Columbia Sportswear Co

Latest Results (26.12.2024):

Net Sales Decline

In the third quarter of 2024, Columbia Sportswear Co reported a 5 percent decrease in net sales, amounting to $931.8 million, compared to the same period in 2023. This decline was attributed to lower Fall '24 wholesale orders and weak consumer demand in the U.S., partially due to warm weather and challenges in the outdoor category.

Operating Income and Earnings

Columbia Sportswear Co's operating income for the third quarter of 2024 was $112.5 million, representing 12.1 percent of net sales. This is a decrease from the third quarter of 2023, where operating income was $134.6 million, or 13.7 percent of net sales. The diluted earnings per share also saw a decline, from $1.70 in the third quarter of 2023 to $1.56 in the same period of 2024.

Cash Position and Share Repurchase

As of the end of the third quarter of 2024, Columbia Sportswear Co held $373.9 million in cash, cash equivalents, and short-term investments, with no borrowings. During the first nine months of 2024, the company repurchased $230.9 million worth of common stock. Additionally, the Board of Directors approved a $600 million increase to the company's share repurchase authorization on October 24, 2024.

Dividend Announcement

Columbia Sportswear Co's Board of Directors declared a regular quarterly cash dividend of $0.30 per share. This dividend is payable on December 4, 2024, to shareholders of record as of November 20, 2024, reflecting the company's commitment to returning value to its shareholders despite the challenging market conditions.

Full Year 2024 Financial Outlook

For the full year 2024, Columbia Sportswear Co expects net sales to decrease by 5.0 to 3.0 percent, resulting in net sales of $3.31 to $3.38 billion. The operating income is projected to be between $257 to $284 million, with a diluted earnings per share forecasted to range from $3.70 to $4.05. These projections reflect the company's cautious outlook amid ongoing market uncertainties.