5 Stocks in Focus After Releasing Their Earnings Reports

3. PVH Corp. (NYSE:PVH)

Number of Hedge Fund Holders: 37

Shares of PVH Corp. (NYSE:PVH) rose over four percent in the after-hours trading session on Wednesday, June 1, 2022, after announcing better-than-expected financial results for its fiscal first quarter.

PVH Corp. (NYSE:PVH) reported adjusted earnings of $1.92 per share, beating the consensus of $1.60 per share. The quarterly revenue of $2.123 billion also exceeded analysts’ average estimate of $2.09 billion.

PVH Corp. (NYSE:PVH) also released its brand-wise sales results. Calvin Klein revenue jumped 13 percent, while Tommy Hilfiger revenue inched up 2 percent in the quarter. On the downside, Heritage Brands revenue fell 31 percent on a year-over-year basis.

Commenting on the quarter, CEO Stefan Larsson said:

“We are pleased with our first quarter performance in which we delivered strong underlying top-line growth and beat our guidance. This performance is just the beginning of our multi-year journey to execute the PVH+ Plan – our strategic growth plan that we unveiled at our recent Investor Day.”