Levi's up after-hours following EPS, net revenue beat

Levi’s reported earnings that topped estimates, posting $1.31B in net revenue and an adjusted EPS of 34 cents, beating Street estimates of an EPS of 24 cents and an estimated net revenue of $1.25B. Yahoo Finance’s Jared Blikre breaks down the key metrics.

Video transcript

SEANA SMITH: We need to get to some breaking news. Levi's is out with its earnings report. Jared has those numbers for us. Jared.

JARED BLIKRE: That's right, Seana. We are looking at beats across all the key metrics here, handily beating on both the top and bottom lines. Let's get straight to the numbers. First quarter adjusted EPS came in at $0.34, which beat the street estimate by a dime. Net revenue, $1.31 billion. That's down 13% year over year, but beating the estimate of $1.25 billion. Now we can break the break the revenue down by region. In the Americas, it's $641 million. That's a solid drop of about 16% year over year. Europe revenue, $429 million. That was up 6 and 1/2%. And Asia revenue, that's $235 million, up 9%.

So, cash and cash equivalents closed the quarter at $1.97 billion. Adjusted EBIT was $174 million. And that is up 50%-- 54% quarter over quarter. A couple of their notes here, they raised their second quarter dividend to $0.06 per share. And they also raised their first half outlook. They're now seeing net revenue of 24% to 25% growth. So, again, just recapping, the stock is up about 5% right now. It's been up as much as 8% or 9%. But that is good enough for a record high. So, beats across the line for Levi's. Guys.