Kontoor Brands Q1 2024 Adj EPS $1.16 Beats $0.91 Estimate, Sales $631.202M Beat $609.098M Estimate
Portfolio Pulse from Benzinga Newsdesk
Kontoor Brands (KTB) reported Q1 2024 adjusted EPS of $1.16, surpassing the $0.91 estimate, with sales of $631.202M also beating the $609.098M estimate, despite a 5.38% decrease from the previous year.
May 02, 2024 | 10:51 am
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Kontoor Brands reported a strong Q1 2024 performance with earnings and sales exceeding analyst expectations, although there was a slight decrease in sales compared to last year.
Beating both earnings and sales estimates typically generates positive investor sentiment, potentially leading to a short-term increase in stock price. The reported decrease in sales year-over-year is a concern, but the significant beat on estimates may outweigh this in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100