Business
Columbia Sportswear Company Reports Third Quarter and First Nine Months 2021 Financial Results; Updates Full Year 2021 Financial Outlook and Provides Preliminary 2022 Commentary
Financial Highlights Third quarter 2021 net sales increased 15 percent to $804.7 million, compared to third quarter 2020. Third quarter 2021 operating income
About this update from Columbia Sportswear Company
[{"type":"text","content":"\nFinancial Highlights\n\n\nThird quarter 2021 net sales increased 15 percent to $804.7 million, compared to third quarter 2020.\n\n\nThird quarter 2021 operating income increased 56 percent to $133.5 million, or 16.6 percent of net sales, compared to third quarter 2020 operating income of $85.6 million, or 12.2 percent of net sales.\n\n\nThird quarter 2021 diluted earnings per share increased 62 percent to $1.52, compared to $0.94 in third quarter 2020.\n\n\nExited the quarter with $600.6 million in cash and short-term investments and no borrowings.\n\n\nThe Company repurchased $127.2 million of common stock in the first nine months of 2021.\n\n\nOn October 22, 2021, the Board of Directors approved a regular quarterly dividend of $0.26 per share.\n\n\nFull Year 2021 Financial Outlook\n\nThe following forward-looking statements reflect our expectations as of October 28, 2021 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 2021 Financial Outlook section below and the CFO Commentary and Financial Review presentation.\n\n\nNet sales of $3.04 to $3.08 billion (prior $3.13 to $3.16 billion), representing net sales growth of 21.5 to 23.0 percent (prior 25.0 to 26.5 percent) compared to 2020.\n\n\nOperating income of $384 to $405 million (prior $365 to $386 million), representing operating margin of 12.6 to 13.2 percent (prior 11.7 to 12.2 percent).\n\n\nDiluted earnings per share of $4.55 to $4.80 (prior $4.30 to $4.55).\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 third quarter 2021 financial results for the period ended September 30, 2021.\n\nChairman, President and Chief Executive Officer Tim Boyle commented, \"Our third quarter results reflect high consumer demand for our products and strong operating performance amidst unprecedented supply chain challenges. Despite delayed inventory receipts which impacted U.S. wholesale shipments, favorable gross margin performance and expense management fueled above plan earnings. Early-season Fall 2021 sell-through has been encouragin...