Hanesbrands Inc. (NYSE:HBI) Q4 2023 Earnings Conference Call February 15, 2024 8:30 AM ET Company Participants T.C. Robillard - Vice President of Investor Relations Stephen Bratspies - Chief Executive Officer Scott Lewis - Chief Financial Officer Conference Call Participants Jay Sole - UBS Paul Lejuez - Citi Paul Kearney - Barclays Capital Ike Boruchow - Wells Fargo Hale Holden - Barclays Capital Carla Casella - J.P. Morgan Operator Good day. And thank you for standing by. Welcome to the HanesBrands' Fourth ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-32891 Hanesbrands Inc. (Exact name of registrant as specified in its charter) Maryland 20-3552316 1000 East Hanes Mi ...

Hanesbrands Inc. (NYSE:HBI) Q3 2023 Earnings Conference Call November 9, 2023 8:30 AM ET Company Participants T.C. Robillard - Vice President of Investor Relations Stephen Bratspies - Chief Executive Officer Scott Lewis - Chief Financial Officer Conference Call Participants Jay Sole - UBS Ike Boruchow - Wells Fargo Paul Kearney - Barclays Tom Nikic - Wedbush Securities Carla Casella - JPMorgan William Reuter - Bank of America Operator Good day ladies and gentlemen and welcome to the HanesBrands Third Quarte ...

Conference Call Participants I would now like to hand the conference over to your speaker today, T.C. Robillard, Vice President of Investor Relations. Please go ahead. On the call today, we may make forward-looking statements either in our prepared remarks or in the associated question-and-answer session. These statements are based on current expectations or beliefs and are subject to certain risks and uncertainties that may cause actual results to differ materially. These risks include those related to cur ...

Hanesbrands Inc. (NYSE:HBI) Q1 2023 Earnings Conference Call May 3, 2023 8:30 AM ET TC Robillard - Vice President, Investor Relations Steve Bratspies - Chief Executive Officer Scott Lewis - Chief Accounting Officer and Interim Chief Financial Officer Jay Sole - UBS Ike Boruchow - Wells Fargo Paul Kearney - Barclays Tom Nikic - Wedbush Securities Jim Duffy - Stifel Carla Casella - JPMorgan Good day and thank you for standing by. Welcome to the Hanesbrands First Quarter 2023 Earnings Conference Call. At this ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-32891 Hanesbrands Inc. (Exact name of registrant as specified in its charter) Maryland 20-3552316 (State of incorporation) (I.R.S. employer ide ...

Financial Data and Key Metrics - The company expects to generate approximately $500 million in operating cash flow in 2023, with a focus on debt reduction [23] - Adjusted gross margin for Q1 2023 is expected to decline by approximately 300 basis points due to commodity and freight inflation [50] - Full-year adjusted operating profit is projected to range between $500 million and $550 million, with Q1 adjusted operating profit expected to be between $50 million and $70 million [51] - Adjusted EPS for the full year is expected to range from $0.31 to $0.42, while Q1 adjusted EPS is projected to be a loss of $0.09 to $0.04 [52] Business Line Data and Key Metrics - The company has reduced global SKUs by 45% since 2019 and exited unproductive facilities, leading to high single-digit savings rates in sourcing and procurement operations [24] - The activewear business is undergoing operational streamlining, including global coordination of product design and merchandising, increased speed to market, and portfolio simplification [24] Market Data and Key Metrics - The company expects net sales to decline by 1% in constant currency or approximately 2% on a reported basis for the full year 2023, with easing comparisons beginning in Q2 [49] - The U.S. market is expected to remain challenging due to inflation, while Asia shows mixed results with improving traffic in Japan and China reopening post-COVID [124] Company Strategy and Industry Competition - The company is shifting its capital allocation strategy to focus on debt reduction, eliminating the dividend, and committing to reducing leverage to a range of 2-3x net debt to adjusted EBITDA [75] - The company is implementing cost-saving initiatives, including exiting unproductive facilities, consolidating sourcing vendors, and aggressively managing SG&A [22] - The company is confident in achieving its long-term financial targets, including $8 billion in sales and a 14% operating margin, despite a shifted timeline to 2026 [70] Management Commentary on Operating Environment and Future Outlook - Management expects macroeconomic challenges, including inflation and consumer demand pressures, to persist in 2023, particularly in the first half [38] - The company anticipates margin improvement in the second half of 2023 as lower-cost inventory begins to impact the P&L and inflationary pressures ease [21] - Management is optimistic about the company's ability to improve cash flow and margins as the year progresses, driven by cost-saving initiatives and operational efficiencies [44] Other Important Information - The company has recorded a non-cash reserve against its deferred tax asset, which will increase accounting tax expense and the effective tax rate in 2023 but will not impact cash taxes [28] - The company expects to refinance approximately $1.4 billion of its 2024 maturities in Q1 2023, subject to market conditions [29] Q&A Session Summary Question: Confidence in Business Improvement and Debt Refinancing [55] - Management expressed confidence in the business's foundational capabilities and expects margin improvement in the second half of 2023 as lower-cost inventory rolls through the P&L [56][57] - The company is prioritizing debt reduction and has eliminated the dividend to focus on improving shareholder returns in the long term [58] Question: Top-Line Progression and Retailer Inventory Actions [61] - Management expects a muted consumer demand environment in 2023, with retailer inventory actions likely to continue into Q1, leading to a conservative top-line outlook [62] Question: Inventory and Cost Dynamics [65] - Inventory dollars are up 25%, with unit costs increasing in the low to mid-teens due to inflation and mix [65] Question: Tax Rate and Inventory Cash Flow [67] - The effective tax rate for 2023 is expected to be 40%-45%, with deferred tax accounting expected to normalize over several years [68] - The company expects to release working capital and drive operating cash flow back to historical levels in 2023 [80] Question: SG&A Savings and Full Potential Plan [101] - The company has realized significant SG&A savings in 2022 and expects further savings in 2023 and 2024, while continuing to invest in technology and brand growth [102] Question: Champion Brand Recovery and Dividend Reinstatement [131][145] - Management is confident in the Champion brand's recovery, citing new leadership, product innovation, and channel segmentation as key drivers [132][133] - The company has no immediate plans to reinstate the dividend, focusing instead on debt reduction and long-term shareholder returns [149] Question: Interest Expense and Inventory Management [92][94] - The company expects adjusted interest and other expenses to be nearly $300 million for the full year, driven by higher variable rate debt and refinancing costs [51] - Inventory management is expected to drive working capital benefits in 2023, with units down 6% compared to the prior year [91]

Hanesbrands Inc. (NYSE:HBI) Q3 2022 Earnings Conference Call November 9, 2022 8:30 AM ET Company Participants T.C. Robillard - Investor Relations Steve Bratspies - Chief Executive Officer Michael Dastugue - Chief Financial Officer Conference Call Participants Michael Binetti - Credit Suisse Tom Nikic - Wedbush Peter McGoldrick - Stifel Will Gaertner - Wells Fargo Jay Sole - UBS Brandon Cheatham - Citi Paul Kearney - Barclays Operator Good day and thank you for standing by. Welcome to the HanesBrands Third Q ...

Hanesbrands Inc. (NYSE:HBI) Q2 2022 Earnings Conference Call August 11, 2022 8:30 AM ET Company Participants TC Robillard - Vice President, Investor Relations Steve Bratspies - Chief Executive Officer Michael Dastugue - Chief Financial Officer Conference Call Participants Michael Binetti - Credit Suisse Susan Anderson - B. Riley Will Gaertner - Wells Fargo Jim Duffy - Stifel Jay Sole - UBS Paul Kearney - Barclays Tom Nikic - Wedbush Operator Good day, and thank you for standing by. Welcome to the Second Qua ...

Hanesbrands Inc. (NYSE:HBI) Q1 2022 Earnings Conference Call May 5, 2022 8:30 AM ET Company Participants Steve Bratspies - Chief Executive Officer Michael Dastugue - Chief Financial Officer TC Robillard - Vice President, Investor Relations Conference Call Participants Omar Saad - Evercore Michael Binetti - Credit Suisse Susan Anderson - B. Riley Jim Duffy - Stifel Jay Sole - UBS Brandon Cheatham - Citi Paul Kearney - Barclays David Swartz - Morningstar Operator Good day and thank you for standing by. Welcom ...