HanesBrands (HBI) Reports In-Line Q2 EPS; Guides Below Views
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HanesBrands Announces Second-Quarter 2023 Results
August 10, 2023 7:00 AM EDTReports second-quarter net sales, operating profit and EPS from continuing operations within its guidance range Reduced total debt by nearly $100 million in the quarter Further reduced inventory by 12%, or $255 million, as compared to prior year Generated cash flow from operations of $88 million in the quarter and $132 million year-to-date Company continues to expect to exit the year with meaningfully higher gross and operating margins and lower inventory. Company also continues to expect to pay down more than $400 million of debt in 2023. Provides third-quarter 2023 guidance, updates full-year... More
