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G III Apparel Group (GIII) Q3 FY2023 earnings: revenue $1.1 billion, down 1.0% on the year

G III Apparel Group Ltd. (GIII) reported revenue of $1.1 billion for Q3 FY2023, the quarter ended 31 October 2023, down 1.0% on the same quarter a year earlier. Net income was $128 million, up 108.9% on the year, and diluted earnings per share $2.74. The figures are the company's own, from the 10-Q it filed with the SEC on 6 December 2023.

Revenue$1.1 billiondown 1.0%
Net income$128 millionup 108.9%
Diluted EPS$2.74
QuarterQ3 FY2023ended 31 October 2023

The quarter, against the one before and a year earlier

LineQ3 FY2023Quarter beforeA year earlierChange on the year
Revenue1,067n/an/an/a
Cost of revenue634n/an/an/a
Gross profit433n/an/an/a
Gross margin40.6%n/an/a
Selling, general and administrative236n/an/an/a
Operating income190n/an/an/a
Operating margin17.8%n/an/a
Pre-tax income176n/an/an/a
Income tax48.8n/an/an/a
Effective tax rate27.7%n/an/a
Net income128n/an/an/a
Net margin12.0%n/an/a
Diluted EPS$2.74n/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 flow13.8n/an/an/a
Capital expenditure4.5n/an/an/a
Free cash flow9.3n/an/an/a
Free cash flow margin0.9%n/an/a
Cash from investing-4.5n/an/an/a
Cash from financing-4.8n/an/an/a
Depreciation and amortisation6.6n/an/an/a
Share-based compensation4.9n/an/an/a
Buybacks0.0n/an/an/a
Diluted shares, weighted47mn/an/an/a
Shares outstanding at period end46mn/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' equity1,503n/an/an/a
Redeemable equity-1.4n/an/an/a
Debt403n/an/an/a
Operating lease liabilities184n/an/an/a
Other liabilities661n/an/an/a
Total liabilities and equity2,749n/an/an/a
Fixed assets52.0n/an/an/a
Cash and equivalents197n/an/an/a
Receivables863n/an/an/a
Inventory592n/an/an/a
Other assets1,045n/an/an/a
Total assets2,749n/an/an/a

Questions

What was G III Apparel Group's revenue in Q3 FY2023?

G III Apparel Group (GIII) reported revenue of $1.1 billion for Q3 FY2023, the quarter ended 31 October 2023, down 1.0% on the same quarter a year earlier.

How much did G III Apparel Group earn in Q3 FY2023?

Net income for Q3 FY2023 was $128 million, up 108.9% on the year, and diluted earnings per share $2.74.

When did G III Apparel Group report Q3 FY2023 results?

G III Apparel Group filed its 10-Q for the quarter ended 31 October 2023 with the SEC on 6 December 2023.

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue1,0677656106451,087840584613989771536554
Cost of revenue634483351369655508337363607486188304
Gross profit433282259276432332247250382285348250
Gross margin41%37%42%43%40%40%42%41%39%37%65%45%
SG&A236221237229259245231227260260255231
Operating income19046.313.541.516671.88.516.3112-29.185.210.8
Operating margin18%6%2%6%15%9%1%3%11%-4%16%2%
Pre-tax income17638.27.933.616167.411.515.9113-30.285.614.1
Tax rate28%27%29%28%29%28%32%31%29%n/a22%-43%
Net income12828.95.824.211548.87.810.980.6-31.966.520.2
Net margin12%4%1%4%11%6%1%2%8%-4%12%4%
Diluted EPS$2.74$0.61$0.12$0.53$2.55$1.07$0.17$0.25$1.84-$0.76$1.50$0.46
Operating cash flow13.836145.549.3-11233393.875.1-97.3228-2.0181
Capital expenditure4.59.012.710.68.59.88.110.39.17.78.59.1
Free cash flow9.335232.838.8-12032485.764.7-106220-10.4172
Buybacks0.00.028.431.60.00.019.724.65.40.0n/an/a
Dividends paidn/an/an/an/an/an/an/an/an/an/a4.24.3
Shares outstanding46m45m45m44m44m44m43m42m42m42m42m43m
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 31 October 2023, filed 6 December 2023, accession 0001558370-23-019515: the filing on EDGAR. All of G III Apparel Group Ltd.'s filings: EDGAR company page.

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