Business
Columbia Sportswear Company Reports First Quarter 2022 Financial Results and Updates Full Year 2022 Financial Outlook; Announces $500 Million Increase to Stock Repurchase Authorization
First Quarter 2022 Highlights Net sales increased 22 percent to a record $761.5 million, compared to first quarter 2021. Operating income increased 19
About this update from Columbia Sportswear Company
[{"type":"text","content":"\nFirst Quarter 2022 Highlights\n\n\nNet sales increased 22 percent to a record $761.5 million, compared to first quarter 2021.\n\n\nOperating income increased 19 percent to $83.7 million, or 11.0 percent of net sales, compared to first quarter 2021 operating income of $70.5 million, or 11.3 percent of net sales.\n\n\nDiluted earnings per share increased 23 percent to $1.03, compared to first quarter 2021 diluted earnings per share of $0.84.\n\n\nThe Company repurchased $217.3 million of common stock during the first quarter.\n\n\nOn April 22, 2022, the Board of Directors approved a $500 million increase to the Company's share repurchase authorization.\n\n\nFull Year 2022 Financial Outlook\n\nThe following forward-looking statements reflect our expectations as of April 28, 2022 and are subject to significant risks and business uncertainties, including those factors described under “Forward-Looking Statements” below. Additional disclosures and financial outlook details can be found in the Full Year 2022 Financial Outlook section below, our Current Report on Form 8-K filed April 28, 2022, and the CFO Commentary and Financial Review presentation attached thereto.\n\n\nNet sales of $3.63 to $3.69 billion (unchanged) representing net sales growth of 16 to 18 percent (unchanged) compared to 2021.\n\n\nOperating income of $477 to $502 million (prior $472 to $498 million), representing operating margin of 13.2 to 13.6 percent (prior 13.0 to 13.5 percent).\n\n\nDiluted earnings per share of $5.70 to $6.00 (prior $5.50 to $5.80). \n\n\n \n\n PORTLAND, Ore.--(BUSINESS WIRE)--\nColumbia Sportswear Company (NASDAQ: COLM, the \"Company\"), a leading innovator in outdoor, active and everyday lifestyle apparel, footwear, accessories and equipment products, today announced first quarter 2022 financial results for the period ended March 31, 2022.\n\nChairman, President and Chief Executive Officer Tim Boyle commented, \"Our strong financial performance in the first quarter, including 22 percent net sales and 23 percent diluted earnings per share growth, validates our strategies and demonstrates that our brands are resonating with consumers. Business momentum was broad based, with growth across all brands, channels and geographies. SOREL led the charge with 37 percent year-over-year growth, despite supply challenges, highlighting phenomenal demand ...