Kontoor Brands Affirms FY2023 GAAP EPS Guidance of $4.55-4.75 vs $4.43 Est
Portfolio Pulse from Benzinga Newsdesk
Kontoor Brands has reaffirmed its FY2023 GAAP EPS guidance of $4.55-4.75, against an estimate of $4.43. The company expects revenue to increase at a low-single digit percentage over 2022, with stronger growth in the second half of the year. Adjusted gross margin is expected to be between 43.5% and 44.0%, and adjusted SG&A is expected to increase at a mid-single digit percentage. Capital expenditures are expected to be between $35 million and $40 million.
August 04, 2023 | 12:54 pm
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Kontoor Brands has reaffirmed its FY2023 GAAP EPS guidance, which is higher than the estimate. This, along with expected revenue growth and gross margin expansion, could have a positive impact on the stock.
The reaffirmation of the EPS guidance, which is higher than the estimate, indicates the company's confidence in its performance. This, along with the expected revenue growth and gross margin expansion, could be seen as positive by investors and could lead to an increase in the stock price.
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IMPORTANCE 80
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