James Darell/DigitalVision via Getty Images When Hanesbrands (NYSE:HBI) announced the Champions deal in June, I wondered what would be in play for the company. Shares got a boost on the back of the announcement, with investors liking the leverage reduction, yet I still feared the overall investment case as the company still held quite some debt while operating performance remained challenging. Following a resilient second quarter earnings report and comforting words about the pro forma business and its outl ...

Core Viewpoint - Hanesbrands Inc. (HBI) reported mixed second-quarter 2024 results, with a decline in net sales year over year and a miss on the Zacks Consensus Estimate, while adjusted earnings improved and surpassed expectations. Management has lowered its net sales and earnings outlook for 2024 due to challenges in the consumer and apparel market [1]. Financial Performance - Adjusted earnings from continuing operations were 15 cents per share, exceeding the Zacks Consensus Estimate of 10 cents and up from 2 cents per share in the year-ago quarter [2]. - Net sales from continuing operations fell nearly 4% to $995 million, below the Zacks Consensus Estimate of $1,350.6 million, impacted by a 130 basis points decline from the U.S. Hosiery divestiture and 150 basis points from unfavorable currency rates. On a constant-currency basis, organic net sales decreased nearly 1% [3]. - Adjusted gross profit was $396 million, an 11% increase year over year, with an adjusted gross margin of 39.8%, up nearly 525 basis points, exceeding expectations due to reduced input costs and cost-saving measures [4]. - Adjusted SG&A expenses were $270 million, flat year over year, but as a percentage of net sales, they increased by 100 basis points to 27.1%, primarily due to higher brand marketing investments [5]. - Adjusted operating profit rose 46% year over year to $126 million, with an adjusted operating margin of 12.7%, up 430 basis points [6]. Segment Analysis - The U.S. segment's net sales dropped 1% year over year, but the company gained 40 basis points of innerwear market share through increased marketing and innovations, resulting in an operating margin of 21.4%, up almost 470 basis points [8]. - International segment net sales fell about 4% on a reported basis, including a $15 million impact from unfavorable foreign exchange rates. However, on a constant-currency basis, international sales rose 2%, with growth in the Americas and Asia [9]. Guidance - For 2024, net sales from continuing operations are projected to be between $3.59 billion and $3.63 billion, reflecting an anticipated decline of nearly 4% year over year on a reported basis and approximately 2% on an organic basis at constant currency [12]. - Adjusted operating profit is expected to be between $395 million and $415 million, with adjusted earnings per share projected at 31-37 cents, down from earlier expectations [13]. - For the third quarter of 2024, net sales are anticipated to be between $920 million and $950 million, suggesting a nearly 3% year-over-year decline on a reported basis [14]. Other Financial Details - The company ended the quarter with cash and cash equivalents of $213.8 million, long-term debt of $3,224.2 million, and total stockholders' equity of $64.4 million, with over $1 billion available under its credit facility [10]. - The company generated $78 million in net cash from operating activities and reported free cash flow of $71 million in the second quarter [10]. Stock Performance - HBI's shares have gained 11.1% over the past three months, contrasting with a 16.1% decline in the industry [15].

HanesBrands (HBI) came out with quarterly earnings of $0.15 per share, beating the Zacks Consensus Estimate of $0.10 per share. This compares to loss of $0.01 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 50%. A quarter ago, it was expected that this underwear, T-shirt and sock maker would post a loss of $0.06 per share when it actually produced a loss of $0.02, delivering a surprise of 66.67%. Over the last four quarters, t ...

Hanesbrands Inc. (HBI) is likely to post year-over-year bottom-line growth when it reports second-quarter 2024 earnings on Aug 8 before market open. The Zacks Consensus Estimate for earnings is pegged at 10 cents per share. The company incurred a loss of 1 cent per share in the prior-year quarter. The consensus mark has remained unchanged in the past 30 days. The consensus estimate for quarterly revenues is pegged at $1.4 billion, indicating a drop of 6.1% from the year-ago quarter's reported figure. HBI ha ...

The investment community will be closely monitoring the performance of HanesBrands in its forthcoming earnings report. The company is scheduled to release its earnings on August 8, 2024. The company's upcoming EPS is projected at $0.10, signifying a 1100% increase compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.35 billion, indicating a 6.14% decrease compared to the same quarter of the previous year. Our research demonstrates that the ...

HanesBrands (HBI) shares rallied 5.8% in the last trading session to close at $5.67. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 11.2% gain over the past four weeks. This underwear, T-shirt and sock maker is expected to post quarterly earnings of $0.10 per share in its upcoming report, which represents a year-over-year change of +1100%. Revenues are expected to be $1.35 billion, down 6.1% from the year-ag ...

The latest trading session saw HanesBrands (HBI) ending at $5.36, denoting no adjustment from its last day's close. This change was narrower than the S&P 500's daily loss of 2.32%. Meanwhile, the Dow lost 1.25%, and the Nasdaq, a tech-heavy index, lost 3.64%. In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.46 per share and a revenue of $5.37 billion, indicating changes of +666.67% and -4.66%, respectively, from the former year. Ranging from #1 (Strong Buy) to #5 (Str ...

The most recent trading session ended with HanesBrands (HBI) standing at $5.42, reflecting a -1.28% shift from the previouse trading day's closing. The stock trailed the S&P 500, which registered a daily loss of 0.78%. Elsewhere, the Dow lost 1.29%, while the tech-heavy Nasdaq lost 0.7%. In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.46 per share and a revenue of $5.37 billion, indicating changes of +666.67% and -4.66%, respectively, from the former year. The upcomi ...

HanesBrands (HBI) closed at $4.74 in the latest trading session, marking a +1.72% move from the prior day. The stock's change was more than the S&P 500's daily gain of 1.02%. Meanwhile, the Dow gained 1.09%, and the Nasdaq, a tech-heavy index, added 1.18%. For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.46 per share and a revenue of $5.37 billion, signifying shifts of +666.67% and -4.66%, respectively, from the last year. In the context of valuation, HanesBrands is at present ...

Core Viewpoint - HanesBrands is expected to show significant earnings growth in its upcoming earnings report, despite a projected decline in revenue compared to the previous year [2][7]. Financial Performance - The stock closed at $4.84, reflecting a 0.41% increase from the previous trading session, outperforming the S&P 500's gain of 0.09% [1]. - The forecasted EPS for the upcoming quarter is $0.10, indicating a remarkable 1100% increase from the same quarter last year [2]. - For the full year, the Zacks Consensus Estimates project earnings of $0.46 per share, representing a 666.67% increase year-over-year [7]. - Revenue is expected to be $1.35 billion for the upcoming quarter, which is a 6.14% decline compared to the same quarter last year [2]. - The full-year revenue estimate is $5.37 billion, reflecting a 4.66% decrease from the prior year [7]. Valuation Metrics - HanesBrands has a Forward P/E ratio of 10.56, which is lower than the industry average Forward P/E of 14.48 [4]. Industry Context - The Textile - Apparel industry, part of the Consumer Discretionary sector, holds a Zacks Industry Rank of 78, placing it in the top 31% of over 250 industries [9]. - The Consumer Discretionary sector gained 2.11% over the past month, while HanesBrands shares increased by 0.21% during the same period [6]. Analyst Sentiment - Recent shifts in analyst projections for HanesBrands are crucial, as positive estimate revisions are seen as a favorable indicator for the company's business outlook [3]. - The Zacks Rank system currently rates HanesBrands as 1 (Strong Buy), with a proven track record of outperformance [11].