Latest News by Industry
WINSTON-SALEM, N.C. (AP) — WINSTON-SALEM, N.C. (AP) — HanesBrands Inc. (HBI) on Thursday reported a loss of $298.4 million in its second quarter.
On a per-share basis, the Winston-Salem, North Carolina-based company said it had a loss of 85 cents. Earnings, adjusted to account for discontinued operations and restructuring costs, were 15 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 10 cents per share.
The underwear, T-shirt and sock maker posted revenue of $995.4 million in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $1.35 billion.
For the current quarter ending in September, HanesBrands expects its per-share earnings to range from 9 cents to 14 cents.
The company said it expects revenue in the range of $920 million to $950 million for the fiscal third quarter.
HanesBrands expects full-year earnings in the range of 31 cents to 37 cents per share, with revenue ranging from $3.59 billion to $3.63 billion.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HBI at https://www.zacks.com/ap/HBI