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HanesBrands Reports Significant Loss in Quarterly Earnings Update

By USinMinutes - Aug 08, 2024, 06:32 AM ET
Last Updated - Aug 08, 2024, 06:56 PM EDT
HanesBrands Reports Significant Loss in Quarterly Earnings Update

HanesBrands Q2 Revenue Decreases by 3.8% Year-over-Year

HanesBrands Inc. [HBI] reported a net loss of $63,129 for the second quarter ended June 29, 2024. Compared to the previous quarter, the loss represents a significant change in financial performance for the apparel company in Q2.

The company, headquartered in Winston-Salem, N.C., has filed with SEC an 8-K earnings report.

HanesBrands Inc., a prominent player in the apparel industry, reported revenue of $995,393. This figure represents a decrease from the previous quarter's revenue, indicating fluctuations in the company's financial performance within the industry sector.

In comparison to the same quarter in the previous year, HanesBrands Inc. experienced a decrease in revenue, with a revenue for the current quarter of $995,393. Additionally, there was a notable percentage change in profit or loss for the current quarter when compared to the same quarter in the previous year.

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As of August 7, 2024 end of day trading.

Dollars in millions
Dec 30, 2023    Sep 30, 2023    Jul 01, 2023    Apr 01, 2023   

Income Statement

Revenue $1,296.8  $1,511.3  $1,439.0  $1,389.4 
Operating Profit $96.1  $66.0  -$22.5  $57.3 
Net Income $77.9  -$38.8  -$22.5  -$34.4 
Net Cash -$32.9  $0.0  $0.0  -$25.2 
Gross Margin $493.7  $470.3  $482.7  $449.7 
Operating Margin $0.0  $0.0  -$0.0  $0.0 
Profit as % of Revenues38.07 31.12 33.55 32.37 
Profit as % of Assets1.28 -0.62 -0.35 -0.53 
Profit as % of Stockholder Equity18.59 -14.16 -6.46 -10.13 
Return on Equity18.59 -14.16 2.87 -10.13 
Return on Assets1.38 -0.66 0.16 -0.53 
Turnover Ratio0.21 0.24 0.23 0.21 

Balance Sheet

Total Assets $5,640.3  $5,913.3  $6,279.0  $6,432.7 
Total Liabilities $5,221.0  $5,639.3  $5,931.1  $6,093.2 

Cash Flow Statement

Operating Cash Flow $561.7  $0.0  $0.0  $44.5 
Investing Cash Flow -$23.5  $0.0  $0.0  -$5.3 
Financing Cash Flow -$580.1  $0.0  $0.0  -$64.2 
 
USinMinutes is an offering of 10kInfo, Inc., bringing you news on the latest regulatory filings. Although we take care to ensure accuracy, the article does not intend to replace user diligence in decisions of financial or legal implications.
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