Deckers Brands (DECK) Q2 FY2027 earnings

Reported results

• Net sales increased 3.5% to $1.481 billion; on a constant currency basis, net sales increased 2.8%
• Gross margin was 60.5% compared to 56.2% in the prior year period
• Operating income was $389.5 million compared to $326.5 million
• Diluted earnings per share was $2.31 compared to $1.82, including a $0.28 benefit related to IEEPA tariff net refunds received
• HOKA brand net sales increased 6.8% to $677.2 million; UGG brand net sales increased 3.5% to $786.4 million
• Company repurchased $299.3 million of shares in Q2 FY 2027; fiscal year-to-date repurchases totaled $637.5 million

Guidance

• Full year FY 2027 net consolidated sales expected in the range of $5.700 billion to $5.725 billion
• Full year FY 2027 gross margin expected to be approximately 58.5%
• Full year FY 2027 SG&A expenses as a percentage of net sales expected to be approximately 35.5%
• Full year FY 2027 operating margin expected to be approximately 23%
• Full year FY 2027 effective tax rate still expected to be approximately 23%
• Full year FY 2027 diluted earnings per share expected in the range of $7.80 to $7.95, including an approximate $0.52 benefit related to IEEPA tariff net refunds

Notes

Q2 FY 2027 results included $46.0 million in IEEPA tariff net refunds plus $3.0 million in associated interest, providing approximately 310 basis points benefit to both gross margin and operating margin. Full year FY 2027 guidance includes $87.9 million in IEEPA tariff net refunds plus $4.7 million in associated interest received through October 8, 2026, providing approximately 150 basis points benefit to gross margin and operating margin. EPS guidance assumes repurchase of shares with a value equal to $1.0 billion. Net sales in prior year comparisons include declines related to the phase-out of Koolaburra brand standalone operations.

Price and volatility reaction

The stock moved -4.9% on the print. No front-expiry chain was on file, so there is no straddle expected move. 30-day ATM implied volatility moved -15.9 vol points across the event (constant-maturity series — not the front-week crush).

Source

The figures above come from the earnings release the company filed with the SEC on 2026-10-22 (8-K, Item 2.02). Read the original filing on sec.gov.