Hanesbrands Backs Annual Guidance, Initiates Q2 Outlook

(RTTNews) - Hanesbrands Inc. (HBI), a clothing firm, on Thursday reaffirmed its annual guidance. In addition, the company has initiated second-quarter outlook.

For the full year, the company continues to project full-year earnings per share from continuing operations of approximately $0.42 to $0.46, with adjusted income per share from continuing operations of around $0.51 to $0.55.

Hanesbrands still expects net sales from continuing operations of around $3.47 billion to $3.52 billion, which includes projected headwinds of around $60 million from changes in foreign currency exchange rates. At the midpoint, net sales are expected to be relatively consistent with the prior year on a reported basis.

For the second quarter, the company anticipates net income per share from continuing operations of around $0.16 and adjusted income per share from continuing operations of $0.18.

Hanesbrands projects its second-quarter net sales from continuing operations to be around $970 million, which includes expected headwinds of approximately $15 million from changes in foreign currency exchange rates. Net sales are expected to be relatively consistent with the prior year on both a reported and organic constant currency basis.