Countdown to HanesBrands (HBI) Q3 Earnings: A Look at Estimates Beyond Revenue and EPS
In its upcoming report, HanesBrands (HBI) is predicted by Wall Street analysts to post quarterly earnings of $0.11 per share, reflecting a decline of 62.1% compared to the same period last year. Revenues are forecasted to be $1.54 billion, representing a year-over-year decrease of 7.6%.
The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
Given this perspective, it's time to examine the average forecasts of specific HanesBrands metrics that are routinely monitored and predicted by Wall Street analysts.
Analysts predict that the 'Net Sales- Innerwear' will reach $610.30 million. The estimate suggests a change of -2.4% year over year.
The average prediction of analysts places 'Net Sales- Activewear' at $389.76 million. The estimate suggests a change of -15.5% year over year.
The combined assessment of analysts suggests that 'Net Sales- Other' will likely reach $79.18 million. The estimate points to a change of -4.1% from the year-ago quarter.
The collective assessment of analysts points to an estimated 'Net Sales- International' of $456.63 million. The estimate indicates a year-over-year change of -9.1%.
View all Key Company Metrics for HanesBrands here>>>
Shares of HanesBrands have demonstrated returns of +16.7% over the past month compared to the Zacks S&P 500 composite's +3.1% change. With a Zacks Rank #3 (Hold), HBI is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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Hanesbrands Inc. (HBI) : Free Stock Analysis Report
