Hanesbrands Inc. (NYSE:HBI) released second-quarter 2019 results, wherein the top and bottom lines exceeded estimates. Also, the company’s sales grew year over year, while earnings remained flat. Results were driven by robust performance at Activewear and International segments.
The company posted adjusted earnings of 45 cents a share, which outpaced the Zacks Consensus Estimate by a penny. However, quarterly earnings remained flat year over year.
Net sales improved around 3% to $1,761 million and also surpassed the Zacks Consensus Estimate of $1,752 million. On constant-currency (cc) basis, organic sales were up 5%, marking the company’s eighth straight quarter of growth. The upside in this quarter was backed by increased sales from Activewear and International units, mainly fueled by strength in Champion.
Hanesbrands Inc. Price, Consensus and EPS Surprise
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