Columbia Sportswear Backs FY22 Outlook; Stock Up In Pre-market

(RTTNews) - Columbia Sportswear Company (COLM), a maker of sports and fashion accessories, said on Thursday that it has reaffirmed its guidance for the fiscal 2022, following the company's strong performance.

In addition, the sportswear firm has set financial target for the period starting from January 1, 2023, through December 31, 2025.

For the fiscal 2022, the company still projects to post EPS of $5.00 to $5.40, on net sales of $3.44 billion to $3.50 billion. Analysts, on average, expect the company to post net income per share of $5.16, on sales of $3.47 billion.

For the period up to December 31, 2025, the firm expects its EPS to grow at a three-year CAGR of 12 percent to 15 percent, compared with the midpoint of 2022, reaching $7.35 to $7.95 in 2025.

Net sales are also expected to grow at a three-year CAGR of 9 percent to 11 percent, compared with the midpoint of its 2022 outlook, reaching $4.5 billion to $4.7 billion in 2025.

Jim Swanson, CFO of Columbia Sportswear, said: "Given the confidence we have in the collective strength of our brands and our ability to execute our strategic priorities, we are setting a 13 to 17 percent total annual shareholder return target over the three-year time period spanning 2023-2025."

COLM is trading up by 4.23 percent at $73 per share in pre-market on the Nasdaq.