Hanesbrands Profit Tops Estimate; Lifts FY Adj. EPS Guidance - Quick Facts

(RTTNews) - Hanesbrands Inc. (HBI), a maker of basic apparels, Wednesday reported third-quarter net earnings of $118.9 million or $1.16 a share compared with $125.3 million or $1.23 a share last year.

Excluding items, adjusted earnings for the quarter were $1.73 a share.

Revenues for the quarter were up 17% at $1.4 billion compared with $1.2 billion in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $1.68 a share on revenues of $1.41 billion for the quarter. Analysts' estimates typically exclude special items.

For the fourth quarter, the company projects adjusted earnings of $1.35 to $1.45 a share on sales of $1.55 billion to $1.57 billion. Analysts expect earnings of $1.40 a share on sales of $1.55 billion.

For the full year, the company now expects adjusted earnings of $5.55 to $5.65 a share, up from the prior range of $5.40 to $5.60 a share. Sales are still estimated in the range of $5.35 billion to $5.38 billion.

Analysts expect earnings of $5.58 a share on sales of $5.36 billion for the year.