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HanesBrands: 4Q Earnings Snapshot

HanesBrands: 4Q Earnings Snapshot

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Thursday, February 7, 2019

WINSTON-SALEM, N.C. (AP) _ HanesBrands Inc. (HBI) on Thursday reported fourth-quarter net income of $161.6 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Winston-Salem, North Carolina-based company said it had profit of 44 cents. Earnings, adjusted for costs related to mergers and acquisitions, came to 48 cents per share.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.

The underwear, T-shirt and sock maker posted revenue of $1.77 billion in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $1.72 billion.

For the year, the company reported profit of $553.1 million, or $1.52 per share. Revenue was reported as $6.8 billion.

For the current quarter ending in April, HanesBrands expects its per-share earnings to range from 24 cents to 26 cents.

The company said it expects revenue in the range of $1.52 billion to $1.55 billion for the fiscal first quarter.

HanesBrands expects full-year earnings in the range of $1.72 to $1.80 per share, with revenue ranging from $6.89 billion to $6.99 billion.

HanesBrands shares have climbed 24 percent since the beginning of the year. The stock has fallen 28 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

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