HanesBrands: 3Q Earnings Snapshot

HanesBrands: 3Q Earnings Snapshot


Thursday, November 1, 2018

WINSTON-SALEM, N.C. (AP) _ HanesBrands Inc. (HBI) on Thursday reported third-quarter profit of $171.4 million.

The Winston-Salem, North Carolina-based company said it had net income of 47 cents per share. Earnings, adjusted for non-recurring costs, were 55 cents per share.

The results met Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was also for earnings of 55 cents per share.

The underwear, T-shirt and sock maker posted revenue of $1.85 billion in the period, falling short of Street forecasts. Four analysts surveyed by Zacks expected $1.87 billion.

For the current quarter ending in December, HanesBrands expects its per-share earnings to range from 46 cents to 50 cents.

The company said it expects revenue in the range of $1.7 billion to $1.74 billion for the fiscal fourth quarter.

HanesBrands expects full-year earnings in the range of $1.69 to $1.73 per share, with revenue ranging from $6.74 billion to $6.78 billion.

HanesBrands shares have dropped 17 percent since the beginning of the year. The stock has decreased 23 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HBI at https://www.zacks.com/ap/HBI