Kontoor Brands (KTB) Q3 Earnings and Revenues Surpass Estimates

Core Viewpoint - Kontoor Brands (KTB) reported quarterly earnings of $1.37 per share, exceeding the Zacks Consensus Estimate of $1.25 per share, and showing an increase from $1.22 per share a year ago, indicating a 9.60% earnings surprise [1][2] Financial Performance - The company achieved revenues of $670.19 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 1.50% and up from $654.54 million year-over-year [2] - Over the last four quarters, Kontoor has exceeded consensus EPS estimates three times and has topped consensus revenue estimates three times as well [2] Stock Performance - Kontoor shares have increased approximately 22.7% since the beginning of the year, compared to a 21.9% gain in the S&P 500 [3] - The current consensus EPS estimate for the upcoming quarter is $1.41 on revenues of $712 million, and for the current fiscal year, it is $4.80 on revenues of $2.61 billion [7] Industry Outlook - The Textile - Apparel industry, to which Kontoor belongs, is currently ranked in the bottom 35% of over 250 Zacks industries, which may impact stock performance [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, suggesting that investors should monitor these revisions closely [5][6]