Shares of Canada Goose Holdings Inc (NYSE:GOOS) soared in pre-market trade Friday after the maker of luxury parkas and winter wear reported a surprise fiscal fourth-quarter profit as revenue crushed expectations.
The company’s US-listed shares rose nearly 17.9% to US$54.05 before the bell.
The Toronto-based company reported fourth-quarter earnings of C$0.07 per share on revenue of C$98.8mln. This handily beat expectations as the consensus estimate was a loss of $0.08 per share on revenue of C$74.6mln. Revenue grew 155.9% on a year-over-year basis.
This was a huge improvement compared to a loss of C$23.4mln, or C$0.23 per share, a year earlier.
“Our execution in fiscal 2018 was exceptional across all growth strategies and key metrics. These results reinforce my belief that we are still just scratching the surface of our global potential,” said Canada Goose CEO Dani Reiss.
“As we continue to bring more Canada Goose to more of the world, we are resolutely focused on the long term and what we need to get there. Fiscal 2019 will be another exciting year, as we make significant strategic investments in infrastructure and people to support our foundation for enduring growth," he added.
Bright outlook
The company said it expects fiscal 2019 earnings growth of at least 25%, or earnings of C$0.81 per share or more, and revenue growth of at least 20%, or revenue of at least C$539.7mln.
The current consensus earnings estimate is C$0.68 per share on revenue of C$508.5mln for the year ending March 31, 2019.