HanesBrands: 2Q Earnings Snapshot
Aug. 01, 2018
WINSTON-SALEM, N.C. (AP) _ HanesBrands Inc. (HBI) on Wednesday reported second-quarter earnings of $140.6 million.
On a per-share basis, the Winston-Salem, North Carolina-based company said it had net income of 39 cents. Earnings, adjusted for one-time gains and costs, came to 45 cents per share.
The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 46 cents per share.
The underwear, T-shirt and sock maker posted revenue of $1.72 billion in the period, which matched Street forecasts.
For the current quarter ending in October, HanesBrands expects its per-share earnings to range from 54 cents to 57 cents.
The company said it expects revenue in the range of $1.85 billion to $1.9 billion for the fiscal third quarter.
HanesBrands expects full-year earnings in the range of $1.72 to $1.80 per share, with revenue ranging from $6.72 billion to $6.82 billion.
HanesBrands shares have climbed 6.5 percent since the beginning of the year. The stock has fallen nearly 3 percent in the last 12 months.