FX.co ★ HanesBrands Guides Q1, FY24 Net Sales Below Estimates - Update

HanesBrands Inc., a leading basic apparel manufacturer, announced its fourth-quarter financial results on Thursday. Along with this, the company also provided its earnings and net sales forecast for the first quarter and the full year of 2024.

In the first quarter, the company predicts a loss between approximately $0.14 to $0.08 per share and an adjusted loss of around $0.10 to $0.04 per share. Net sales are estimated to be between roughly $1.13 billion and $1.19 billion, all from ongoing operations.

According to an average of four analysts surveyed by Thomson Reuters, it is expected that the company will report earnings of $0.06 per share with net sales of $1.31 billion for the quarter. Note that these estimates typically overlook special items.

For the fiscal year 2024, HanesBrands now forecasts earnings of about $0.22 to $0.28 per share and adjusted earnings ranging from approximately $0.42 to $0.48 per share. The company anticipates net sales to be between about $5.35 billion and $5.47 billion, still considering only the ongoing operations.

Meanwhile, Wall Street predicts earnings of $0.48 per share on net sales of $5.58 billion for the year.