News

Jun 11, 2023

Delta Apparel Down 13.86% To $7.15 After Earnings Beat

Delta Apparel (DLA) said after close Thursday that it earned $0.17 per share in quarter three 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst

Delta Apparel (DLA) said after close Thursday that it earned $0.17 per share in quarter three 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.On the revenue line, the company reported $106.3 million, missing estimates by $9.9 million.In the same quarter a year ago, the company earned $0.88 per share on revenue of $126.9 million. The stock is down 13.86% to $7.15 after the report.The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.Trading in the five days leading up to the report earned Delta Apparel a Bearish Sentiment Rank from InvestorsObserver.Prior to the report, InvestorsObserver gave the stock an overall score of 2.Delta Apparel Inc together with its subsidiaries is an international apparel design, marketing, manufacturing, and sourcing company. It operates its business in two distinct segments: Delta Group and Salt Life Group. The company offers a diverse portfolio of lifestyle basics and branded activewear apparel, headwear, and related accessory products. It specializes in selling casual and athletic products through distribution channels and distribution tiers, including specialty stores, boutiques, department stores, mid and mass channels, e-retailers, and the U.S. military. It also offers its products direct-to-consumer on its websites and in its retail stores. The company derives the maximum revenue from the wholesale of goods through the Delta Group in the United States.