Columbia Sportswear Lifts FY22 Earnings Outlook

(RTTNews) - While reporting its results for the fourth quarter on Thursday, Columbia Sportswear Company (COLM) lifted its earnings outlook for the full year 2022, while maintaining its revenue outlook.

Looking forward to the full year, the company now expects earnings of $5.70 to $6.00 per share, compared to prior estimate of $5.50 to $5.80 per share. The company continues to expect net sales of $3.63 to $3.69 billion, which represents sales growth of 16 to 18 percent compared to 2021.

Analysts polled by Thomson Reuters currently estimate earnings of $5.75 per share on revenues of $3.67 billion.

The company said it has paused taking any new orders from Russia-based distributor and removed any future sales to it from this outlook. This equates to an approximate 2 percent headwind to full year 2022 consolidated net sales.

On April 22, 2022, the Board of Directors approved a $500 million increase to the company's share repurchase authorization.

The Board of Directors approved a regular quarterly cash dividend of $0.30 per share, payable on June 2, 2022 to shareholders of record on May 19, 2022.