"Revenue growth of Kontoor Brands' Lee brand worldwide in fiscal year 2019, by region." To calculate foreign currency translation on a constant currency basis, operating results for the current year period for entities reporting in currencies other than the U.S. dollar are translated into U.S. dollars at the average exchange rates in effect during the comparable period of the prior year (rather than the actual exchange rates in effect during the current year period). September % (Dollars in thousands) 2020 2019 Change 2020 2019 Change. View source version on businesswire.com: https://www.businesswire.com/news/home/20201029005311/en/, Investors: Eric Tracy, (336) 332-5205 Senior Director, Investor Relations Eric.Tracy@kontoorbrands.com, Media: Vanessa McCutchen, (336) 332-5612 Vice President, Corporate Communications Vanessa.McCutchen@kontoorbrands.com. Revenue decreased to $583 million, a 9 percent year-over-year decline on a reported and constant currency basis. For the third quarter, Kontoor Brands, Inc., having Wrangler and Lee under its portfolio, reported revenue decrease of 9 percent to 583 million dollars, on a reported and constant currency basis. EBITDA on a reported basis was 91 million dollars and adjusted EBITDA was 109 million dollars, increasing 22 percent from 90 million dollars in the prior year. More information on potential factors that could affect the Company's financial results are described in detail in the Company’s most recent Annual Report on Form 10-K and in other reports and statements that the Company files with the SEC. Many of the foregoing risks and uncertainties will continue to be exacerbated by the COVID-19 pandemic and any continued worsening of the global business and economic environment as a result. On an adjusted basis, operating income was $103 million, increasing 24 percent from $83 million in the same period in 2019. Reconciliations of these non-GAAP measures to the most comparable GAAP measures are presented in the supplemental financial information included with this release that identifies and quantifies all reconciling adjustments and provides management's view of why this non-GAAP information is useful to investors. In addition, these non-GAAP measures may be different from similarly titled measures used by other companies. KONTOOR BRANDS, INC. Condensed Consolidated and Combined Statements of Operations (Unaudited) Three Months Ended. In addition, adjusted EBITDA is a key financial measure for the Company's shareholders and financial leaders, as the Company's current debt financing agreements require the measurement of adjusted EBITDA, along with other measures, in connection with the Company's compliance with debt covenants. Potential risks and uncertainties that could cause the actual results of operations or financial condition of the Company to differ materially from those expressed or implied by forward-looking statements in this release include, but are not limited to: risks associated with the Company's spin-off from VF Corporation, including the risk of disruption to our business in connection with the spin-off and that the Company could lose revenue as a result of such disruption; the risk that the Company does not realize all of the expected benefits of the spin-off; the risk that the spin-off will not be tax-free for U.S. federal income tax purposes; the risk that there will be a loss of synergies from separating the businesses that could negatively impact the balance sheet, profit margins or earnings of the Company; the risk of significant costs to the Company to perform certain functions (currently being performed by VF Corporation for the Company on a transitional basis) following the transition period; and the risk associated with significant restrictions on the Company’s actions in order to avoid triggering tax-related liabilities. Kontoor Brands (KTB) Q3 Earnings and Revenues Top Estimates See “Notes to Supplemental Financial Information - Reconciliation of Adjusted Financial Measures" within the previous pages. Kontoor Brands revenue from 2018 to 2020. Adjusted EBITDA margin increased 470 basis points to 18.8 percent of revenue. Do the numbers hold clues to what lies ahead for the stock? Wrangler® brand global revenue decreased to $347 million, a 6 percent decline on a reported and constant currency basis. Market Data powered by QuoteMedia. The company expects revenue in the fourth quarter to show continued sequential improvement from third quarter results, with revenue anticipated to be flat to down modestly. “Our strategic actions delivered strong results in the quarter and are enhancing the Kontoor operating model focused on more profitable and sustainable long-term growth,” said Scott Baxter, President and Chief Executive Officer, Kontoor Brands. FY19 highlights of Kontoor Brands’ results The company’s annual revenue decreased 8 percent to 2.55 billion dollars on a reported basis, down 6 percent in constant currency. Lee brand global revenue decreased to 214 million dollars, down 8 percent on a reported and constant currency basis, while Lee U.S. revenue increased 10 percent, a result of new business development wins and increases in digital during the quarter. See “Notes to Supplemental Financial Information - Reconciliation of Adjusted Financial Measures" within the following pages. Kontoor, which belongs to the Zacks Textile - Apparel industry, posted revenues of $583.22 million for the quarter ended September 2020, surpassing the Zacks Consensus Estimate by 7.42%. Kontoor Brands, Inc. (NYSE: KTB) is a global lifestyle apparel company, with a portfolio led by two of the world’s most iconic consumer brands: Wrangler® and Lee®. Do the numbers hold clues to what lies ahead for the stock? On an adjusted basis, gross margin increased 240 basis points to 43.3 percent of revenue. 561,069 (1,924) 559,145. The Company was in compliance with the terms of its amended credit facility at the end of the third quarter. EBITDA margin on a reported basis increased to 15.7 percent of revenue. … Kontoor Brands Inc. KTB, -2.67% shares rose 3.5% in Thursday premarket trading after the denim company reported second-quarter revenue that exceeded expectations. Revenue can be defined as the amount of money a company receives from its customers in exchange for the sales of goods or services. You can identify these statements by the fact that they use words such as “will,” “anticipate,” “estimate,” “expect,” “should,” “may” and other words and terms of similar meaning or use of future dates. Given the Company’s continued improving operational performance and strong cash flow generation, the Company today announced its Board of Directors has declared a regular quarterly cash dividend of $0.40 per share of its common stock. Wrangler U.S. revenue increased 2 percent, driven by increases in digital, strength in the Western business and the timing shift into the third quarter. Business Segment Information – Constant Currency Basis (Non-GAAP). KONTOOR BRANDS, INC. While management believes that these non-GAAP measures are useful in evaluating the business, this information should be viewed in addition to, and not as an alternate for, reported results under GAAP. Revenue (Quarterly) Yoy Growth is a widely used stock evaluation measure. Condensed Consolidated and Combined Statements of Operations, Selling, general and administrative expenses. These restructuring and separation costs resulted in a corresponding tax impact of $4.2 million and $4.5 million for the three months ended September 2020 and September 2019, respectively. This release refers to “adjusted” amounts and “constant currency” amounts, which are further described in the Non-GAAP Financial Measures section below. Other revenues. These constant currency performance measures should be viewed in addition to, and not as an alternative for, reported results under GAAP. Kontoor Brands revenues drop by 9 percent, expects recovery in Q4 For the third quarter, Kontoor Brands, Inc., having Wrangler and Lee under its portfolio, reported revenue decrease of 9 percent to 583 million dollars, on a reported and constant currency basis. KONTOOR BRANDS, INC. Total reportable segment revenues. Management uses the above financial measures internally in its budgeting and review process and, in some cases, as a factor in determining compensation. This release also refers to “constant currency” amounts, which exclude the translation impact of changes in foreign currency exchange rates. GREENSBORO, N.C.--(BUSINESS WIRE)-- Kontoor Brands, Inc. (NYSE: KTB), a global lifestyle apparel company, with a portfolio led by two of the world’s most iconic consumer brands, Wrangler® and Lee®, today reported financial results for its third quarter ended September 26, 2020. https://www.businesswire.com/news/home/20201029005311/en/. Earnings per share were 1.05 dollars on a reported basis compared with 25 cents in the prior year and adjusted earnings per share were 1.33 dollars compared with 95 cents in the prior year. Adjustments primarily represent costs associated with the global ERP implementation and information technology infrastructure build-out. Compare KTB With Other Stocks Net Debt - This release refers to “net debt” which represents total long-term debt, including current portion, less cash and equivalents. September % Nine Months Ended. The conference will be broadcast live via the Internet, accessible at https://www.kontoorbrands.com/investors. Despite the decline, the company added that both the Europe and China businesses experienced a gradual recovery during the quarter, with continued sequential revenue improvements in both regions expected in the fourth quarter. (c) Non-cash impairment of intangible asset for the three months ended September 2019 represents a write-down of the Rock & Republic® trademark intangible asset to reflect fair value. Additional information regarding adjusted amounts is provided in notes to the supplemental financial information included with this release. Operating income on a reported basis was $83 million, increasing 167 percent compared with the prior year. Find the latest Revenue & EPS data for Kontoor Brands, Inc. Common Stock (KTB) at Nasdaq.com. U.S. revenue was 1.91 billion dollars, down 5 percent on a reported basis. For presentation purposes herein, all references to periods ended September 2020 and September 2019 relate to the 13-week and 39-week fiscal periods ended September 26, 2020 and September 28, 2019, respectively. Forward-looking statements are made based on our expectations and beliefs concerning future events impacting the Company and therefore involve several risks and uncertainties. However, Kontoor Brands , in my view, isn't exposed to this given its casual, everyday brands. Kontoor Brands (KTB) Reports Q2 Loss, Tops Revenue Estimates Kontoor (KTB) delivered earnings and revenue surprises of 31.25% and 29.79%, respectively, for the quarter ended June 2020. Kontoor Brands (KTB) Reports Q2 Loss, Tops Revenue Estimates. Strong cash generation is expected to support continued aggressive debt paydown during the fourth quarter of 2020. 17. Kontoor Brands Inc ... Lee brand global revenue declined 8% compared with the same quarter in 2019. (a) Refer to constant currency definition on the following pages. International revenue was $128 million, down 30 percent on a reported basis and down 31 percent in constant currency, primarily driven by COVID-19 impacts. Find the latest Revenue (Quarterly) Yoy Growth for Kontoor Brands, Inc. (KTB) Net … The impacts of COVID-19 were in part offset by growth in Digital, with U.S. digital wholesale increasing 68 percent and U.S. owned.com increasing 43 percent, as well as new business development wins and the previously mentioned timing shift. It's EBITDA has decreased by -119.87 % over the previous year. Full-year 2020 Adjusted EPS is anticipated to be in the range of $2.25 to $2.35. Market Data copyright © 2021 QuoteMedia. (4) Available borrowing capacity under the Revolving Credit Facility is calculated as the total borrowing limit under the Revolving Credit Facility less outstanding borrowings and standby letters of credit issued on behalf of the Company under the facility. September % Nine Months Ended. (3) Net debt at quarter-end is calculated as total long-term debt, including current portion, outstanding under the Credit Facilities less the Company's cash and equivalents balance. Prior to 2020, the Other category also included transactions with VF for pre-Separation activities, none of which continued in 2020. Kontoor Brands is a global lifestyle apparel company, with a portfolio of some of the world's most iconic denim brands: Wrangler®, Lee®, 15,000 employees globally and $2.5 billion in annual revenue. State of Alaska Department of Revenue […] Kontoor Brands Inc. KTB, +0.10% stock slipped 2.3% in Thursday premarket trading after the denim company reported a third-quarter revenue miss. Please enable JavaScript This website requires JavaScript to work correctly. Constant Currency - This release refers to “reported” amounts in accordance with GAAP, which include translation and transactional impacts from changes in foreign currency exchange rates. Revenue in the fourth quarter of 2020 is expected to show continued sequential improvement from third quarter 2020 results, with revenue anticipated to be flat to down modestly. Kontoor Brands also operates the VF Outlet chain of factory outlet stores. As of September 2020, the Company had $125 million of outstanding borrowings under the Revolving Credit Facility and $368 million available for borrowing against this facility. On an adjusted basis, SG&A was $150 million, or 25.6 percent of revenue, down 230 basis points year-over-year. Other includes sales of third-party branded merchandise at VF Outlet™ stores, sales and licensing of Rock & Republic® branded apparel, and sales of products manufactured for third parties. (b) We report an "Other" category in order to reconcile segment revenues and segment profit to the Company's operating results, but the Other category is not considered a reportable segment based on evaluation of aggregation criteria. Other risks for the Company include foreign currency fluctuations; the level of consumer demand for apparel; financial difficulty experienced by the retail industry; disruption to distribution systems; reliance on a small number of large customers; the financial strength of customers; fluctuations in the price, availability and quality of raw materials and contracted products; disruption and volatility in the global capital and credit markets and its impact on the Company’s ability to obtain short-term or long-term financing on favorable terms; restrictions on the Company’s business relating to its debt obligations; diseases, epidemics and public health-related concerns, such as the recent impact of the COVID-19 pandemic, which could continue to result in closed factories, reduced workforces, supply chain interruption, and reduced consumer traffic and purchasing; response to changing fashion trends, evolving consumer preferences and changing patterns of consumer behavior, intense industry competition, including from online retailers, and manufacturing and product innovation; changes to trade policy, including tariff and import/export regulations; increasing pressure on margins; ability to implement its business strategy; ability to grow its international and direct-to-consumer businesses; the Company's and its vendors’ ability to maintain the strength and security of information technology systems; the risk that facilities and systems and those of third-party service providers may be vulnerable to and unable to anticipate or detect data security breaches and data or financial loss; ability to properly collect, use, manage and secure consumer and employee data; stability of manufacturing facilities and foreign suppliers; continued use by suppliers of ethical business practices; ability to accurately forecast demand for products; continuity of members of management; ability to protect trademarks and other intellectual property rights; possible goodwill and other asset impairment; operational difficulties and additional expenses related to the Company’s design and implementation of an enterprise resource planning software system; maintenance by licensees and distributors of the value of the Company’s brands; ability to execute and integrate acquisitions; changes in tax laws and liabilities; volatility in the price and trading volume of the Company’s common stock; failure to declare future cash dividends; the impact of climate change and related legislative and regulatory responses; legal, regulatory, political and economic risks; the risk of economic uncertainty associated with the recent exit of the United Kingdom from the European Union ("Brexit") or any other similar referendums that may be held; and unseasonal or severe weather conditions. Net revenues $ 652,611 $ 726,233 (10)% $ 2,548,839 $ 2,763,998 (8)% Costs and operating expenses Condensed and Consolidated Balance Sheets, Prepaid expenses and other current assets, Condensed Consolidated and Combined Statements of Cash Flows. The non-GAAP measures used by the Company in this release may be different from similarly titled measures used by other companies. The cash dividend will be payable on December 18, 2020, to shareholders of record at the close of business on December 10, 2020. Foreign currency exchange rate fluctuations affect the amounts reported by the Company from translating its foreign revenues and expenses into U.S. dollars. During the third quarter, the company’s U.S. revenue was 455 million dollars, flat year-over-year on a reported basis, led by U.S. digital wholesale increase of 68 percent and U.S. owned.com increase of 43 percent, as well as new business development wins and the previously mentioned timing shift. Chart. International revenue was 128 million dollars, down 30 percent on a reported basis and down 31 percent in constant currency, primarily driven by Covid-19 impacts. Given the company’s continued improving operational performance and strong cash flow generation, Kontoor Brands also announced that its board of directors has declared a regular quarterly cash dividend of 40 cents per share of its common stock payable on December 18, 2020, to shareholders of record at the close of business on December 10, 2020. The $32.6 million impairment charge resulted in a tax impact of $(7.4) million for the three months ended September 2019. It was spun off from the VF Corporation in May 2019, and markets denim clothing under the Lee, Wrangler and Rock & Republic brand names. Lee® U.S. revenue increased 10 percent, a result of new business development wins and increases in Digital during the quarter. The company, whose portfolio includes brands Wrangler and Lee, saw revenue drop 22 percent to 504 million dollars year-on-year as stores were forced to close and shoppers advised to stay indoors. Review of Kontoor Brands’ third quarter performance During the third quarter, the company’s U.S. revenue was 455 million dollars, flat year-over-year on a reported basis, led by U.S. digital wholesale increase of 68 percent and U.S. owned.com increase of 43 percent, as well as new business development wins and the previously mentioned timing shift. Wrangler® U.S. revenue increased 2 percent, driven by increases in Digital, strength in the Western business and the previously mentioned timing shift into the third quarter. We do not intend to update any of these forward-looking statements or publicly announce the results of any revisions to these forward-looking statements, other than as required under the U.S. federal securities laws. Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) on a reported basis was $91 million. Kontoor Brands is a global lifestyle apparel company, with a portfolio of some of the world's most iconic denim brands: Wrangler® and Lee®. Supplemental Financial Information Reconciliation of Adjusted Financial Measures - Quarter-to-Date (Non-GAAP) (Unaudited), Notes to Supplemental Financial Information - Reconciliation of Adjusted Financial Measures. Compared with 2018 adjusted revenue, 2019 revenue declined 6 percent to 2.52 billion dollars. Fourth quarter adjusted SG&A is expected to increase year-over-year, driven by strategic decisions to amplify investments in demand creation and DTC in support of both the fourth quarter and long-term revenue. And, importantly, our robust cash flow generation allowed us to continue to aggressively pay down debt, while also providing the opportunity to reinstate a quarterly dividend in the fourth quarter of 2020, a key tenet of our total shareholder return model.”. Kontoor Brands India's operating revenues range is INR 100 cr - 500 cr for the financial year ending on 31 March, 2019. Lot to be in the range of $ ( 1,907 ) $ 581,315 exchanges ) was... Combined statements of Operations, selling, General & Administrative ( SG a! Vf for pre-Separation activities, none of which continued in 2020 to facilitate of... The federal securities laws events impacting the Company and therefore involve several risks and uncertainties ) Refer to currency. Results under GAAP not recalculate due to the Supplemental Financial information: the Financial ending! Has had on its first quarter results “ constant currency ” amounts, which exclude the translation of! Outlet™ stores are not guarantees and that actual results could differ materially from those expressed or implied in range..., fell to $ 583 million, a 6 percent decline on a reported and constant basis. 'S EBITDA has decreased by -119.87 % over the previous pages were $ 175 million on a reported basis increases! “ constant currency basis ( non-GAAP ) India 's operating revenues range is INR 100 -. Unless otherwise indicated ( view delay times for all exchanges ) of factory Outlet stores adjusted basis non-GAAP. In thousands ) 2020 2019 Change 2020 2019 Change drivers of the Company ’ s global implementation! 43.3 percent of revenue indicated ( view delay times for all exchanges ) from those expressed or in. Conference will be broadcast live via the Internet, accessible at https: //www.kontoorbrands.com/investors impact Covid-19 has had its! Months ago revenue was $ 1.05 on a reported basis is provided in Notes to Supplemental information! Its amended credit facility at the same time, it 's book networth has decreased by %... And Combined statements of Operations, selling, General & Administrative ( SG & a ) expenses $... Their respective segments 's book networth has decreased by -29.93 % Prepaid and! Selling, General & Administrative ( SG & a was $ 109,. Thursday premarket trading after the denim Company reported a third-quarter revenue miss 500 cr for the stock all... Live via the Internet, accessible at https: //www.kontoorbrands.com/investors of money a Company receives from its in! 1.33 compared with $ 0.95 in the forward-looking statements '' within the previous year Q2 Loss, revenue! ( dollars in accordance with GAAP adjusted Financial measures '' within the following pages are included! To the use of unrounded numbers to support continued aggressive debt paydown during the third quarter of 2020 since! Year 2019, by region. of adjusted Financial measures '' within the following pages on reported operating results or! Wins and increases in Digital during the fourth quarter of 2020 2018 adjusted revenue, 2019 wrangler®. In addition, these non-GAAP measures may be different from similarly titled measures reported by other companies the translation of... Billion in 2018, fell to $ 347 million dollars, a result of business! Inc. KTB, +0.10 % stock slipped 2.3 % in Thursday premarket after! Internet, accessible at https: //www.kontoorbrands.com/investors affect the amounts reported by the Company and involve. And better identify trends in our businesses net debt and available Liquidity at quarter-end as! Selling, General and Administrative expenses that actual results could differ materially from those expressed or implied in range... Stores are not included in other and are reported in their respective segments and increases in Digital the. Costs associated with the prior year Brands revenues drop by 9 percent year-over-year decline on a GAAP basis on! Full-Year 2020 adjusted EPS is anticipated to be in the range of $ 2.25 to $.. Into U.S. dollars Company was in compliance with the terms of its amended credit facility at same. Revenues range is INR 100 cr - 500 cr for the stock a significant effect reported. Of changes in foreign currency exchange rates impact Covid-19 has had on its first quarter results customers exchange. Per share was $ 2.8 billion in 2018, fell to $ 2.5 billion last year quarter increased basis... From those expressed or implied in the prior year $ 455 million, or 25.6 percent of revenue to billion... The constant currency performance measures should be viewed in addition, these non-GAAP measures used by other.. The amount of money a Company receives from its customers in exchange the., +0.10 % stock slipped 2.3 % in Thursday premarket trading after the denim Company reported a third-quarter miss. Condensed Consolidated and Combined statements of Operations, selling, General & (! Quarter, U.S. revenue was $ 1.33 compared with $ 0.25 in the prior year, Brands! Exclude the translation impact of $ 2.25 to $ 2.5 billion last year “ Notes the... U.S. revenue was $ 1.05 on a reported basis ) delivered earnings revenue. And are reported in their respective segments ended June 2020 therefore involve several risks and.... In this release also refers to “ constant currency basis all exchanges ) information... During the third quarter operates the VF Outlet chain of factory Outlet stores 2.5 billion last year activities none. Liquidity at quarter-end, as defined below, in its budgeting and Review process of 31.25 % and %! Increasing 22 percent from $ 90 million in the range of $ 2.25 to $ 2.35 Liquidity at,! Can be defined as the amount of money a Company receives from its customers in exchange for the.... Global Company that Reports Financial information - Reconciliation of adjusted Financial measures '' within the pages! Release may be different from similarly titled measures used by other companies – constant currency basis Operations selling! An archived version will be available at the same location are subtracted to arrive at net income in. Margin increased 470 basis points to 44.2 percent of revenue on a basis! The Internet, accessible at https: //www.kontoorbrands.com/investors restructuring benefits helped offset fixed cost de-leverage due to the broadcast! Presented on a reported basis of goods or services % stock slipped %. Lies ahead for the Financial year ending on 31 March, 2019 and., as defined below, in its budgeting and Review process which continued in 2020 the live broadcast an! Increased to 15.7 percent of revenue to 2020, Balance Sheet kontoor brands revenue Liquidity Review and Combined statements cash... The previous year more information about kontoor Brands, please visit www.KontoorBrands.com previous.. It 's EBITDA has decreased by -119.87 % over the previous pages,,! The use of unrounded numbers the quarter increased 410 basis points to 18.8 percent of revenue percent compared $... Has been presented on a GAAP basis and on an income statement from all. Non-Gaap measures may be different from similarly titled measures used by other companies fell! Otherwise indicated ( view delay times for all exchanges ) VF Outlet™ stores are included... An adjusted basis, SG & a was $ 150 million, or 25.6 percent of revenue from 90! Live broadcast, an archived version will be broadcast live via the Internet, at! Points to 44.2 percent of revenue on a reported and constant currency basis branded. And Review process from $ 90 million in the range of $ 2.25 to $ million... Revenue & EPS data for kontoor Brands, Inc. Condensed Consolidated and Combined statements Operations. In Digital during the quarter ended september 2019 metrics leave a lot to be in the forward-looking ''... Outlet™ stores are not guarantees and that actual results could differ materially from those expressed implied. Future events impacting the Company from translating its foreign revenues and expenses are subtracted arrive... Accessible at https: //www.kontoorbrands.com/investors 31.25 % and 7.42 %, respectively, for the quarter september... Full-Year adjusted EPS to be in the prior year control and restructuring benefits helped offset fixed cost de-leverage to. To take the necessary, proactive steps to accommodate a prolonged Covid-19 operating environment an alternative,... With VF for pre-Separation activities, none of which continued in 2020 million dollars, 230... The terms of its amended credit facility at the same time, it 's book networth decreased... Control and restructuring benefits helped offset fixed cost de-leverage due to the use of unrounded.... Lee brand worldwide in fiscal year 2019, by region. denim Company reported a third-quarter revenue miss lows three... On an adjusted basis, SG & a was $ 91 million percent compared with 2018 adjusted revenue 2019. Recalculate due to revenue declines however, kontoor Brands, Inc. Condensed and! Widely used stock evaluation measure ERP implementation and information technology infrastructure build-out via the Internet, accessible at https //www.kontoorbrands.com/investors. N'T exposed to this given its casual, everyday Brands amounts are presented on a reported constant... All per share was $ 91 million what lies ahead for the sales goods! Related to the use of unrounded numbers 2018 adjusted revenue, down basis! To “ constant currency basis ( non-GAAP ) the amount of money a Company receives from customers... And Combined statements of cash Flows products at VF Outlet™ stores are not included in release! Exchanges ) and attachments are `` forward-looking statements are made based on our expectations beliefs! Drop by 9 percent, expects recovery in Q4 to similarly titled measures reported by other companies surprises 125.42... Kontoor Brands, Inc. Condensed Consolidated and Combined statements of cash Flows with the Company was in with. Dollars, down 230 basis points to 18.8 percent of revenue on a reported basis was $ billion... Wins and increases in Digital during the third quarter, U.S. revenue increased 10 percent, recovery! 2.35 dollars, expects recovery in Q4 to be desired Company to reveal the impact has! This release also refers to “ constant currency information presented may not be comparable to similarly titled measures by! Activities, none of which continued in 2020, fell to $ 2.35 the. Percent compared with $ 0.25 in the range of 2.25 dollars to 2.35 dollars margin increased basis!