LEVI FY 2023 Earnings Report — Levi Strauss & Co. Revenue & Financial Results | Market Cap Arena

Levi Strauss & Co.LEVI

FY 2023 Earnings

Reported January 25, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$6.2B	—	$6.2B	—	0.2%
Op. Income	$353M	—	$647M	—	-45.4%
Gross Margin	56.9%	—	57.5%	—	-0.6pp
Net Margin	4.0%	—	9.2%	—	-5.2pp
EPS (Diluted)	$0.62	—	$1.41	—	-56.0%
Free Cash Flow	$122M	—	-$39M	—	412.6%

Revenue Flow

Item	Amount
REVENUE	$6.2B
Cost of Revenue	$2.7B
GROSS PROFIT	$3.5B
R&D Expenses	$0
Selling & Marketing	$2.1B
General & Administrative	$918M
SG&A Expenses	$3.1B
Other Expenses	$111M
Operating Expenses	$3.2B
Cost & Expenses	$5.8B
OPERATING INCOME	$353M
Interest Income	$0
Interest Expense	$46M
Other Income/Expenses	-$88M
INCOME BEFORE TAX	$265M
Income Tax Expense	$16M
Net Income from Continuing Ops	$250M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$250M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$250M
D&A	$165M
EBIT	$311M
EBITDA	$476M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$6.2B
Cost of Revenue	$2.7B
GROSS PROFIT	$3.5B
R&D Expenses	$0
Selling & Marketing	$2.1B
General & Administrative	$918M
SG&A Expenses	$3.1B
Other Expenses	$111M
Operating Expenses	$3.2B
Cost & Expenses	$5.8B
OPERATING INCOME	$353M
Interest Income	$0
Interest Expense	$46M
Other Income/Expenses	-$88M
INCOME BEFORE TAX	$265M
Income Tax Expense	$16M
Net Income from Continuing Ops	$250M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$250M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$250M
D&A	$165M
EBIT	$311M
EBITDA	$476M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$250M
Depreciation & Amortization	$165M
Stock-Based Compensation	$74M
Deferred Income Tax	-$104M
Other Non-Cash Items	$159M
Change in Working Capital	-$109M
OPERATING CASH FLOW	$436M
Capital Expenditure	-$314M
Acquisitions (Net)	-$12M
Purchases of Investments	$0
Sales/Maturities of Investments	$87M
Other Investing Activities	-$2M
NET CASH FROM INVESTING	-$241M
Net Debt Issuance	$0
Common Stock Repurchased	-$8M
Common Dividends Paid	-$191M
Other Financing Activities	-$16M
NET CASH FROM FINANCING	-$214M
FREE CASH FLOW	$122M
Net Change in Cash	-$31M

Balance Sheet

Item	Amount
Cash & Equivalents	$399M
Short-Term Investments	$0
Net Receivables	$753M
Inventory	$1.3B
Other Current Assets	$196M
TOTAL CURRENT ASSETS	$2.6B
PP&E (Net)	$1.7B
Goodwill	$304M
Intangible Assets	$268M
Long-Term Investments	$0
Tax Assets	$730M
Other Non-Current Assets	$401M
TOTAL NON-CURRENT ASSETS	$3.4B
TOTAL ASSETS	$6.1B
Account Payables	$568M
Short-Term Debt	$13M
Deferred Revenue	$0
Other Current Liabilities	$705M
TOTAL CURRENT LIABILITIES	$1.8B
Long-Term Debt	$1.0B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$297M
TOTAL NON-CURRENT LIABILITIES	$2.2B
TOTAL LIABILITIES	$4.0B
Common Stock	$400.0K
Additional Paid-In Capital	$687M
Retained Earnings	$1.8B
Treasury Stock	$0
Accum. Other Comp. Income	-$391M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.0B
Minority Interest	$0
TOTAL EQUITY	$2.0B
TOTAL LIABILITIES & EQUITY	$6.1B
Total Debt	$2.2B
Net Debt	$1.8B