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Carters (CRI) Q3 FY2023 earnings: revenue $792 million, down 3.3% on the year

Carters Inc. (CRI) reported revenue of $792 million for Q3 FY2023, the quarter ended 30 September 2023, down 3.3% on the same quarter a year earlier. Net income was $66 million, up 1.8% on the year, and diluted earnings per share $1.78. The figures are the company's own, from the 10-Q it filed with the SEC on 27 October 2023.

Revenue$792 milliondown 3.3%
Net income$66 millionup 1.8%
Diluted EPS$1.78
QuarterQ3 FY2023ended 30 September 2023

The quarter, against the one before and a year earlier

LineQ3 FY2023Quarter beforeA year earlierChange on the year
Revenue792n/an/an/a
Cost of revenue415n/an/an/a
Gross profit376n/an/an/a
Gross margin47.5%n/an/a
Selling, general and administrative289n/an/an/a
Operating income93.4n/an/an/a
Operating margin11.8%n/an/a
Interest expense8.6n/an/an/a
Pre-tax income85.4n/an/an/a
Income tax19.2n/an/an/a
Effective tax rate22.5%n/an/a
Net income66.1n/an/an/a
Net margin8.4%n/an/a
Diluted EPS$1.78n/an/an/a
$ million except per share.
Read moreFree 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

LineQ3 FY2023Quarter beforeA year earlierChange on the year
Operating cash flow-3.5n/an/an/a
Capital expenditure16.1n/an/an/a
Free cash flow-19.6n/an/an/a
Free cash flow margin-2.5%n/an/a
Cash from investing-16.1n/an/an/a
Cash from financing14.7n/an/an/a
Depreciation and amortisation15.1n/an/an/a
Share-based compensation3.9n/an/an/a
Buybacks27.6n/an/an/a
Dividends paid27.9n/an/an/a
Dividend per share$0.75n/an/an/a
Diluted shares, weighted36mn/an/an/a
Shares outstanding at period end37mn/an/an/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

LineQ3 FY2023Quarter beforeA year earlierChange on the year
Shareholders' equity785n/an/an/a
Debt567n/an/an/a
Operating lease liabilities427n/an/an/a
Other liabilities540n/an/an/a
Total liabilities and equity2,320n/an/an/a
Fixed assets181n/an/an/a
Goodwill209n/an/an/a
Intangible assets298n/an/an/a
Cash and equivalents169n/an/an/a
Receivables241n/an/an/a
Inventory621n/an/an/a
Other assets601n/an/an/a
Total assets2,320n/an/an/a

Questions

What was Carters' revenue in Q3 FY2023?

Carters (CRI) reported revenue of $792 million for Q3 FY2023, the quarter ended 30 September 2023, down 3.3% on the same quarter a year earlier.

How much did Carters earn in Q3 FY2023?

Net income for Q3 FY2023 was $66 million, up 1.8% on the year, and diluted earnings per share $1.78.

When did Carters report Q3 FY2023 results?

Carters filed its 10-Q for the quarter ended 30 September 2023 with the SEC on 27 October 2023.

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue792858661564758860630585758925681615
Cost of revenue415n/an/a281402n/an/a304416n/an/a203
Gross profit376418315283356411291282342400294413
Gross margin48%49%48%50%47%48%46%48%45%43%43%67%
SG&A289287265247285302270281318320270276
Operating income93.413655.039.577.083.226.14.029.184.728.4140
Operating margin12%16%8%7%10%10%4%1%4%9%4%23%
Interest expense8.67.67.97.97.48.27.87.97.211.411.811.3
Pre-tax income85.413849.934.470.775.821.31.714.875.919.9137
Tax rate23%23%24%20%18%19%27%74%22%15%28%23%
Net income66.110738.027.658.361.515.50.411.664.214.3105
Net margin8%12%6%5%8%7%2%0%2%7%2%17%
Diluted EPS$1.78$2.90$1.04$0.76$1.62$1.71$0.43$0.01$0.32$1.76$0.39$2.87
Operating cash flow-3.5323-25.6117-80.4287-48.640.3-1282596.4196
Capital expenditure16.117.412.012.315.316.510.316.216.111.07.05.8
Free cash flow-19.6306-37.6105-95.7271-59.024.1-144248-0.5190
Buybacks27.632.59.024.816.70.00.00.00.00.0n/an/a
Dividends paid27.927.529.329.228.828.829.09.19.19.19.29.1
Shares outstanding37m37m37m36m36m36m36m36m37m36m37m37m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* 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 30 September 2023, filed 27 October 2023, accession 0001060822-23-000152: the filing on EDGAR. All of Carters Inc.'s filings: EDGAR company page.

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