LULU FY 2023 Earnings Report — Lululemon Athletica Inc. Revenue & Financial Results | Market Cap Arena

Lululemon Athletica Inc.LULU

FY 2023 Earnings

Reported March 21, 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	$9.6B	—	$8.1B	—	18.6%
Op. Income	$2.1B	—	$1.3B	—	60.5%
Gross Margin	58.3%	—	55.4%	—	2.9pp
Net Margin	16.1%	—	10.5%	—	5.6pp
EPS (Diluted)	$12.20	—	$6.68	—	82.6%
Free Cash Flow	$1.6B	—	$328M	—	401.6%

Revenue Flow

Item	Amount
REVENUE	$9.6B
Cost of Revenue	$4.0B
GROSS PROFIT	$5.6B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$3.4B
Other Expenses	$80M
Operating Expenses	$3.5B
Cost & Expenses	$7.5B
OPERATING INCOME	$2.1B
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$43M
INCOME BEFORE TAX	$2.2B
Income Tax Expense	$626M
Net Income from Continuing Ops	$1.6B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.6B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.6B
D&A	$379M
EBIT	$2.2B
EBITDA	$2.6B
EPS	$12
EPS Diluted	$12

Income Statement

Item	Amount
REVENUE	$9.6B
Cost of Revenue	$4.0B
GROSS PROFIT	$5.6B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$3.4B
Other Expenses	$80M
Operating Expenses	$3.5B
Cost & Expenses	$7.5B
OPERATING INCOME	$2.1B
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$43M
INCOME BEFORE TAX	$2.2B
Income Tax Expense	$626M
Net Income from Continuing Ops	$1.6B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.6B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.6B
D&A	$379M
EBIT	$2.2B
EBITDA	$2.6B
EPS	$12
EPS Diluted	$12

Cash Flow Statement

Item	Amount
Net Income	$1.6B
Depreciation & Amortization	$379M
Stock-Based Compensation	$94M
Deferred Income Tax	-$28M
Other Non-Cash Items	$102M
Change in Working Capital	$199M
OPERATING CASH FLOW	$2.3B
Capital Expenditure	-$652M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$2M
NET CASH FROM INVESTING	-$654M
Net Debt Issuance	$0
Common Stock Repurchased	-$559M
Common Dividends Paid	$0
Other Financing Activities	$10M
NET CASH FROM FINANCING	-$549M
FREE CASH FLOW	$1.6B
Net Change in Cash	$1.1B

Balance Sheet

Item	Amount
Cash & Equivalents	$2.2B
Short-Term Investments	$0
Net Receivables	$309M
Inventory	$1.3B
Other Current Assets	$47M
TOTAL CURRENT ASSETS	$4.1B
PP&E (Net)	$2.8B
Goodwill	$24M
Intangible Assets	$0
Long-Term Investments	$0
Tax Assets	$9M
Other Non-Current Assets	$187M
TOTAL NON-CURRENT ASSETS	$3.0B
TOTAL ASSETS	$7.1B
Account Payables	$348M
Short-Term Debt	$0
Deferred Revenue	$306M
Other Current Liabilities	$453M
TOTAL CURRENT LIABILITIES	$1.6B
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$30M
Other Non-Current Liabilities	$45M
TOTAL NON-CURRENT LIABILITIES	$1.2B
TOTAL LIABILITIES	$2.9B
Common Stock	$606.0K
Additional Paid-In Capital	$575M
Retained Earnings	$3.9B
Treasury Stock	$0
Accum. Other Comp. Income	-$264M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$4.2B
Minority Interest	$0
TOTAL EQUITY	$4.2B
TOTAL LIABILITIES & EQUITY	$7.1B
Total Debt	$1.4B
Net Debt	-$841M