NASDAQ$COLM
Columbia Sportswear Company · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
Reported fourth quarter and full year 2022 financial results and provided full year 2023 financial outlook.
Columbia Sportswear Company reported a 4% increase in net sales to a record $1,169.6 million for the fourth quarter of 2022. Operating income decreased by 27% to $155.4 million, and diluted earnings per share decreased by 15% to $2.02. The company exited the quarter with $431.0 million in cash and short-term investments and no borrowings.
- Net sales increased 4 percent (8 percent constant-currency) to a record $1,169.6 million.
- Operating income decreased 27 percent to $155.4 million, or 13.4 percent of net sales.
- Diluted earnings per share decreased 15 percent to $2.02.
- Exited the quarter with $431.0 million of cash and short-term investments and no borrowings.
Headline financials
Revenue & EPS history
Columbia · Revenue · Quarterly
$1.17B
Forward guidance
The Company's first half and full year 2023 Financial Outlook is forward-looking in nature, and the following forward-looking statements reflect our expectations as of February 2, 2023 and are subject to significant risks and business uncertainties.
Tailwinds
- Net sales are expected to increase 3 to 6 percent to $3.57 to $3.67 billion from $3.46 billion in 2022.
- Gross margin is expected to expand approximately 60 basis points to approximately 50 percent of net sales from 49.4 percent of net sales in 2022.
- Operating income is expected to be $413 to $448 million, resulting in operating margin of 11.6 to 12.2 percent, compared to operating margin of 11.3 percent in 2022.
- Effective income tax rate is expected to be approximately 24.5 percent.
- Net income is expected to be $322 to $347 million, resulting in diluted earnings per share of $5.15 to $5.55.
Headwinds
- SG&A expenses are expected to increase faster than net sales growth.
- SG&A expense, as a percent of net sales, is expected to be 38.3 to 39.0 percent, compared to SG&A expense as a percent of net sales of 37.7 percent in 2022.
- Foreign currency translation is anticipated to reduce 2023 net sales growth by approximately 30 basis points.
- Foreign currency is expected to have an approximately $0.05 negative impact on diluted earnings per share due primarily to unfavorable foreign currency transactional effects from hedging of production.
- First quarter 2023 gross margin expected to be down compared to first quarter 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 Q4 2022
+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% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro