Kontoor Brands, Inc. Reports Q1 FY23 Net Income of $66.3 Million

Kontoor Brands, Inc.(KTB), the global apparel compan y known for its iconic brands such as Wrangler and Lee, has released its unaudited consolidated financial statements for the first quarter of fiscal year 2023. The company reported a net income of $66.3 million for the quarter, along with total revenues of $667.1 million. Let's take a closer look at the financial data to understand the performance of Kontoor Brands during this period.

Consolidated Balance Sheets

As of March 2023, Kontoor Brands reported total assets amounting to $1.64 billion, an increase from $1.58 billion in December 2022. Current assets stood at $1.04 billion, with cash and cash equivalents amounting to $52.7 million, compared to $59.2 million in December 2022.

Consolidated Statements of Operations