Hanesbrands Earnings: HBI Stock Finishes About 2% Lower on Q4 Meet

Hanesbrands (NYSE:HBI) earnings for the clothing company’s fourth quarter of 2019 have HBI stock dipping lower on Friday. That’s after reporting adjusted earnings per share (EPS) of 51 cents on revenue of $1.75 billion. These both match what Wall Street was estimating for the quarter.

Hanesbrands Earnings: HBI Stock Ticks 1% Lower on Q4 Meet

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Let’s take a more thorough look at the most recent Hanesbrands earnings report.

  • Adjusted EPS is up 24.39% from 41 cents during the same period of the year prior.
  • Revenue comes in 1.13% lower than the $1.77 billion from the fourth quarter of 2018.
  • Operating income of $243.42 million is a marginal drop YoY compared to $244.12 million.
  • The Hanesbrands earnings report also has the company bringing in a net income of about $184.99 million.
  • That’s a 23.3% boost over the company’s net income of $150.03 million from the same time last year.

Gerald W. Evans Jr., CEO of Hanesbrands, has this to say about the company’s earnings report:

“HanesBrands delivered a solid fourth quarter right in line with our guidance and concluded a very successful year with record operating cash flow, significantly reduced debt, continued organic revenue growth, and strong underlying business fundamentals.”

The Hanesbrands earnings report also includes its 2020 outlook. This has it expecting adjusted EPS of $1.72 to $1.80 on revenue of $6.675 billion to $6.775 billion. Wall Street’s estimates are for $1.76 per share and revenue of $6.82 billion.

HBI stock was down around 2% as of Friday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2020/02/hanesbrands-earnings-dip-hbi-stock/.

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