PVH 2026 Q3 Earnings EPS Falls 96.3% Despite Revenue Growth

PVH reported Q3 2026 earnings with revenue up 1.7% to $2.29 billion, surpassing expectations. The company narrowed full-year revenue guidance to low single-digit growth and raised non-GAAP EPS guidance to $10.85–$11.00, reflecting disciplined cost management and strategic brand execution.

Revenue

PVH’s total revenue increased by 1.7% to $2.29 billion in 2026 Q3, driven by strong performances across its key segments. Tommy Hilfiger contributed $1.22 billion, Calvin Klein added $1.02 billion, and Heritage Brands accounted for $58.40 million. The growth underscores the company’s ability to leverage its iconic brand portfolios while navigating macroeconomic headwinds.

Earnings/Net Income

PVH’s EPS declined sharply to $0.09 in 2026 Q3, down 96.3% from $2.37 in 2025 Q3, while net income fell to $4.20 million, a 96.8% decline year-over-year. The significant drop in profitability highlights challenges in margin compression and cost pressures despite revenue growth.

Post-Earnings Price Action Review

The strategy of buying PVH shares on the earnings release date after a revenue raise and selling 30 days later resulted in no return over the past three years. With a CAGR of 0.00% and an excess return of -39.44%, the approach underperformed the benchmark significantly. A maximum drawdown of 0.00% and a Sharpe ratio of 0.00% further underscore the strategy’s lack of risk-adjusted returns, suggesting limited investor confidence in post-earnings momentum.

CEO Commentary

CEO Stefan Larsson highlighted disciplined execution of the PVH+ Plan, with Calvin Klein driving growth in underwear and fashion denim and Tommy Hilfiger strengthening lifestyle categories. He noted challenges in Europe’s fall market but emphasized outperformance in digital channels and APAC, reaffirming confidence in the full-year outlook.

Guidance

PVH narrowed 2025 full-year revenue growth to “low single-digits” and raised non-GAAP EPS guidance to $10.85–$11.00, factoring in $1.05/share unmitigated tariffs and $0.45/share foreign currency tailwinds. Fourth-quarter guidance includes revenue growth of “slightly to up low single-digits” and non-GAAP EPS of $3.20–$3.35.

Additional News

PVH faces ongoing tariff pressures, with management noting a $1.05/share impact. The company also announced a CFO transition, promoting the head of FP&A to interim CFO. Regional performance showed growth in the Americas and Asia-Pacific, though Europe faced challenges due to a soft macro environment.