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Wednesday, August 1, 2018

-=Hanesbrands (HBI) reported earnings on Wed 1 Aug 2018 (b/o)



Hanesbrands misses by $0.01, reports revs in-line; guides Q3 in-line; reaffirms FY18 EPS guidance, revs guidance; Target and co will not renew their contract for an exclusive line of C9 by Champion activewear apparel when the current contract expires at the end of January 2020 
  • Reports Q2 (Jun) earnings of $0.45 per share, $0.01 worse than the Capital IQ Consensus of $0.46; revenues rose 4.2% year/year to $1.72 bln vs the $1.71 bln Capital IQ Consensus; organic sales up slightly.
  • Co issues in-line guidancefor Q3, sees EPS of $0.54-0.57, excluding non-recurring items, vs. $0.56 Capital IQ Consensus Estimate; sees Q3 revs of $1.85-1.90 bln vs. $1.88 bln Capital IQ Consensus Estimate.
  • Co reaffirms guidance for FY18, sees EPS of $1.72-1.80 vs. $1.76 Capital IQ Consensus Estimate; sees FY18 revs of $6.72-6.82 bln vs. $6.77 bln Capital IQ Consensus Estimate. 
  • HanesBrands announced that the company and Target Corporation (TGT) will not renew their contract for an exclusive line of C9 by Champion activewear apparel when the current contract expires at the end of January 2020. The C9 program is fully booked for 2018 and the conclusion of the contract is not expected to have a meaningful effect on the company's outlook for 2019. In the past 12 months, the company generated ~$380 million in C9 by Champion activewearsales. With the brand's forecasted growth rate, the company continues to expect to achieve global Champion sales of more than $2 billion by 2022. The company does not expect the end of the C9 by Champion program at Target to affect that projection.

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