Kontoor Brands Q2 Adj. EPS $0.77 Beats $0.66 Estimate, Sales $616.01M Miss $625.50M Estimate
Portfolio Pulse from Benzinga Newsdesk
Kontoor Brands (NYSE:KTB) reported Q2 earnings of $0.77 per share, beating the analyst consensus estimate of $0.66 by 16.67%. However, this is a 29.36% decrease from the same period last year. The company's quarterly sales of $616.01 million missed the analyst consensus estimate of $625.50 million by 1.52%, but it's a 0.40% increase from the same period last year.
August 04, 2023 | 12:51 pm
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NEUTRAL IMPACT
Kontoor Brands beat Q2 earnings estimates but reported a YoY decrease. Sales missed estimates but increased YoY.
Kontoor Brands' Q2 earnings beat estimates, which is positive for the stock. However, the YoY decrease in earnings and the missed sales estimates could negatively impact the stock. The YoY increase in sales is a positive factor. The mixed results make the short term impact neutral.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100