Hanesbrands Inc. (NYSE:HBI) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Hanesbrands Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.51 in the quarter versus EPS of $-0.25 in the year-earlier quarter.
Revenue: Decreased 6.28% to $945 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Hanesbrands Inc. reported adjusted EPS income of $0.51 per share. By that measure, the company beat the mean analyst estimate of $0.50. It beat the average revenue estimate of $944.96 million.
Quoting Management: “We are pleased with our ongoing strategic execution, which resulted in improved profitability in the first quarter and bolsters our outlook for the rest of the year,” Hanes Chairman and Chief Executive Officer Richard A. Noll said. “Our operating profit margin was strong, our brands are commanding more retail shelf space, and our product innovation is working. We have more margin improvement potential ahead of us.”
Key Stats (on next page)…