HanesBrands: Q2 Earnings Snapshot

August 11, 2022 GMT

WINSTON-SALEM, N.C. (AP) _ HanesBrands Inc. (HBI) on Thursday reported second-quarter net income of $92.1 million.

The Winston-Salem, North Carolina-based company said it had net income of 26 cents per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, were 28 cents per share.

The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 33 cents per share.

The underwear, T-shirt and sock maker posted revenue of $1.51 billion in the period, also falling short of Street forecasts. Four analysts surveyed by Zacks expected $1.7 billion.

For the current quarter ending in October, HanesBrands expects its per-share earnings to range from 27 cents to 32 cents.

The company said it expects revenue in the range of $1.73 billion to $1.78 billion for the fiscal third quarter.

HanesBrands expects full-year earnings in the range of $1.11 to $1.23 per share, with revenue ranging from $6.45 billion to $6.55 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HBI at https://www.zacks.com/ap/HBI