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Wednesday, November 1, 2017

=Hanesbrands (HBI) reported earnings on Wed 1 Nov 2017 (a/h)

Hanesbrands reports EPS in-line, revs in-line; guides Q4 EPS below consensus, revs in-line 
  • Reports Q3 (Sep) earnings of $0.60 per share, in-linewith the Capital IQ Consensus of $0.60; revenues rose 2.2% year/year to $1.8 bln vs the $1.8 bln Capital IQ Consensus.
  • HBI generated organic sales growth -- as reported and in constant currency -- for the first time in eight quarters. The company benefitted from increasing geographic diversification as International sales growth more than offset sluggish domestic sales.
  • HBI generated $297 million in cash from operations in the third quarter and has generated $331 million year to date, up 59% from a year ago. Cash flow is benefitting from working capital improvements and increased profitability.
  • Co issues guidance for Q4, sees EPS of $0.51-$0.53 vs. $0.56 Capital IQ Consensus Estimate; sees Q4 revs of $1.625-$1.650 bln vs. $1.63 bln Capital IQ Consensus Estimate. The sales guidance reflects several factors, including: a cautious outlook for the U.S. sales environment; an estimated $15 million in sales expected from the acquisition of Alternative Apparel; and the expected adverse effect of the Sears Canada bankruptcy.

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