Kontoor Brands Q2 Adj $0.98 Beats $0.88 Estimate, Sales $606.90M Beat $595.62M Estimate
Portfolio Pulse from Benzinga Newsdesk
Kontoor Brands (NYSE:KTB) reported Q2 earnings of $0.98 per share, beating the analyst estimate of $0.88. Sales were $606.90 million, also surpassing the estimate of $595.62 million. Despite the beats, sales decreased by 1.48% year-over-year.
August 01, 2024 | 10:59 am
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Kontoor Brands reported better-than-expected Q2 earnings and sales, but sales decreased year-over-year. This mixed result may lead to short-term volatility in the stock price.
The earnings and sales beats are positive indicators and may lead to a short-term increase in stock price. However, the year-over-year sales decline could temper investor enthusiasm, leading to potential volatility.
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