Kontoor Brands Shares Soar After Q2 Earnings Beat, Sees Margin Expansion In 2H
Portfolio Pulse from Nabaparna Bhattacharya
Kontoor Brands, Inc. (NYSE:KTB) shares rose after Q2 FY23 earnings beat expectations with an adjusted EPS of $0.77, surpassing the consensus of $0.66. However, Q2 sales of $616.01 million missed the consensus of $625.50 million. The company expects FY23 revenue to increase at a low-single-digit percentage Y/Y, and reiterates FY23 Adjusted EPS of $4.55 - $4.75. KTB also anticipates gross margin expansion in the second half of the year.
August 04, 2023 | 1:52 pm
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Kontoor Brands' Q2 earnings beat expectations, leading to a rise in its share price. The company maintains a positive outlook for FY23, which could further influence its stock.
Kontoor Brands' Q2 earnings beat expectations, which is a positive signal for investors and can lead to a rise in the company's share price. The company's positive outlook for FY23 indicates confidence in its future performance, which could further attract investors and positively impact its stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100