Stock of Hoka sneaker maker Deckers soars 10% on earnings beat

Deckers Outdoor Corp. (DECK) shares rallied 10% in the aftermarket Thursday after the maker of Ugg boots and Hoka sneakers reported fiscal second-quarter results that sailed past Wall Street expectations, saying demand for its products continued to be strong. Deckers earned $179 million, or $6.82 a share, in the quarter, compared with $102 million, or $3.80 a share, in the year-ago period. Revenue rose 25% to $1.092 billion, the company said. Analysts polled by FactSet expected Deckers to report adjusted earnings of $4.43 a share on sales of $961 million. Deckers called for sales of about $4.025 billion for the year, compared with a FactSet estimate of $4 billion. "The strength of demand for our Hoka and Ugg brands continued to drive exceptional performance," Chief Executive Dave Powers said in a statement.

-Claudia Assis

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10-26-23 1720ET

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