5 Companies in Focus After Posting Their Financial Results

3. Levi Strauss & Co. (NYSE:LEVI)

Number of Hedge Fund Holders: 26

Shares of Levi Strauss & Co. (NYSE:LEVI) marginally moved down on Thursday, April 7, 2022, despite announcing better-than-expected financial results for its fiscal first quarter. The company attributed the latest performance to higher t-shirts and jeans sales and improved pricing. However, the suspension of business operations in Russia marginally impacted its quarterly sales.

Levi Strauss & Co. (NYSE:LEVI) earned 46 cents per share on an adjusted basis, up from 32 cents per share in the comparable period of 2021. Analysts were looking for earnings of 42 cents per share. Revenue for the quarter advanced 22 percent on a year-over-year basis to $1.59 billion and exceeded analysts’ average estimate of $1.55 billion.

Levi Strauss & Co. (NYSE:LEVI) also reiterated the financial outlook for its fiscal 2022. It continues to expect adjusted earnings in the range of $1.50 – $1.56 per share and revenue growth between 11 – 13 percent for the full year.

Commenting on the guidance, CFO Harmit Singh said:

“The ongoing consumer demand across our portfolio of brands and our proven ability to deliver profitable growth give us the confidence to reaffirm our full-year outlook despite the incremental headwinds from ongoing macro challenges.”