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HanesBrands: Q1 Earnings Snapshot
By AP News - May 03, 2023, 07:30 AM ET
Last Updated - Jun 21, 2023, 11:31 PM EDT
WINSTON-SALEM, N.C. (AP) — WINSTON-SALEM, N.C. (AP) — HanesBrands Inc. (HBI) on Wednesday reported a loss of $34.4 million in its first quarter.
The Winston-Salem, North Carolina-based company said it had a loss of 10 cents per share. Losses, adjusted for non-recurring costs, came to 6 cents per share.
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The results matched Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was also for a loss of 6 cents per share.
The underwear, T-shirt and sock maker posted revenue of $1.39 billion in the period, exceeding Street forecasts. Three analysts surveyed by Zacks expected $1.38 billion.
For the current quarter ending in June, HanesBrands said it expects revenue in the range of $1.42 billion to $1.47 billion.
The company expects full-year earnings in the range of 31 cents to 42 cents per share, with revenue ranging from $6.05 billion to $6.2 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a HBI">Zacks stock report on HBI at https://www.zacks.com/ap/HBI
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