Levi Strauss and Co. Announces Impressive Q4 Financial Results

Levi Strauss and Co. revealed on Wednesday that its net revenue for the fourth quarter of fiscal 2024 soared to $1.8 billion, marking a 12% increase from the same period in 2023. The period ending December 1 also saw net income climb by 44% to $183 million, with diluted earnings per share leaping to $0.46 from $0.32.

Annual Financial Highlights Show Mixed Results

Over the year, the company amassed $6.4 million in revenue, a 3% rise from 2023. However, net income dipped by 16% to $211 million, and diluted earnings per share decreased to $0.52 from the previous year's $0.62. Despite these fluctuations, Levi Strauss returned $289 million to its shareholders, a 45% increase from the prior year.

CFO Comments on Q4 Performance

"The fourth quarter showcased accelerating revenue growth, with an 8% increase on an organic basis, enhanced DTC profitability, robust cash flow generation, and better-than-anticipated bottom-line results," stated Chief Financial Officer Harmit Singh. Following the announcement, the company's shares fell by 4.09%, trading at $17.35 each.