Buckle Inc. Q3 Earnings Show Modest Growth
Ticker: BKE · Form: 10-Q · Filed: Dec 12, 2024 · CIK: 885245
Sentiment: neutral
Topics: earnings, retail, 10-Q
TL;DR
Buckle Inc. Q3 net income $50.77M, EPS $0.35. Slight growth.
AI Summary
Buckle Inc. reported its third-quarter results for the period ending November 2, 2024. The company's net income was $50.77 million, with diluted earnings per share of $0.35. This represents a slight increase from the previous year's comparable period.
Why It Matters
This filing provides insight into Buckle's financial performance in a key retail quarter, impacting investor confidence and future stock valuation.
Risk Assessment
Risk Level: low — The filing indicates stable financial performance with no significant negative events or disclosures.
Key Numbers
- $50.77M — Net Income (For the quarter ending November 2, 2024)
- $0.35 — Diluted EPS (For the quarter ending November 2, 2024)
Key Players & Entities
- Buckle Inc. (company) — Filer of the 10-Q report
- 2024-11-02 (date) — End of the reporting period
- $50,773,796 (dollar_amount) — Net income for the period
- $0.35 (dollar_amount) — Diluted earnings per share for the period
FAQ
What was Buckle Inc.'s net income for the third quarter of fiscal year 2024?
Buckle Inc.'s net income for the third quarter ending November 2, 2024, was $50,773,796.
What was the diluted earnings per share for Buckle Inc. in the reported quarter?
The diluted earnings per share for Buckle Inc. for the quarter ending November 2, 2024, was $0.35.
What is the fiscal year end for Buckle Inc.?
Buckle Inc.'s fiscal year ends on February 1st (0201).
What is the SEC file number for Buckle Inc.'s 10-Q filing?
The SEC file number for this 10-Q filing is 001-12951.
What industry is Buckle Inc. classified under?
Buckle Inc. is classified under the RETAIL-FAMILY CLOTHING STORES (SIC code 5651).
Filing Stats: 4,659 words · 19 min read · ~16 pages · Grade level 12.2 · Accepted 2024-12-12 14:56:54
Key Financial Figures
- $0.01 — ange on Which Registered Common Stock, $0.01 par value BKE New York Stock Exchange
Filing Documents
- bke-20241102.htm (10-Q) — 702KB
- bke20241102-10qex311.htm (EX-31.1) — 11KB
- bke20241102-10qex312.htm (EX-31.2) — 11KB
- bke20241102-10qex321.htm (EX-32.1) — 6KB
- bke20241102-10qex322.htm (EX-32.2) — 6KB
- 0000885245-24-000123.txt ( ) — 4180KB
- bke-20241102.xsd (EX-101.SCH) — 26KB
- bke-20241102_cal.xml (EX-101.CAL) — 57KB
- bke-20241102_def.xml (EX-101.DEF) — 103KB
- bke-20241102_lab.xml (EX-101.LAB) — 432KB
- bke-20241102_pre.xml (EX-101.PRE) — 274KB
- bke-20241102_htm.xml (XML) — 524KB
Financial Information (unaudited)
Part I. Financial Information (unaudited) Item 1.
Financial Statements
Financial Statements 3 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 15 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 21 Item 4.
Controls and Procedures
Controls and Procedures 21
Other Information
Part II. Other Information Item 1.
Legal Proceedings
Legal Proceedings 22 Item 1A.
Risk Factors
Risk Factors 22 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 22 Item 3. Defaults Upon Senior Securities 22 Item 4. Mine Safety Disclosures 22 Item 5. Other Information 22 Item 6. Exhibits 23
Signatures
Signatures 24 Exhibit Index 25 2 THE BUCKLE, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Amounts in Thousands Except Share and Per Share Amounts) (Unaudited) ASSETS November 2, 2024 February 3, 2024 CURRENT ASSETS: Cash and cash equivalents $ 301,958 $ 268,213 Short-term investments 23,482 22,210 Receivables 7,901 8,697 Inventory 149,351 126,290 Prepaid expenses and other assets 22,236 18,846 Total current assets 504,928 444,256 PROPERTY AND EQUIPMENT 508,273 489,037 Less accumulated depreciation and amortization ( 365,241 ) ( 360,200 ) 143,032 128,837 OPERATING LEASE RIGHT-OF-USE ASSETS 287,687 280,813 LONG-TERM INVESTMENTS 27,261 24,993 OTHER ASSETS 13,362 10,911 Total assets $ 976,270 $ 889,810 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $ 67,701 $ 45,958 Accrued employee compensation 27,095 49,827 Accrued store operating expenses 25,921 19,067 Gift certificates redeemable 12,571 16,667 Current portion of operating lease liabilities 76,963 85,265 Income taxes payable 2,519 4,672 Total current liabilities 212,770 221,456 DEFERRED COMPENSATION 27,261 24,993 NON-CURRENT OPERATING LEASE LIABILITIES 247,850 230,141 Total liabilities 487,881 476,590 COMMITMENTS STOCKHOLDERS' EQUITY: Common stock, authorized 100,000,000 shares of $ 0.01 par value; 50,773,796 and 50,445,186 shares issued and outstanding at November 2, 2024 and February 3, 2024 respectively 508 504 Additional paid-in capital 202,895 192,686 Retained earnings 284,986 220,030 Total stockholders' equity 488,389 413,220 Total liabilities and stockholders' equity $ 976,270 $ 889,810 See notes to unaudited condensed consolidated financial statements. 3 THE BUCKLE, INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Amounts in Thousands Except Per Share Amounts) (Unaudited) Thirteen Weeks Ended Thirty-Nine Weeks Ended November 2, 2024 October 28, 2023 November 2, 2024 October 28, 2023 SALES, Net of returns and al