Skechers Usa (SKX) Quarterly Income Statement

Income Statement Summary

Skechers USA (SKX) quarterly income statement covering the six quarters from June 2022 to September 2023, as reported to the SEC.

Skechers USA reported sales of $2.02B in the quarter ended September 30, 2023, up 7.8% from $1.88B a year earlier.
That is 0.62% higher than the June 2023 quarter.
Gross profit was $1.07B, up 21.3% from $883.93M. That is a gross margin of 52.9%.
Earnings from operations were $213.18M, up 64% from $129.97M. Operating margin was 10.5%.
Net earnings were $145.41M, up 69.3% from $85.89M. Net margin was 7.2%.
Diluted earnings per share was $0.93, up 69.1% from $0.55.
Cost of sales took 47.1% of sales and general and administrative 33.6%.

An income statement shows what a company sold and what it cost to run the business, ending with the profit left over.

Figures in USD thousands, except per share data

						Sep'23	Jun'23	Mar'23	Dec'22	Sep'22	Jun'22
Sales
2,024,958	2,012,516	2,001,928	1,878,785	1,878,367	1,867,804	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Sales						2,024,958	2,012,516	2,001,928	1,878,785	1,878,367	1,867,804	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Cost of sales
953,040	951,992	1,023,349	969,105	994,432	970,225	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Cost of sales						953,040	951,992	1,023,349	969,105	994,432	970,225	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Gross profit
1,071,918	1,060,524	978,579	909,680	883,935	897,579	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Gross profit						1,071,918	1,060,524	978,579	909,680	883,935	897,579	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Royalty income
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Royalty income						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Operating income
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Operating income						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Operating expenses
Selling
178,286	187,118	128,560	157,951	150,857	166,609	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Selling						178,286	187,118	128,560	157,951	150,857	166,609	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
General and administrative
680,449	655,673	626,442	665,092	603,107	576,812	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
General and administrative						680,449	655,673	626,442	665,092	603,107	576,812	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Selling, general and administrative
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Selling, general and administrative						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total operating expenses
858,735	842,791	755,002	823,043	753,964	743,421	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total operating expenses						858,735	842,791	755,002	823,043	753,964	743,421	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Earnings from operations
213,183	217,733	223,577	86,637	129,971	154,158	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Earnings from operations						213,183	217,733	223,577	86,637	129,971	154,158	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest income
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest income						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest expense
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest expense						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other income (expense)
-7,055	2,792	9,923	15,731	-15,139	-19,259	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other income (expense)						-7,055	2,792	9,923	15,731	-15,139	-19,259	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total other income (expense)
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total other income (expense)						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Earnings before income taxes
206,128	220,525	233,500	102,368	114,832	134,899	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Earnings before income taxes						206,128	220,525	233,500	102,368	114,832	134,899	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income tax expense
40,202	38,942	43,216	9,866	20,498	28,739	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income tax expense						40,202	38,942	43,216	9,866	20,498	28,739	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net earnings
165,926	181,583	190,284	92,502	94,334	106,160	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net earnings						165,926	181,583	190,284	92,502	94,334	106,160	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Less: Net earnings attributable to noncontrolling interests
20,511	28,824	29,841	16,987	8,448	15,756	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Less: Net earnings attributable to noncontrolling interests						20,511	28,824	29,841	16,987	8,448	15,756	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net earnings attributable to Skechers U.S.A., Inc.
145,415	152,759	160,443	75,515	85,886	90,404	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net earnings attributable to Skechers U.S.A., Inc.						145,415	152,759	160,443	75,515	85,886	90,404	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net earnings per share attributable to Skechers U.S.A., Inc.
Basic
0.94	0.99	1.03	0.49	0.55	0.58	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Basic						0.94	0.99	1.03	0.49	0.55	0.58	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Diluted
0.93	0.98	1.02	0.48	0.55	0.58	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Diluted						0.93	0.98	1.02	0.48	0.55	0.58	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Weighted-average shares used in calculating net earnings per share attributable to Skechers U.S.A., Inc.
Basic
154,525	154,970	155,140	155,151	155,420	155,941	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Basic						154,525	154,970	155,140	155,151	155,420	155,941	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Diluted
156,200	156,571	156,755	156,003	156,233	156,748	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Diluted						156,200	156,571	156,755	156,003	156,233	156,748	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net (loss) earnings
145,415	152,759	160,443	75,515	85,886	90,404	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net (loss) earnings						145,415	152,759	160,443	75,515	85,886	90,404	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Gain (loss) on foreign currency translation adjustment, net of tax
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Gain (loss) on foreign currency translation adjustment, net of tax						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total comprehensive income (loss)
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total comprehensive income (loss)						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx