HanesBrands Guides Q1, FY24 Net Sales Below Estimates - Update

(RTTNews) - While reporting financial results for the fourth quarter on Thursday, basic apparel maker HanesBrands, Inc. (HBI) provided earnings and net sales guidance for the first quarter, and for the full-year 2024.

For the first quarter, the company expects loss in a range of about $0.14 to $0.08 per share and adjusted loss in a range of about $0.10 to $0.04 per share on net sales between about $1.13 billion and $1.19 billion, all from continuing operations.

On average, four analysts polled by Thomson Reuters expect the company to report earnings of $0.06 per share on net sales of $1.31 billion for the quarter. Analysts' estimates typically exclude special items.

For fiscal 2024, the company now projects earnings in a range of about $0.22 to $0.28 per share and adjusted earnings in a range of about $0.42 to $0.48 per share on net sales between about $5.35 billion and $5.47 billion, all from continuing operations.

The Street is looking for earnings of $0.48 per share on net sales of $5.58 billion for the year.

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