Hanesbrands (HBI) Q4 Earnings Report Preview: What To Look For
Stock Story
Published Feb 14, 2024 02:01AM ET
Updated Feb 14, 2024 07:31AM ET
Hanesbrands (HBI) Q4 Earnings Report Preview: What To Look For
Clothing company Hanesbrands (NYSE:HBI) will be reporting results tomorrow before the bell. Here's what investors should know.
Last quarter Hanesbrands reported revenues of $1.51 billion, down 9.5% year on year, missing analyst expectations by 2.4%. It was a weak quarter for the company, with underwhelming revenue and non-GAAP EPS guidance for the next quarter.
Is Hanesbrands buy or sell heading into the earnings? Find out by reading the original article on StockStory.
This quarter analysts are expecting Hanesbrands's revenue to decline 7.4% year on year to $1.36 billion, improvement on the 15.9% year-over-year decrease in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.09 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates five times over the last two years.
Looking at Hanesbrands's peers in the apparel, accessories and luxury goods segment, some of them have already reported Q4 earnings results, giving us a hint of what we can expect. Ralph Lauren (NYSE:RL) delivered top-line growth of 5.6% year on year, beating analyst estimates by 3.4% and Tapestry (NYSE:TPR) reported revenues up 2.9% year on year, exceeding estimates by 1.4%. Ralph Lauren traded up 6.7% on the results, Tapestry was up 2.6%.
Read the full analysis of Ralph Lauren's and Tapestry's results on StockStory.
There has been positive sentiment among investors in the apparel, accessories and luxury goods segment, with the stocks up on average 3.2% over the last month. Hanesbrands is up 10.6% during the same time, and is heading into the earnings with analyst price target of $5.8, compared to share price of $4.5.
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Written By: Stock Story
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