Hanesbrands earnings for the fourth quarter of 2018 have HBI stock on the rise Thursday.
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Hanesbrands (NYSE:HBI) reports earnings per share of 48 cents for the fourth quarter of the year. This is a drop from the company’s earnings per share of 52 cents from the same time last year. However, it was a boon to HBI stock by coming in above Wall Street’s earnings per share estimate of 46 cents for the quarter.
The Hanesbrands earnings report for the fourth quarter of 2018 also includes net income of $161.62 million. This is better than the company’s net loss of $384.61 million reported in the fourth quarter of 2017.
Operating profit in the Hanesbrands earnings report for the fourth quarter of the year comes in at $244.91 million. The clothing company’s operating profit from the same period of the year prior was $125.75 million.
Hanesbrands earnings for the fourth quarter of 2018 also have it reporting revenue of $1.77 billion. This is an increase over the company’s revenue of $1.65 billion reported in the fourth quarter of the previous year. It was also great news for HBI stock by beating out analysts’ revenue estimate of $1.71 billion for the period.
The most recent Hanesbrands earnings report also includes its outlook for the full year of 2019. It is expecting earnings per share between $1.72 and $1.80 on revenue ranging from $6.885 billion to $6.985 billion. Wall Street is estimating earnings per share and revenue of $1.80 and $6.79 billion for 2019.
HBI stock was up 17% as of noon Thursday.
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As of this writing, William White did not hold a position in any of the aforementioned securities.
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