WASHINGTON (dpa-AFX) - Shares of PVH Corp. (PVH) were down 7 percent in Wednesday's extended trading after the company reduced its earnings outlook for the year ahead, citing the negative impact of US tariffs. The company also reported a loss in its first quarter, compared to a profit last year.
For full-year 2026, the apparel company now expects adjusted earnings per share between $10.75 and $11.00, compared to the earlier guidance of $12.40-$12.75.
The revised outlook, according to PVH Corp, is due to estimated net negative impact related to the tariffs currently in place for goods coming into the U.S., including an unmitigated impact of around $1.05 per share and a partially offsetting impact of planned mitigation actions. It also reflects an estimated positive impact of approximately $0.10 per share related to foreign currency translation, the company added.
On average, analysts expect the company to post annual earnings of $11.24 per share. Analysts estimates, typically, exclude special items.
In the second quarter, the company expects adjusted earnings per share in the range of $1.85 to $2.00. The earnings per share outlook includes an estimated negative unmitigated impact related to the tariffs currently in place for goods coming into the U.S. of approximately $0.20 per share.
On average, 3 analysts expect the company to post earnings of $2.1 per share in the second quarter.
In its first quarter, the company reported loss of 44.8 million or 0.88 per share, compared to profit of $151.4 million or $2.59 per share in the year-ago quarter. Adjusted earnings came in at $118.6 million or $2.30 per share, compared to $142.9 million or $2.45 per share in the same period last year.
Quarterly revenues rose 2 percent to $1.98 billion from $1.95 billion in the previous-year period.
On the NYSE, the stock fell 7 percent on Wednesday's after hours to $74.82. PVH closed Wednesday's trading at $80.81, down 2 percent.
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