By Davit Kirakosyan

After the announcement of Deckers’ NYSE: shares traded more than 12 percent higher. EPS came in at $2.51, which was significantly above the $1.31 consensus. The revenue rose 31.2% to $736m year-over-year, surpassing the consensus estimate at $639.2 millions.

The wholesale revenue increased 37.6% to $448.8million, while the Direct-to-Consumer revenue rose 22.2% to $287.2million.

Deckers had another record-breaking fiscal year in 2022, when we achieved both revenue and earnings growth per share above twenty percent,” stated Dave Powers. Our portfolio has grown to more than a billion dollars in revenue over the past two years. We have made progress toward key long-term strategic goals and maintained top-tier profitability despite experiencing unprecedented disruptions across our global supply chains. While I’m proud of the performance we have achieved over the past few years, the strength of our brands, and the people behind them, makes me even more optimistic about what lies ahead.

According to its 2023 outlook, the company expects EPS to be in the $17.40 to $18.25 range, as opposed to $18.34 and revenues to range from $3.45 to 3.5 billion, as opposed to $3.45 billion.

The company made another announcement today. Wendy Yang will be stepping aside as President of Performance Lifestyle. She has led the HOKA/Teva brands to new heights over seven years. The President of Omni-Channel Stefano Caroti assumes Yang’s duties (who will still be part of the company on an interim basis as the company undertakes a leadership review).

Deckers’ shares fell 38% in the year-to-date earnings results.