NASDAQ$SHOO

Steven Madden Ltd. · Q4 2023 earnings

Q4 2023 earnings · · Investor relations

Briefing

Delivered fourth quarter results that exceeded expectations with organic revenue growth in wholesale and direct-to-consumer channels, supplemented by the acquisition of Almost Famous, and drove strong improvement in Adjusted operating margin.

Steve Madden reported strong Q4 2023 results, exceeding expectations in both revenue and earnings. The company saw organic growth in both its wholesale and direct-to-consumer channels, boosted by the acquisition of Almost Famous. Adjusted operating margin also showed significant improvement compared to the previous year.

  • Delivered fourth quarter results that exceeded expectations on both the top and bottom lines.
  • Saw organic revenue growth in both the wholesale and direct-to-consumer channels.
  • Revenue growth supplemented by the contribution from the newly acquired Almost Famous.
  • Drove strong improvement in Adjusted operating margin compared to the same period in the prior year.

Headline financials

Total Revenue

$517M

Previous: $471M+9.9%
EPS (adj)

$0.61

Previous: $0.44+38.6%
Capital Expenditures

-$5.57M

Previous: $6.24M-189.3%
Free Cash Flow

$146M

Previous: $195M-25.1%
Net Income

$35.9M

Previous: $31.8M+12.9%
Operating Income

$43.8M

Previous: $39.8M+10.2%
Gross Profit

$212M

Previous: $199M+6.8%
Stock-Based Comp

$5.98M

Previous: $6.1M-2.0%

Revenue & EPS history

Steve Madden · Revenue · Quarterly

$517M

Q4 2023+9.9%vs Q4 2022
Beat estimate in 9 of 15 quarters(60%)
ActualEstimate

Revenue by segment

Steve Madden · $116M total across 1 segment · Q3 2023

  • Direct-to-Consumer
    $116M-1.8%

Forward guidance

For 2024, the Company expects revenue will increase 11% to 13% compared to 2023. The Company expects diluted EPS will be in the range of $2.55 to $2.65.

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 2023

Historical avgQ4 2023

+1.7%

Avg return

Earnings day

+1.3%

Avg return

5 days after

+2.8%

Avg return

30 days after

62%

40 / 65 earnings

Positive

+22.0%

Q2 2012

Best reaction

-10.2%

Q3 2017

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+2.4%-2.8%+10.9%
Q4 2025-6.5%-4.7%-11.4%
Q3 2025+13.7%+14.8%+33.6%
Q1 2025+16.4%+31.2%+24.0%
Q4 2024-8.0%-19.6%-29.7%
Q3 2024+0.9%+1.7%+1.2%
Q2 2024-2.1%-6.5%+1.4%
Q1 2024-0.7%+0.2%+10.0%
Q4 2023-1.9%-1.9%-3.1%
Q3 2023-1.5%+0.0%+15.5%
Q2 2023+9.6%+7.0%+6.2%
Q1 2023+0.7%+0.1%+1.7%
Q4 2022+6.4%+8.2%+4.1%
Q3 2022-2.1%+3.5%+17.5%
Q2 2022-3.5%-1.1%-7.6%
Q1 2022+0.9%+0.7%-10.0%
Q4 2021+5.1%+0.5%-2.1%
Q3 2021+11.1%+11.3%+2.7%
Q2 2021+1.2%+0.0%-4.6%
Q1 2021-4.7%-1.1%-2.6%
Q4 2020+2.5%-6.6%+1.6%
Q3 2020+6.3%+3.7%+43.0%
Q2 2020+1.5%-5.3%-4.3%
Q1 2020-8.8%-2.8%-11.4%
Q4 2019-6.2%-7.5%-31.4%
Q3 2019+14.7%+15.2%+19.9%
Q2 2019+2.3%-9.0%-1.6%
Q1 2019+5.4%+6.9%-9.7%
Q4 2018+0.6%+0.9%+3.2%
Q3 2018+7.3%+11.3%+8.1%
Q2 2018+2.6%+4.0%+7.1%
Q1 2018-0.1%+2.3%+9.5%
Q4 2017-0.7%-1.4%-0.7%
Q3 2017-10.2%-10.3%-0.1%
Q2 2017+2.0%+0.4%+3.4%
Q1 2017+2.8%+3.5%+0.3%
Q4 2016+0.8%-1.6%+2.1%
Q3 2016+5.7%+7.8%+13.5%
Q2 2016-5.3%-2.9%-2.3%
Q1 2016-3.3%
Q4 2015+3.7%
Q3 2015+4.2%
Q2 2015-0.1%
Q1 2015+5.4%
Q4 2014+6.5%
Q3 2014+1.8%
Q2 2014-7.6%
Q1 2014-3.4%
Q4 2013+3.6%
Q3 2013+4.8%
Q2 2013+3.7%
Q1 2013+2.6%
Q4 2009-0.7%
Q4 2012-1.5%
Q3 2012+0.0%
Q2 2012+22.0%
Q1 2012-3.8%
Q4 2011+4.1%
Q3 2010-4.8%
Q3 2011-4.8%
Q2 2011+2.7%
Q2 2010+4.2%
Q1 2010+4.2%
Q4 2010+4.2%
Q1 2011+4.2%

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