HanesBrands gains on strong annual forecast

Hanesbrands

03/05/2023 15:16

** Shares of sportswear maker HanesBrands Inc  HBI.N  up
~4.18% at $5.13
    ** Co forecasts 2023 net sales from continuing operations to
be about $6.05 bln-$6.20 bln, with the mid-point of the range
above the anlaysts' average estimate of $6.06 bln, according to
Refinitiv data
    ** Expects FY adj EPS from continuing operations to be
between $0.31 and $0.42 vs estimates of $0.35
    ** 2023 GAAP EPS from continuing operations expected to be
in the range of $0.14 - $0.25
    ** However, in Q1, co swung to a loss of $0.10/share from a
profit of $0.34/share, a year earlier
    ** Quarterly net sales fell 11.8% to $1.39 bln
    ** HBI shares have fallen 19.7% YTD
    

 (Reporting by Sri Hari N S in Bengaluru)
 ((SriHari.NS@thomsonreuters.com;))