2024 Q3 Form 10-Q Financial Statement

#000106082224000139 Filed on July 26, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $758.5M $564.4M
YoY Change 26.37% -18.89%
Cost Of Revenue $402.5M $281.5M
YoY Change 30.54% -27.15%
Gross Profit $356.0M $282.9M
YoY Change 21.97% -8.57%
Gross Profit Margin 46.94% 50.13%
Selling, General & Admin $284.7M $247.5M
YoY Change 10.07% -4.68%
% of Gross Profit 79.97% 87.47%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $14.43M $14.41M
YoY Change -14.09% -2.63%
% of Gross Profit 4.05% 5.09%
Operating Expenses $284.7M $247.5M
YoY Change 11.94% -4.68%
Operating Profit $77.04M $39.45M
YoY Change 105.11% -29.99%
Interest Expense $7.381M $7.870M
YoY Change -204.28% -18.39%
% of Operating Profit 9.58% 19.95%
Other Income/Expense, Net -$1.299M -$404.0K
YoY Change -269.36% -256.59%
Pretax Income $70.73M $34.36M
YoY Change 126.34% -27.91%
Income Tax $12.41M $6.725M
% Of Pretax Income 17.55% 19.57%
Net Earnings $58.32M $27.64M
YoY Change 148.79% -23.22%
Net Earnings / Revenue 7.69% 4.9%
Basic Earnings Per Share $1.62 $0.76
Diluted Earnings Per Share $1.62 $0.76
COMMON SHARES
Basic Shares Outstanding 36.13M shares 36.50M shares
Diluted Shares Outstanding 35.30M shares 35.69M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $175.5M $316.6M
YoY Change 0.59% 100.81%
Cash & Equivalents $175.5M $316.6M
Short-Term Investments
Other Short-Term Assets $41.58M $54.09M
YoY Change -26.56% 14.65%
Inventory $607.4M $599.3M
Prepaid Expenses $41.58M $54.09M
Receivables $247.0M $117.7M
Other Receivables $17.27M $14.66M
Total Short-Term Assets $1.072B $1.102B
YoY Change 2.5% 5.72%
LONG-TERM ASSETS
Property, Plant & Equipment $182.3M $181.7M
YoY Change -73.1% 0.71%
Goodwill $209.4M $209.1M
YoY Change -0.54% -0.25%
Intangibles $298.1M $298.1M
YoY Change -0.07% -0.08%
Long-Term Investments $19.00M
YoY Change 21.02%
Other Assets $32.46M $29.74M
YoY Change 174.5% 8.03%
Total Long-Term Assets $1.307B $1.253B
YoY Change 5.13% 1.01%
TOTAL ASSETS
Total Short-Term Assets $1.072B $1.102B
Total Long-Term Assets $1.307B $1.253B
Total Assets $2.378B $2.356B
YoY Change 3.93% 3.16%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $273.9M $313.8M
YoY Change -2.64% 74.16%
Accrued Expenses $181.4M $189.4M
YoY Change -8.1% -1.02%
Deferred Revenue $27.71M $27.03M
YoY Change -1.99% -4.77%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $484.1M $527.6M
YoY Change -6.46% 28.49%
LONG-TERM LIABILITIES
Long-Term Debt $497.9M $497.7M
YoY Change 0.19% -13.71%
Other Long-Term Liabilities $32.50M $32.90M
YoY Change -92.83% -5.7%
Total Long-Term Liabilities $530.4M $530.6M
YoY Change -44.19% -13.25%
TOTAL LIABILITIES
Total Short-Term Liabilities $484.1M $527.6M
Total Long-Term Liabilities $530.4M $530.6M
Total Liabilities $1.549B $1.544B
YoY Change 2.35% 3.93%
SHAREHOLDERS EQUITY
Retained Earnings $861.3M $844.2M
YoY Change 7.72% 1.97%
Common Stock $360.0K $363.0K
YoY Change -3.74% -3.97%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $829.3M $811.8M
YoY Change
Total Liabilities & Shareholders Equity $2.378B $2.356B
YoY Change 3.93% 3.16%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $58.32M $27.64M
YoY Change 148.79% -23.22%
Depreciation, Depletion And Amortization $14.43M $14.41M
YoY Change -14.09% -2.63%
Cash From Operating Activities -$80.37M $117.2M
YoY Change -148.11% 177.84%
INVESTING ACTIVITIES
Capital Expenditures $15.32M $12.30M
YoY Change 22.29% -11.06%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$15.32M -$12.30M
YoY Change 22.29% -11.06%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -45.72M -54.01M
YoY Change -67.01% -34.74%
NET CHANGE
Cash From Operating Activities -80.37M 117.2M
Cash From Investing Activities -15.32M -12.30M
Cash From Financing Activities -45.72M -54.01M
Net Change In Cash -141.4M 50.94M
YoY Change -985.97% -194.21%
FREE CASH FLOW
Cash From Operating Activities -$80.37M $117.2M
Capital Expenditures $15.32M $12.30M
Free Cash Flow -$95.69M $104.9M
YoY Change -161.93% 269.91%

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us-gaap Repayments Of Lines Of Credit
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
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THE COMPANY<div style="margin-bottom:10pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Carter’s, Inc. and its wholly owned subsidiaries (collectively, the “Company”) design, source, and market branded childrenswear under the </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Carter’s, OshKosh B’gosh </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(or “</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">OshKosh</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">”)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">, Skip Hop, Child of Mine, Just One You, Simple Joys, Little Planet, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">and other brands. The Company’s products are sourced through contractual arrangements with manufacturers worldwide for wholesale distribution to leading department stores, national chains, and specialty retailers domestically and internationally and for sale in the Company’s retail stores and eCommerce sites that market its brand name merchandise and other licensed products manufactured by other companies.</span></div><div style="margin-bottom:10pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our trademarks that are referred to in this Quarterly Report on Form 10-Q, including </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Carter’s</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">OshKosh B’gosh</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">OshKosh</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Skip Hop, Child of Mine</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Just One You</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Simple Joys</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Little Planet</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, and other brands, many of which are registered in the United States and in over 100 other countries and territories, are each the property of one or more subsidiaries of Carter’s, Inc.</span></div>
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THE COMPANY<div style="margin-bottom:10pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Carter’s, Inc. and its wholly owned subsidiaries (collectively, the “Company”) design, source, and market branded childrenswear under the </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Carter’s, OshKosh B’gosh </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(or “</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">OshKosh</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">”)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">, Skip Hop, Child of Mine, Just One You, Simple Joys, Little Planet, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">and other brands. The Company’s products are sourced through contractual arrangements with manufacturers worldwide for wholesale distribution to leading department stores, national chains, and specialty retailers domestically and internationally and for sale in the Company’s retail stores and eCommerce sites that market its brand name merchandise and other licensed products manufactured by other companies.</span></div><div style="margin-bottom:10pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our trademarks that are referred to in this Quarterly Report on Form 10-Q, including </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Carter’s</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">OshKosh B’gosh</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">OshKosh</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Skip Hop, Child of Mine</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Just One You</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Simple Joys</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Little Planet</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, and other brands, many of which are registered in the United States and in over 100 other countries and territories, are each the property of one or more subsidiaries of Carter’s, Inc.</span></div>
CY2024Q2 cri Number Of Countries And Territories Registered With Company Trademarks
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100 countryandterritory
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us-gaap Contract With Customer Liability Revenue Recognized
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CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
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false
CY2023Q3 cri Operating Income As A Percentage Of Segment Net Sales
OperatingIncomeAsAPercentageOfSegmentNetSales
0.063
us-gaap Operating Income Loss
OperatingIncomeLoss
94488000 usd
cri Operating Income As A Percentage Of Segment Net Sales
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us-gaap Operating Income Loss
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93915000 usd
cri Operating Income As A Percentage Of Segment Net Sales
OperatingIncomeAsAPercentageOfSegmentNetSales
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CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
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false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

Files In Submission

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