Kontoor Brands Expects FY24 Revenue of $2.57B-$2.63B Vs $2.595B Est, Adj EPS $4.70-$4.80 ($4.65-$4.75 prior) Vs $4.66 Est
Portfolio Pulse from Benzinga Newsdesk
Kontoor Brands has updated its FY24 financial outlook, expecting revenue between $2.57B-$2.63B, with an adjusted EPS of $4.70-$4.80, up from the previous $4.65-$4.75 range. Adjusted gross margin is anticipated to be around 44.6%, and adjusted operating income is forecasted to be $377M-$387M. Cash from operations is expected to exceed $335M.
May 02, 2024 | 10:54 am
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Kontoor Brands raises its FY24 revenue to $2.57B-$2.63B and adjusted EPS to $4.70-$4.80, indicating a positive outlook on its financial performance.
The upward revision in Kontoor Brands' financial outlook, including revenue and EPS, suggests a positive trajectory for the company's financial health. This is likely to be viewed favorably by investors, potentially leading to a short-term increase in stock price.
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IMPORTANCE 90
RELEVANCE 100