05:15 PM EDT, 07/25/2024 (MT Newswires) -- Skechers U.S.A. (SKX) late Thursday reported Q2 non-GAAP net income of $0.97 per diluted share, down from $0.98 a year earlier.

Analysts polled by Capital IQ expected $0.94.

Sales for the quarter ended June 30 was $2.16 billion, compared with $2.01 billion a year earlier.

Analysts expected $2.24 billion.

For Q3, the company is projecting EPS of 1.10 to 1.15 on $2.3 billion to $2.35 billion in sales. Analysts are expecting $1.10 and $2.22 billion, respectively.

It also sees 2024 EPS of $4.08 to $4.18 on sales of $8.88 billion to $8.98 billion. Wall Street is looking for $4.10 and $8.89 billion.

The footwear company also authorized a new $1 billion stock buyback program running through July 2027.

Skechers shares were almost 2% higher in after-hours session.

Price: 64.74, Change: +1.03, Percent Change: +1.62