2023-08-10 07:02:53 ET
- Hanesbrands press release ( NYSE: HBI ): Q2 Non-GAAP EPS of -$0.01 beats by $0.01 .
- Revenue of $1.44B (-4.6% Y/Y) misses by $20M .
- The company expects Q3 adjusted EPS between $0.07-$0.13 and FY EPS in the range of $0.16-$0.30.
- “We reported second-quarter results in line with our outlook. We also delivered sequential gross margin improvement, further reduced inventory, generated positive operating cash flow, and began paying down debt earlier than expected,” said Steve Bratspies, CEO. “We’re confident in our ability to exit the year with gross margin in the high 30% range, generate $500 million of operating cash flow, and pay down more than $400 million of debt, despite the difficult apparel market, particularly in Australia and the U.S. activewear category, which caused us to adjust our second-half outlook.”
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Hanesbrands Non-GAAP EPS of -$0.01 beats by $0.01, revenue of $1.44B misses by $20M