HanesBrands FY23 Outlook: Revenue Of $5.7B ($5.80B - $5.9B Prior) Vs. $5.85B Estimate, Adj. EPS $0.12 ($0.16 - $0.30 Prior) Vs. $0.21 Estimate. GAAP EPS -$0.22
Portfolio Pulse from Benzinga Newsdesk
HanesBrands has revised its FY23 outlook, expecting a revenue of $5.7B, down from the previous estimate of $5.8B-$5.9B, and an adjusted EPS of $0.12, down from the previous estimate of $0.16-$0.30. The company also expects a GAAP operating profit of $309M, adjusted operating profit of $425M, and a GAAP loss per share of $0.22. The new estimates include the impact of changes in foreign currency exchange rates and various charges related to transformation and performance plans.
November 09, 2023 | 12:06 pm
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HanesBrands has lowered its FY23 outlook, which could negatively impact investor sentiment and potentially lead to a decrease in the company's stock price in the short term.
HanesBrands has revised its FY23 outlook downwards, which indicates that the company expects lower financial performance than previously estimated. This could negatively impact investor sentiment, as it suggests that the company's future profitability might be lower than expected. As a result, this could lead to selling pressure on the stock, potentially causing its price to decrease in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100