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Hanesbrands Inc. ( HBI - Analyst Report ) is scheduled to report its fourth-quarter and fiscal 2011 financial results before the opening bell on Wednesday, February 15, 2012. The current Zacks Consensus Estimate for the quarter is pegged at 51 cents a share. The Zacks Consensus Estimate projects revenues for the quarter to be $12,816 million.
The current Zacks Consensus Estimate for fiscal 2011 is pegged at $2.79 a share. The Zacks Consensus Estimate projects revenues for 2011 to be $56,615 million.
Third Quarter 2011 Recaps
Hanesbrands, which faces stiff competition from Limited Brands Inc. ( LTD - Analyst Report ) and Maidenform Brands Inc. ( MFB - Snapshot Report ) ), posted strong earnings for the third quarter of fiscal 2011.
Adjusted earnings for the quarter climbed 44.4% year over year to 91 cents. The earnings also surpassed Zacks Consensus Estimate of 82 cents by 10.9%.
Total revenue for the quarter increased 4.8% to $1,230.18 million from $1,173.36 million in the year-ago period. The growth in net sales was driven by strong performance of the Socks and male underwear segment. This segment posted the best sales figure boosted by the largest price hike in it in the quarter.
Management expects fourth-quarter net sales of $1.2 billion - $1.3 billion and diluted EPS of 47 cents – 57 cents. For the full year, management expects to generate earnings of $2.75 - $2.85.
Although management held its EPS projections steady, analysts revised their estimates downward, sending the stock to a Zacks #4 Rank (Sell). The fourth quarter 2011 Zacks Consensus Estimate is 51 cents compared to 42 cents reported in the previous year. The 2011 consensus estimate also moved higher and currently stands at $2.79.
Second-Quarter 2011 Zacks Consensus
Earnings estimates for the fourth quarter of 2011, as provided by the analysts, range from a low of 48 cents to a high of 53 cents. Thus, the current Zacks Consensus Estimate for the quarter is pegged at 51 cents per share.
Agreement of Analysts
Over the past 7 days, one of the nine analysts revised the earnings estimate downward and hence the current Zacks Consensus Estimate inched down by one penny over the last 7 days to the current level of 51 cents. The fiscal 2012 earnings estimate came down by one penny to $2.79 over the period.
Over the past 30 days, two of the nine analysts revised its earnings estimate downward. However the Zacks Consensus Estimate did not change over the period.
Earnings History Outpaces Zacks
With respect to earnings surprises, Hanesbrands has topped the Zacks Consensus Estimate in the preceding four quarters. Over the last four quarters, the earnings surprise ranged from a 0.00% to a positive of 48.48%, with the average earnings surprise being 29.73%.
Hanesbrands’ debt-ridden balance sheet and unfavorable foreign translations may weigh upon both the top and bottom lines.
Hanesbrands currently holds a short-term Zacks #4 Rank (Sell). On a long-term basis, we maintain a ‘Neutral’ rating.
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