Hanesbrands (HBI) 2Q17 Results: Company Meets Expectations, Reaffirms Guidance

Executive Summary

• Hanesbrands reported 2Q17 adjusted EPS of $0.53, up 3.9% year over year and in line with the consensus estimate. Revenues were also in line with consensus, at $1.65 billion, up 11.8% year over year.
• The company’s International segment saw sales increase by 76% as a result of acquisitions and strong performance in Asia.
• For 3Q17, the company raised its adjusted EPS guidance to $0.59–$0.61 from $0.51–$0.54 previously. Hanesbrands reaffirmed its full-year guidance for net sales, operating profit, EPS and cash flow from operations.