HanesBrands: Q3 Earnings Snapshot

Associated Press Finance
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WINSTON-SALEM, N.C. (AP) — WINSTON-SALEM, N.C. (AP) — HanesBrands Inc. (HBI) on Thursday reported a loss of $38.8 million in its third quarter.

The Winston-Salem, North Carolina-based company said it had a loss of 11 cents per share. Earnings, adjusted for non-recurring costs, were 10 cents per share.

The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 11 cents per share.

The underwear, T-shirt and sock maker posted revenue of $1.51 billion in the period, also missing Street forecasts. Three analysts surveyed by Zacks expected $1.54 billion.

For the current quarter ending in December, HanesBrands expects its per-share earnings to be 9 cents.

The company said it expects revenue in the range of $1.36 billion for the fiscal fourth quarter.

HanesBrands expects full-year earnings to be 12 cents per share, with revenue expected to be $5.7 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HBI at https://www.zacks.com/ap/HBI

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