Kontoor Brands Reports First Quarter 2021 Results; Raises Outlook for Fiscal 2021
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Kontoor Brands Inc. (KTB) Tops Q1 EPS by 56c, Revenues Beat; Raises FY21 EPS Guidance Above Consensus
May 6, 2021 7:36 AM EDTKontoor Brands Inc. (NYSE: KTB) reported Q1 EPS of $1.43, $0.56 better than the analyst estimate of $0.87. Revenue for the quarter came in at $652 million versus the consensus estimate of $605.88 million.
Q1 Reported EPS of $1.09; Adjusted EPS of $1.43Q1 Reported Revenue of $652 million increased 29 percent compared to the prior yearQ1 Reported Gross Margin increased 830 basis points to 46.1 percent compared to the prior yearStrong cash generation supported discretionary debt repayments totaling $100 million in the first quarterFiscal 2021 guidance raised; Adjusted EPS is now expected to be $3.70 to $3.80, up from the prior... More