Kontoor Brands FY24 Outlook: Revenue $2.57B - $2.63B Vs. $2.72B Estimate, Adj. EPS $4.65 - $4.75 Vs. $5.12 Estimate
Portfolio Pulse from Benzinga Newsdesk
Kontoor Brands (KTB) provided its FY24 financial outlook, projecting revenue between $2.57B and $2.63B, below the $2.72B estimate. Adjusted EPS is expected to be $4.65 to $4.75, under the $5.12 estimate. The company anticipates adjusted gross margin expansion and a 7% to 10% increase in adjusted operating income, with cash from operations expected to exceed $325M.
February 28, 2024 | 11:54 am
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NEGATIVE IMPACT
Kontoor Brands projects FY24 revenue and adjusted EPS below estimates, but expects gross margin expansion and increased adjusted operating income.
The projected revenue and adjusted EPS falling below analyst estimates could lead to a negative short-term impact on KTB's stock price. However, the expected margin expansion and operating income growth indicate underlying operational improvements that might mitigate some negative perceptions.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100