Deckers Outdoor (DECK) Stock Jumps After Record Sales and Earnings Beat

TLDR

• Deckers posted record fiscal Q4 sales of $1.12 billion, up 10%, beating the Wall Street estimate of $1.09 billion.
• Full-year fiscal 2026 revenue hit $5.47 billion, up 10%, with adjusted EPS of $7.02, up 11% — both above analyst forecasts.
• Hoka had its biggest quarter ever at $671 million in revenue, up 15% year over year.
• UGG revenue rose 9% in Q4 to $409 million, driven by diversified products including sneakers, sandals, and men’s styles.
• Deckers guided fiscal 2027 revenue of $5.86–$5.91 billion and EPS of $7.30–$7.45, with high single-digit annual growth targeted through 2030.

Deckers Outdoor reported record revenue and earnings for its fiscal fourth quarter and full year, with both Hoka and UGG delivering strong growth that topped Wall Street expectations.

The stock initially rose 4.3% in after-hours trading on Wednesday before pulling back. It was trading down about 1% in premarket Friday, just above $101, after closing up 4.5% in regular Thursday trading. The stock is down roughly 1% year to date and off 18.6% over the past 12 months.

Deckers Outdoor Corporation, DECK

For the fiscal fourth quarter ended March 31, Deckers reported revenue of $1.12 billion, up 10%, and adjusted EPS of $0.96. Analysts had expected $1.09 billion in sales and $0.83 EPS.

For the full fiscal 2026 year, revenue came in at $5.47 billion, up 10%, with diluted EPS of $7.02, up 11% from $6.33 the prior year. Estimates had been $5.44 billion in revenue and $6.89 EPS.

Hoka Posts Its Biggest Quarter Ever

Hoka had a standout quarter. Revenue reached $671 million, up 15% year over year and the brand’s largest quarter in its history. For the full year, Hoka revenue rose 16% to nearly $2.6 billion.

Direct-to-consumer Hoka sales rose 18% in Q4, while wholesale grew 13%. CEO Stefano Caroti said six Hoka franchise families now generate over $100 million in annual revenue, with three more approaching that threshold. U.S. brand awareness reached roughly 60%, up from 50% a year ago.

Caroti pointed to franchises including Bondi, Clifton, and Mach as key contributors. He said the company plans to open 20 to 25 Hoka stores per year, focused on major cities and international markets.

UGG revenue grew 9% in Q4 to $409 million, ahead of the $376 million Wall Street expected. For the full year, UGG revenue rose 8% to $2.7 billion.

The brand’s growth came from a broader product range. Caroti said sneakers and sandals — including the Lowmel franchise and Golden Collection — accounted for more than half of UGG’s annual growth. Men’s styles made up more than 20% of UGG’s global growth during the year.

Margins and Cash Flow

Full-year operating margin was 23.1%. Gross margin came in at 57.7%, down 20 basis points, with tariff headwinds accounting for roughly 80 basis points of pressure, partly offset by lower freight costs.

Deckers generated over $1 billion in free cash flow and repurchased $1.075 billion in stock during fiscal 2026 at an average price of $102.43 per share. The company ended the year with $1.9 billion in cash and no outstanding debt.

For fiscal 2027, Deckers expects revenue of $5.86–$5.91 billion and EPS of $7.30–$7.45. Gross margin is projected at approximately 56.5%, with higher freight costs and material costs weighing on the result.

The company’s first-quarter guidance calls for revenue growth of approximately 5%, what CFO Steve Fasching called the company’s first-ever billion-dollar June quarter. Q1 EPS is projected between $0.82 and $0.87.

Deckers has beaten revenue and earnings estimates in 19 of the past 20 quarters.

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