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HanesBrands Inc. (HBI) delivers essential apparel solutions through iconic brands like Hanes and Champion. This news hub provides investors and industry professionals with timely updates on corporate developments shaping the global apparel sector.
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HanesBrands announced first-quarter 2024 results with net sales of $1.16 billion, meeting expectations. Gross margin increased 750 and 720 basis points for GAAP and adjusted, respectively. Operating profit was $52 million, adjusted operating profit exceeded expectations at $84 million. Inventory reduced by 28% year-over-year. Cash flow from operations was $26 million. Leverage reduced to 5.0 times net debt-to-adjusted EBITDA. Second-quarter 2024 guidance includes net sales of $1.335 billion to $1.375 billion. Full-year 2024 guidance reiterated with expected strong profit and EPS growth. Company plans to pay down over $300 million of debt in 2024.
HanesBrands (NYSE: HBI) announced details for its first-quarter 2024 earnings announcement and investor conference call set for May 9, 2024. The company will reveal financial results for the quarter ended March 30, 2023, before the conference call. Participants can join via telephone or webcast, with a Q&A session included. HanesBrands, known for popular brands like Hanes, Champion, Bonds, Maidenform, and Bali, aims for long-term growth and sustainability.
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