Hanesbrands shares sink after weak guidance

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Hanesbrands Inc.












HBI, -2.18%










shares sank 5.7% in Wednesday after-hours trading after the company gave weak fourth-quarter and full-year earnings guidance. Net income for the quarter was $203.4 million, or 55 cents per share, up from $173.9 million, or 45 cents per share, for the same period last year. Adjusted EPS was 60 cents, in line with the FactSet consensus. Revenue totaled $1.80 billion, up from $1.76 billion last year, and in line with the $1.80 billion FactSet estimate. The company expects sales of $1.625 billion to $1.650 billion in the fourth quarter, EPS of 47-to-49 cents, and adjusted EPS of 51-to-53 cents. The FactSet consensus is for sales of $1.625 billion and EPS of 56 cents. Full-year sales are expected to be $6.450 to $6.475 billion, full-year EPS is expected to be $1.68 to $1.70, and adjusted EPS is guided for $1.93 to $1.95. The FactSet estimate is for sales of $6.460 billion and EPS of $1.98. Hanesbrands shares are up 2% for the year so far, but down 11.8% for the past 12 months. The S&P 500 index












SPX, +0.16%










is up 22.1% for the last year.

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