margin is expected to expand approximately 40 basis points to approximately 49.8 percent of net sales from 49.4 percent of net sales in 2022.
- Interest income, net is expected to be approximately $13 million.
- Operating cash flow is expected to be approximately $550 to $600 million.
- Net sales are expected to be $995 to $1,010 million, representing growth of 4 to 6 percent from $955.1 million for the comparable period in 2022.
Headwinds
- Operating income is expected to be $348 to $368 million, resulting in operating margin of 9.8 to 10.3 percent, compared to operating margin of 11.3 percent in 2022.
- Diluted earnings per share of $4.40 to $4.65 (prior $5.15 to $5.40).
- Foreign currency translation is anticipated to reduce 2023 net sales growth by approximately 30 basis points.
- SG&A expenses, as a percent of net sales, are expected to be 40.1 to 40.5 percent.
- Diluted earnings per share is expected to be $1.60 to $1.70 compared to $1.80 for the comparable period in 2022.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
+1.1%
Avg return
Earnings day
-0.4%
Avg return
5 days after
+0.6%
Avg return
30 days after
52%
34 / 65 earnings
Positive
+22.8%
Q4 2014
Best reaction
-20.4%
Q3 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +2.4% | +4.2% | +8.7% | |
| Q4 2025 | +14.4% | +9.5% | +1.6% | |
| Q3 2025 | -2.1% | +1.7% | +4.3% | |
| Q1 2025 | -4.3% | +3.8% | +2.4% | |
| Q4 2024 | -5.7% | -9.2% | -1.9% | |
| Q3 2024 | +5.7% | +7.4% | +14.6% | |
| Q2 2024 | -2.4% | +3.8% | +7.0% | |
| Q1 2024 | +0.3% | -0.2% | +5.3% | |
| Q4 2023 | +2.6% | -2.1% | +2.4% | |
| Q3 2023 | +1.6% | +5.1% | +7.4% | |
| Q2 2023 | -5.5% | -4.1% | -6.7% | |
| Q1 2023 | -3.0% | -5.7% | -13.3% | |
| Q4 2022 | -4.0% | -6.2% | -7.6% | |
| Q3 2022 | +2.0% | -1.1% | +17.9% | |
| Q2 2022 | +1.7% | +1.7% | +1.2% | |
| Q1 2022 | -5.1% | -5.2% | -10.7% | |
| Q4 2021 | +1.1% | +5.4% | -3.2% | |
| Q3 2021 | +4.2% | +1.7% | +0.5% | |
| Q2 2021 | +2.4% | +3.5% | +4.4% | |
| Q1 2021 | -3.3% | -3.9% | -8.8% | |
| Q4 2020 | +19.9% | +14.2% | +13.5% | |
| Q3 2020 | -20.4% | -15.5% | -9.7% | |
| Q2 2020 | -8.1% | -10.7% | +6.2% | |
| Q1 2020 | -10.1% | -12.3% | -1.9% | |
| Q4 2019 | -4.7% | -4.7% | -17.0% | |
| Q3 2019 | -4.0% | -3.6% | -1.8% | |
| Q2 2019 | -1.2% | +2.1% | -11.5% | |
| Q1 2019 | -3.6% | -4.8% | -7.5% | |
| Q4 2018 | +14.4% | +12.6% | +8.1% | |
| Q3 2018 | -0.7% | +6.8% | +4.2% | |
| Q2 2018 | -8.1% | -6.4% | -2.6% | |
| Q1 2018 | +4.7% | +2.6% | +8.5% | |
| Q4 2017 | +1.8% | -0.9% | +5.1% | |
| Q3 2017 | +3.4% | -1.0% | +8.5% | |
| Q2 2017 | +7.3% | +3.6% | -1.1% | |
| Q1 2017 | -4.7% | -4.2% | -9.2% | |
| Q4 2016 | +11.2% | +8.5% | +3.2% | |
| Q3 2016 | +0.7% | -2.8% | +5.0% | |
| Q2 2016 | -3.5% | -7.8% | -3.9% | |
| Q1 2016 | -4.9% | — | — | |
| Q4 2015 | +16.7% | — | — | |
| Q3 2015 | +3.9% | — | — | |
| Q2 2015 | +16.5% | — | — | |
| Q1 2015 | -8.7% | — | — | |
| Q4 2014 | +22.8% | — | — | |
| Q3 2014 | +3.3% | — | — | |
| Q2 2014 | -7.9% | — | — | |
| Q1 2014 | +7.9% | — | — | |
| Q4 2013 | +9.3% | — | — | |
| Q3 2013 | +10.4% | — | — | |
| Q2 2013 | +3.3% | — | — | |
| Q1 2013 | +0.0% | — | — | |
| Q4 2012 | +4.1% | — | — | |
| Q3 2012 | +4.4% | — | — | |
| Q2 2012 | +2.2% | — | — | |
| Q1 2011 | +1.3% | — | — | |
| Q1 2012 | +5.3% | — | — | |
| Q4 2009 | -0.2% | — | — | |
| Q4 2011 | -0.2% | — | — | |
| Q3 2011 | -1.5% | — | — | |
| Q3 2010 | -1.5% | — | — | |
| Q2 2010 | -3.8% | — | — | |
| Q4 2010 | -3.8% | — | — | |
| Q2 2011 | -3.8% | — | — | |
| Q1 2010 | +1.5% | — | — |
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