Buckle (BKE) Q3 FY2023 earnings: revenue $303 million, down 8.7% on the year

Buckle Inc. (BKE) reported revenue of $303 million for Q3 FY2023, the quarter ended 28 October 2023, down 8.7% on the same quarter a year earlier. Net income was $52 million, down 15.7% on the year, and diluted earnings per share $1.04. The figures are the company's own, from the 10-Q it filed with the SEC on 7 December 2023.

Revenue$303 milliondown 8.7%

Net income$52 milliondown 15.7%

Diluted EPS$1.04

QuarterQ3 FY2023ended 28 October 2023

The quarter, against the one before and a year earlier

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Revenue	303	n/a	n/a	n/a
Cost of revenue	156	n/a	n/a	n/a
Gross profit	147	n/a	n/a	n/a
Gross margin	48.5%	n/a	n/a
Selling, general and administrative	83.2	n/a	n/a	n/a
Operating income	64.1	n/a	n/a	n/a
Operating margin	21.1%	n/a	n/a
Pre-tax income	68.6	n/a	n/a	n/a
Income tax	16.8	n/a	n/a	n/a
Effective tax rate	24.5%	n/a	n/a
Net income	51.8	n/a	n/a	n/a
Net margin	17.1%	n/a	n/a
Diluted EPS	$1.04	n/a	n/a	n/a

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Operating cash flow	63.8	n/a	n/a	n/a
Capital expenditure	10.1	n/a	n/a	n/a
Free cash flow	53.7	n/a	n/a	n/a
Free cash flow margin	17.7%	n/a	n/a
Cash from investing	-10.1	n/a	n/a	n/a
Cash from financing	-17.7	n/a	n/a	n/a
Dividends paid	17.7	n/a	n/a	n/a
Dividend per share	$0.35	n/a	n/a	n/a
Diluted shares, weighted	50m	n/a	n/a	n/a
Shares outstanding at period end	50m	n/a	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Shareholders' equity	474	n/a	n/a	n/a
Debt	0.0	n/a	n/a	n/a
Operating lease liabilities	209	n/a	n/a	n/a
Other liabilities	239	n/a	n/a	n/a
Total liabilities and equity	921	n/a	n/a	n/a
Fixed assets	124	n/a	n/a	n/a
Investments	46.0	n/a	n/a	n/a
Cash and equivalents	312	n/a	n/a	n/a
Receivables	10.3	n/a	n/a	n/a
Inventory	152	n/a	n/a	n/a
Other assets	277	n/a	n/a	n/a
Total assets	921	n/a	n/a	n/a

Questions

What was Buckle's revenue in Q3 FY2023?

Buckle (BKE) reported revenue of $303 million for Q3 FY2023, the quarter ended 28 October 2023, down 8.7% on the same quarter a year earlier.

How much did Buckle earn in Q3 FY2023?

Net income for Q3 FY2023 was $52 million, down 15.7% on the year, and diluted earnings per share $1.04.

When did Buckle report Q3 FY2023 results?

Buckle filed its 10-Q for the quarter ended 28 October 2023 with the SEC on 7 December 2023.

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	303	382	262	282	294	379	272	306	321	399	289	320
Cost of revenue	156	182	142	150	154	180	145	161	167	189	155	167
Gross profit	147	200	121	133	140	199	127	145	154	210	133	153
Gross margin	49%	52%	46%	47%	48%	53%	47%	47%	48%	53%	46%	48%
SG&A	83.2	104	78.3	84.3	85.6	103	83.4	88.7	93.0	109	74.0	97.2
Operating income	64.1	96.5	42.4	48.3	54.5	96.2	43.5	56.3	60.9	101	59.5	55.8
Operating margin	21%	25%	16%	17%	19%	25%	16%	18%	19%	25%	21%	17%
Pre-tax income	68.6	103	46.1	52.0	58.5	101	46.6	59.6	64.5	105	62.1	58.8
Tax rate	24%	23%	25%	24%	25%	24%	24%	25%	24%	23%	25%	24%
Net income	51.8	79.6	34.8	39.3	44.2	77.2	35.2	45.0	48.7	80.8	46.9	44.4
Net margin	17%	21%	13%	14%	15%	20%	13%	15%	15%	20%	16%	14%
Diluted EPS	$1.04	$1.59	$0.69	$0.78	$0.88	$1.53	$0.70	$0.89	$0.96	$1.59	$0.92	$0.87
Operating cash flow	63.8	109	29.9	47.6	43.8	121	31.0	58.4	49.4	112	49.3	46.7
Capital expenditure	10.1	9.3	10.8	11.5	10.2	9.8	11.4	12.0	11.1	10.9	14.7	29.9
Free cash flow	53.7	100	19.1	36.1	33.6	111	19.6	46.4	38.4	101	34.7	16.9
Dividends paid	17.7	144	17.8	17.8	17.8	145	17.9	17.9	17.9	171	18.0	18.0
Shares outstanding	50m	50m	51m	51m	51m	51m	51m	51m	51m	51m	52m	52m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 28 October 2023, filed 7 December 2023, accession 0000885245-23-000056: the filing on EDGAR. All of Buckle Inc.'s filings: EDGAR company page.

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