greeksoup/ stock research
Stock research / United States / M / Q4 FY2023

Macy's (M) Q4 FY2023 earnings: revenue $8.4 billion, down 2.4% on the year

Macy's, Inc. (M) reported revenue of $8.4 billion for Q4 FY2023, the quarter ended 3 February 2024, down 2.4% on the same quarter a year earlier. Net income was -$128 million, and diluted earnings per share $-0.46. The figures are the company's own, from the 10-K it filed with the SEC on 22 March 2024.

Revenue$8.4 billiondown 2.4%
Net income-$128 million
Diluted EPS$-0.46
QuarterQ4 FY2023ended 3 February 2024

The quarter, against the one before and a year earlier

LineQ4 FY2023Q3 FY2023A year earlierChange on the year
Revenue8,3755,038n/an/a
Cost of revenue5,1532,902n/an/a
Gross profit3,2222,136n/an/a
Gross margin38.5%42.4%n/a
Selling, general and administrative2,4052,040n/an/a
Operating income-14983.0n/an/a
Operating margin-1.8%1.6%n/a
Pre-tax income-18043.0n/an/a
Income tax-52.02.0n/an/a
Effective tax raten/a4.7%n/a
Net income-12841.0n/an/a
Net margin-1.5%0.8%n/a
Diluted EPS-$0.46$0.15n/an/a
$ million except per share.
Read moreFourth quarters are the year less the first three quarters. 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. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

LineQ4 FY2023Q3 FY2023A year earlierChange on the year
Operating cash flow1,147-113n/an/a
Capital expenditure14695.0n/an/a
Free cash flow1,001-208n/an/a
Free cash flow margin12.0%-4.1%n/a
Cash from investing-197-185n/an/a
Cash from financing-280224n/an/a
Depreciation and amortisation232232n/an/a
Share-based compensation2.015.0n/an/a
Buybacks0.00.0n/an/a
Dividends paid46.045.0n/an/a
Dividend per sharen/a$0.33n/an/a
Diluted shares, weighted278m278mn/an/a
Shares outstanding at period end274m274mn/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

LineQ4 FY2023Q3 FY2023A year earlierChange on the year
Shareholders' equity4,1374,144n/an/a
Debt2,9982,997n/an/a
Operating lease liabilities2,974n/an/an/a
Finance lease liabilities12.0n/an/an/a
Other liabilities6,12510,970n/an/a
Total liabilities and equity16,24618,111n/an/a
Fixed assets5,3085,813n/an/a
Goodwill828828n/an/a
Intangible assets430431n/an/a
Cash and equivalents1,034364n/an/a
Receivables293n/an/an/a
Inventory4,3616,025n/an/a
Other assets3,9924,650n/an/a
Total assets16,24618,111n/an/a

Quarterly results, the last 12 quarters

Q3 FY2023 †Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue5,0388,3755,0005,0964,9038,0074,7934,9994,9137,9164,8925,059
Cost of revenue2,9025,1532,9462,9382,8644,9922,7952,9002,8554,9472,8602,848
Gross profit2,1363,2222,0542,1582,0393,0151,9982,0992,0582,9692,0322,211
Gross margin42%38%41%42%42%38%42%42%42%38%42%44%
SG&A2,0402,4051,9111,9732,0642,3821,9131,9442,0242,3591,9521,960
Operating income83.0-14912522264.049894.014942.0745112244
Operating margin2%-2%2%4%1%6%2%3%1%9%2%5%
Pre-tax income43.0-18098.019535.043568.01155.066193.0227
Tax rate5%n/a37%23%20%21%44%24%-120%23%32%26%
Net income41.0-12862.015028.034238.087.011.050663.0169
Net margin1%-2%1%3%1%4%1%2%0%6%1%3%
Diluted EPS$0.15-$0.46$0.22$0.53$0.10$1.21$0.13$0.31$0.04$1.84$0.23$0.62
Operating cash flow-1131,1471298.0-1671,308-64.0319-8.01,183292294
Capital expenditure95.014615411712811910079.093.010188.065.0
Free cash flow-2081,001-25.0-109-2951,189-164240-1011,082204229
Buybacks0.00.00.00.00.01.097.052.051.050.051.053.0
Dividends paid45.046.048.048.048.048.051.049.049.048.050.051.0
Shares outstanding274m274m276m277m278m278m272m269m266m263m263m261m
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. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS 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 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-K for the period ended 3 February 2024, filed 22 March 2024, accession 0001628280-24-012734: the filing on EDGAR. All of Macy's, Inc.'s filings: EDGAR company page.

The same record on your computer

GreekSoup is also a free program for your own computer. It reads these same filings for the names you follow, refreshed as they land, with no account. One pasted line installs it.

Install