Kontoor Brands Sees FY24 Revenue Of $2.60B Vs. $2.613B Estimate (Prior View: $2.57B-$2.63B); Sees Adjusted EPS Of $4.83 Vs. $4.77 Estimate (Prior View: $4.80)
Portfolio Pulse from Benzinga Newsdesk
Kontoor Brands has updated its FY24 revenue and EPS guidance. The company now expects revenue of $2.60 billion, slightly below the previous estimate of $2.613 billion, but within the prior range of $2.57B-$2.63B. Adjusted EPS is expected to be $4.83, above the previous estimate of $4.77 and prior view of $4.80.
October 31, 2024 | 10:59 am
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Kontoor Brands has revised its FY24 revenue guidance to $2.60 billion, slightly below the consensus estimate but within the prior range. The adjusted EPS guidance is raised to $4.83, exceeding the consensus estimate.
The revised revenue guidance is slightly below the consensus estimate, which might be seen as a negative. However, the increase in EPS guidance to $4.83, above the consensus estimate, is a positive indicator of profitability. This could lead to a positive short-term impact on the stock price as investors may focus on the improved earnings outlook.
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