Executive Summary

• HanesBrands reported 2Q18 revenues of $1.72 billion, up 4.2% year over year and beating the $1.71 billion consensus estimate. Adjusted EPS of $0.45 was down from $0.53 in the year-ago quarter, slightly below the $0.46 consensus estimate and at the midpoint of the company’s $0.44–$0.46 guidance range.
• By segment, the international business performed best, with sales up 14.9% year over year, followed by global activewear, with sales up 12%, and global innerwear, with sales up 1%.
• HanesBrands reiterated its FY18 net sales guidance of $6.72–$6.82 billion, in line with the consensus estimate of $6.77 billion. The company expects full-year adjusted EPS of $1.72–$1.80, in line with the consensus estimate of $1.76.