What were the key takeaways from Deckers Outdoor's earnings call?

What were the key takeaways from Deckers Outdoor’s earnings call?

What does Deckers Outdoor do and what are its main business segments?

What factors drove the changes in Deckers Outdoor's revenue and profit?

What is the revenue and EPS growth rate for Deckers Outdoor year over year?

Did Deckers Outdoor beat or miss consensus estimates last quarter?

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What is Deckers Outdoor's latest dividend and current dividend yield?

- **Revenue & Profit Records**: Q3 revenue $1.96B (+7% YoY), EPS $3.33 (+11% YoY), driven by HOKA (+18%) and UGG (+5%).
- **Brand Momentum**: HOKA DTC +19%, UGG DTC +4%. New products like Cielo X1 3.0 and Lowmel franchise outperformed.
- **Guidance Raised**: FY26 revenue $5.4-5.425B, EPS $6.80-6.85, up 7-8% YoY. Operating margin 22.5%.
- **Tariff Resilience**: FY26 net tariff impact $25M vs. $110M unmitigated, offset by pricing and inventory management.
- **Expansion Plans**: HOKA targeting 25% U.S. athletic specialty penetration, UGG men's and 365 initiatives driving international growth.

**【CEO Summary Section】**
- **Record Q3 Revenue**: $1.96 billion, up 7% YoY, driven by 18% growth in HOKA and 5% in UGG. Global HOKA and UGG revenue increased 15% in international markets and 5% in the U.S.
- **Profit Growth**: Diluted EPS of $3.33, up 11% YoY, fueled by strong gross margins and cost control.
- **Brand Highlights**:
  - **HOKA**: DTC revenue +19%, wholesale +18%, with U.S. DTC growth inflecting positively. New products like Gaviota 6 and Cielo X1 3.0 performed well.
  - **UGG**: Record Q3 revenue ($1.3 billion), +5% YoY, with DTC and wholesale both +4%. Men's and 365 initiatives drove expansion.
- **Future Outlook**: Raised FY26 guidance to $5.4-5.425 billion revenue, with HOKA mid-teens growth and UGG mid-single digits. Target 22.5% operating margin.

**【CFO Financial Commentary】**
- **Revenue & Profit**: Q3 revenue $1.96B, +7% YoY. EPS $3.33, +11% YoY. Gross margin 59.8%, better than expected due to lower tariff impact.
- **Cost Management**: SG&A 28.5% of revenue, down 80bps YoY. Share buybacks ($349M in Q3) to contribute >$0.20 EPS in FY26.
- **Tariff Impact**: FY26 net impact ~$25M vs. $110M unmitigated. Q4 gross margin headwind ~200bps from tariffs.
- **Balance Sheet**: $2.1B cash, $633M inventory (+10% YoY). No debt, $1.8B remaining buyback authorization.

**【Q&A Key Highlights】**
- **HOKA Growth Drivers**: Product innovation (e.g., Cielo X1 3.0), DTC membership program success, and balanced DTC/wholesale growth.
- **UGG Channel Strategy**: Wholesale in-stocks managed to avoid markdowns, DTC used for late-season demand. FY27 UGG growth expected.
- **Tariff Mitigation**: Pricing actions offset ~$85M of $110M tariff impact. FY26 net tariff impact minimal due to inventory timing.
- **DTC Momentum**: HOKA DTC revenue per member and units per transaction outperformed average consumers. UGG DTC growth inflected in Q3.
- **Expansion Opportunities**: HOKA targeting 25% U.S. athletic specialty penetration, 40% China distribution, and 80% Europe run specialty share.


Deckers Outdoor Corporation (DECK) Q3 2026 Earnings Call Transcript

- **Revenue Beat**: Q2 $1.43B (+9% YoY), FY26 guidance $5.35B (+9%).
- **Profit Strength**: Q2 EPS $1.82 (+14%), FY26 EPS $6.30-$6.39.
- **Tariff Mitigation**: $150M tariff headwinds offset by $75-$95M price/cost actions.
- **Brand Momentum**: HOKA +15% first-half, UGG international +38%.
- **Innovation Lead**: Mafate family 10%+ of HOKA revenue, UGG Mel franchise +100% YoY.

**【CEO Summary Section】**
- Q2 revenue grew 9% YoY to $1.43B, driven by 11% HOKA and 10% UGG growth. First-half revenue rose 12% to $2.8B.
- HOKA gained 2pts of U.S. road running market share, with 15% first-half growth. UGG international sales surged 38%, led by Europe and China.
- U.S. consumer sentiment remains cautious, but DTC channels show sequential improvement for HOKA and UGG.
- Spring '26 product launches (Mafate X, Zora Ballet Flat) are outperforming expectations, with strong sell-through rates.
- Targeting 50/50 DTC/wholesale balance, with HOKA DTC up 8% in Q2 and UGG DTC down 10% due to wholesale channel strength.

**【CFO Financial Commentary】**
- Q2 GAAP EPS of $1.82 (+14% YoY) beat estimates, driven by 56.2% gross margin (up 30bps YoY) and $282M share buybacks.
- FY26 guidance: $5.35B revenue (+9%), 56% gross margin, $6.30-$6.39 EPS. Tariffs expected to cost $150M, partially offset by $75-$95M in price/margin mitigation.
- Inventory up 7% to $836M, with strong spring '26 order books and healthy sell-through rates.
- Tax rate of 21.7% in Q2 (vs. 24% prior year) due to one-time benefits.

**【Q&A Key Highlights】**
- **Tariff Impact**: Q2 tariff headwinds delayed due to inventory timing, but FY26 back half expected to face $150M unmitigated tariff costs.
- **DTC/Wholesale Split**: Q3/Q4 DTC growth accelerating as wholesale shipments anniversary. HOKA DTC up 8% in Q2, UGG DTC down 10% due to wholesale channel strength.
- **Consumer Elasticity**: Price increases for premium brands have not hurt demand; HOKA sell-through rates remain strong despite U.S. macro uncertainty.
- **Product Innovation**: HOKA's Mafate family now 10%+ of revenue, UGG's Mel franchise up >100% YoY. Spring '26 order books reflect strong consumer interest.
- **Long-Term Growth**: HOKA targeting billions in incremental market share, UGG maintaining 50+ year legacy with 365-day product strategy.

Deckers Outdoor Corporation (DECK) Q2 2026 Earnings Call Transcript

- **Revenue Growth**: Q1 FY26 revenue up 17% to $965M, driven by HOKA (+20%) and UGG (+19%) outperformance.
- **International Dominance**: International revenue up 50% YoY, with EMEA and APAC leading HOKA/UGG expansion.
- **Gross Margin Pressure**: 55.8% gross margin (-110bps YoY) due to tariffs, promotions, and freight costs.
- **Tariff Mitigation**: $185M FY26 impact, with $75M mitigation via price increases and cost-sharing.
- **Share Buybacks**: $183M repurchased in Q1, $2.4B remaining under authorization.

**【Management Opening Remarks】**
- Erinn Kohler introduced the call, emphasizing forward-looking statements and the company's safe harbor policy.
- Stefano Caroti highlighted Q1 FY26 success, with revenue up 17% to $965M and EPS up 24% to $0.93, driven by HOKA and UGG outperformance.
- CEO emphasized international growth (50% YoY) and U.S. consumer challenges, while maintaining full price integrity.

**【CEO Commentary】**
- **HOKA Performance**: Q1 revenue $653M (+20% YoY), driven by 30% wholesale growth (EMEA, APAC expansion) and 3% DTC growth. Arahi 8 launch success with double-digit sell-through in EMEA and China.
- **UGG Performance**: Q1 revenue $265M (+19% YoY), 30% wholesale growth (men's sandals, 365 initiative) offset by 1% DTC decline. PeakMod style success in U.S., EMEA, and China.
- **Strategic Focus**: Innovation pipeline, brand campaigns (HOKA's "Together We Fly Higher"), and disciplined wholesale expansion.

**【CFO Financial Commentary】**
- **Revenue**: $965M (+17% YoY), above high-end guidance by $55M due to earlier shipments and reorders.
- **Gross Margin**: 55.8% (-110bps YoY) due to channel mix, promotions, and freight costs, partially offset by product mix and FX.
- **SG&A**: $373M (+11% YoY), 38.6% of revenue, driven by marketing, logistics, and store expansion.
- **Tariffs**: FY26 impact estimated at $185M (up from $150M), with $75M mitigation via price increases and cost-sharing.
- **Cash & Inventory**: $1.7B cash, $849M inventory (+13% YoY), $183M share buybacks.

**【Q&A Highlights】**
- **HOKA Channel Dynamics**: Q2 expects balanced growth (10% wholesale, DTC improvement), with U.S. DTC sequential improvement but still lagging international.
- **Inventory Management**: Bondi 8/Clifton 9 inventory cleared, Arahi 8 launch strong with no channel overlap.
- **Tariff Mitigation**: Price increases phased through FY26, no material impact on order books yet.
- **DTC Expansion**: 48 owned stores globally, focus on Europe and APAC with new retail leader.
- **Promotional Activity**: Q1 promotions up vs. prior year, expecting normalized levels in FY26.

Deckers Outdoor Corporation (DECK) Q1 2026 Earnings Call Transcript

- **Record Growth**: 16% revenue, 30% EPS, 230 bps margin expansion highlight 5-year CAGR of 19%+.
- **HOKA Breakthrough**: 24% growth, 50% U.S. awareness, 34% international sales reflect technical innovation and brand building.
- **UGG Resilience**: 13% growth, 39% international sales, and triple-digit men's growth show lifestyle diversification success.
- **2026 Challenges**: $150M tariffs, but 50%+ cost mitigation via price increases and partnerships.
- **Strategic Focus**: 50-50 DTC/wholesale, international expansion, and 365 wearability drive long-term growth.

**【CEO Summary Section】**
- Fiscal 2025 revenue reached $4.986 billion, up 16% YoY, driven by HOKA (+24%) and UGG (+13%).
- Gross margin expanded 230 bps to 57.9%, operating margin rose 200 bps to 23.6%, and EPS increased 30% to $6.33.
- HOKA achieved $2.2 billion in revenue, with international sales at 34% and U.S. sales at $1.5 billion.
- UGG reached $2.5 billion, with international sales at 39% and U.S. sales at $1.5 billion.

**【HOKA Brand Highlights】**
- Global wholesale +24%, DTC +23%, international +39%.
- Bondi 9 and Clifton 10 models launched mid-January with strong wholesale sell-through.
- U.S. brand awareness 50% (vs. 25% last year), international 30% (vs. 20%).
- New Experience Center in Shanghai features tech labs and personalization stations.

**【UGG Brand Performance】**
- Tasman slipper, Ultra Mini boot, and Lowmel sneaker franchises drove growth.
- Men's product initiatives tripled full-price sell-through in China.
- 365 wearability strategy: 25% of revenue now comes from non-winter products.

**【CFO Financial Recap】**
- Q4 2025 revenue: $1.02 billion (+6% YoY)
  - HOKA: $426M incremental revenue
  - UGG: $2.5B with 13% growth
- Gross margin: 56.7% (+50 bps YoY)
- EPS: $1.00 (+22% YoY)
- FY2025 free cash flow: $900M+; share buybacks: $567M

**【2026 Outlook】**
- Up to $150M tariff impact on COGS
- HOKA: mid-teens growth; UGG: mid-single-digit
- Gross margin headwinds from tariffs, promotions, materials
- SG&A: 34.2% of revenue vs. 34% last year
- Share buyback authorization increased to $2.5B

**【Q&A Key Takeaways】**
- HOKA U.S. DTC decline due to in-store model transitions and macro uncertainty
- International DTC growth offset U.S. weakness
- UGG men's business outperformed women's 2:1
- Inventory up 4% YoY due to tariff mitigation and Europe warehouse transition

Deckers Outdoor Corporation (DECK) Q4 2025 Earnings Call Transcript

- **Revenue Record**: Q3 revenue of $1.83 billion (+17% YoY), driven by UGG (+16%) and HOKA (+24%).
- **Profit Growth**: EPS up 19% to $3.0, with gross margin at 60.3%.
- **HOKA Innovation**: Bondi 9 launch success and Cielo X1 2.0 set for February.
- **International Expansion**: 28% growth in international markets, China leading HOKA DTC.
- **Future Outlook**: FY25 revenue target raised to $4.9 billion (+15% YoY), with focus on disciplined growth and margin sustainability.

**【CEO Summary Section】**
- **Record Q3 Performance**: Revenue of $1.83 billion (+17% YoY), driven by UGG (+16%) and HOKA (+24%). Gross margin improved to 60.3%, and EPS rose 19% to $3.0.
- **UGG Highlights**: Global DTC growth of 16%, with double-digit consumer acquisition and retention. Key products like Tasman and Ultra Mini franchises saw strong sell-through, and the Lowell collection doubled in the U.S. and EMEA.
- **HOKA Momentum**: Q3 revenue of $531 million (+24% YoY), with China contributing the largest DTC growth. Bondi 9 launch exceeded expectations, and Cielo X1 2.0 is set for February release.
- **Long-Term Strategy**: Focus on international expansion (28% growth), DTC/wholesale balance (19% growth), and phasing out Koolaburra brand by FY26.

**【CFO Financial Commentary】**
- **Q3 Financials**: GAAP net income of $420 million, with Non-GAAP EPS of $3.0 (+19% YoY). Gross margin expanded 160 bps to 60.3% due to full-price selling and product mix.
- **Guidance Update**: Full-year revenue now expected at $4.9 billion (+15% YoY), up from prior 12% target. Operating margin revised to ~22%, with EPS range of $5.75–$5.80.
- **Q4 Outlook**: FX headwinds (~50 bps) and freight costs (~150 bps) expected to impact gross margin. HOKA Q4 will be largest volume quarter, while UGG faces inventory constraints post-Q3 outperformance.

**【Q&A Key Themes】**
- **Brand Management**: Emphasis on pull-model inventory management to maintain brand health. HOKA's controlled distribution and innovation (e.g., Bondi 9) drive long-term growth.
- **International Growth**: International markets up 28% YoY, with China leading HOKA DTC. UGG Men's and hybrid styles gaining traction globally.
- **Sustainability**: No limitations to $5–$6 billion target; disciplined reinvestment in marketing and innovation supports margin resilience.
- **Risks**: FX volatility, inflation, and supply chain disruptions noted as key risks for FY25 and beyond.

Actual											0.095	-0.0467	0.5967	1.4983	0.1967	0.285	0.61	1.4033	0.4183	0.2767	0.6333	1.7467	0.5767	0.4017	1.1367	2.5183	0.825	0.7533	1.59	3	1	0.93	1.82	3.33
Forecast											0.0154	-0.1843	0.4467	1.1908	0.1216	-0.0151	0.6263	1.3869	0.2174	0.2019	0.6145	1.5991	0.4475	0.3712	0.739	1.9147	0.4948	0.5799	1.2371	2.5824	0.6043	0.6833	1.5838	2.7667
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	+516.88%	+74.66%	+33.58%	+25.82%	+61.76%	+1987.42%	-2.60%	+1.18%	+92.41%	+37.05%	+3.06%	+9.23%	+28.87%	+8.22%	+53.82%	+31.52%	+66.73%	+29.90%	+28.53%	+16.17%	+65.48%	+36.10%	+14.91%	+20.36%

DECK

DECK fundamentals

DECK Q3 2026 Earnings

Earnings Call

You can ask Aime

DECK

DECK fundamentals

DECK Q3 2026 Earnings

Earnings Call

DECK Earnings Call Summary for Q3/20264:30 PM on Jan 29, 2026

DECK Earnings Call Summary for Q2/20264:30 PM on Oct 23, 2025

DECK Earnings Call Summary for Q1/20264:30 PM on Jul 24, 2025

DECK Earnings Call Summary for Q4/20254:30 PM on May 22, 2025

DECK Earnings Call Summary for Q3/20254:30 PM on Jan 30, 2025

You can ask Aime