Levi Strauss reported second quarter results that exceeded Wall Street expectations, driven by higher revenue and earnings, while raising its full-year guidance and increasing its quarterly dividend. Adjusted earnings came in at 28 cents per diluted share, ahead of the 24 cents analysts expected. Revenue rose 8% year over year to $1.56 billion, surpassing the consensus estimate of $1.52 billion. The company now expects full-year reported net revenue growth of 7.0% to 7.5%, up from its prior forecast of 5.5% to 6.5%, and adjusted diluted earnings per share of $1.46 to $1.52, compared with the previous outlook of $1.42 to $1.48. Direct-to-consumer revenue increased 11%, with e-commerce sales up 19%, and the segment represented 51% of total net revenue.
Levi Strauss & Co Class ABeat Q2 estimates, raised full-year guidance and increased dividend.