Home  »  Stocks to Invest   »  Fossil Group, Inc. (FOSL) stock is soaring in the ...

Fossil Group, Inc. (FOSL) stock is soaring in the premarket: Here’s Why

Shares of the Fossil Group, Inc. (FOSL) stock were rising in the premarket following the announcement of third-quarter 2021 financial results. FOSL stock price saw a surge of 32.37% to reach $18.32 a share at the time of this writing. The stock was gloomy in the previous trade and went down by 4.88% at closing. Let’s dig in to understand the recent happenings.


3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for free

Sponsored


Third Quarter 2021 Financial Results:

  • Fossil stock reported an increase of 13% in net sales of $491.8 million in the third quarter of 2021. On a currency basis, the net sales increased by 11%. In the same quarter of the previous year, net sales were $435.5 million. Total digital sales represented a growth of 28% on a constant currency basis in the reported quarter.
  • The gross profit of the FOSL stock amounted to $259.5 million in the reported quarter as compared to $229.8 million in the same tenure of the previous year. Gross margin of 52.8% was flat compared to the same quarter of last year.
  • FOSL stock spent $211.7 million in operating expenses in the third quarter of 2021. This compares to $212.3 million in the same quarter of last year. Operating expenses as a percentage of net sales were 43.0% and 48.7% in the third quarter of 2021 and 2020 respectively.
  • Operating income of FOSL stock significantly increased to reach $47.8 million in the third quarter of 2021 from $17.5 million in the same quarter of last year. Operating margin jumped from 4.0% in Q3,2020 to 9.7% in Q3,2021.
  • Adjusted Operating income reached $53.8 million in the recently reported quarter compared to $27.8 million in the same quarter of last year. FOSL stock recorded an adjusted EBITDA of $62.5 million in the third quarter of 2021.
  • Net income reached $31.4 million in the reported quarter, significantly higher than $16.0 million in the prior-year same period.
  • By the end of the third quarter, Fossil stock had $182 million in cash equivalents and $123 million under revolving credit facility making total liquidity of $305 million. Inventories of the FOSL stock increased by 11% to reach $398 million and debt was $139 million by the end of the reported quarter.

Outlook of FOSL stock:

Fossil stock has projected a 17% to 19% increase in net sales across the globe for the fiscal year 2021. The company expects that its adjusted EBITDA margin will be between 8.5% to 9.5% for the fiscal year 2021.FOSL stock anticipated that its worldwide net sales for the 13-week quarter ending January 1, 2021, will show a growth of 18% to 25% from the same period of last year.

Leave a Comment

Your email address will not be published. Required fields are marked *

Related Posts

635

SPECIAL GIFT

WE HAVE A GIFT FOR YOU

Download Free eBook For

7 GROWTH STOCKS FOR 2021

100% free. stop anytime no spam