Hanesbrands Inc. (HBI - Free Report) came out with second-quarter 2018 results. Adjusted earnings of 45 cents per share came a penny below the Zacks Consensus Estimate and declined nearly 15% from the prior-year quarter.
Earnings Estimate Revision: The Zacks Consensus Estimate for 2018 has trended upward in the last 7 days. In the trailing four quarters (excluding the quarter under review) the company beat the Zacks Consensus Estimate by an average of 1.6%.
Revenues: Net sales of $1,715.4 million rose 4.2% year over year. The Zacks Consensus Estimate was pegged at $1,711 million.
Outlook: Hanesbrands reaffirmed its 2018 outlook. The company still management still projects net sales in the band of $6.72 million to $6.82 billion. Further, it continues to envision adjusted earnings in the range of $1.72-$1.80 per share. For the third quarter, management projects net sales in a band of $1.85 billion to $1.9 billion. Adjusted earnings per share are envisioned in a band of 54-57 cents.
The Zacks Consensus Estimate for the third quarter and 2018 is currently pegged at 55 cents and $1.76, respectively.
Stock Movement: Shares of the company are down almost 8% during the pre-market trading session.
Zacks Rank: Currently, Hanesbrands has a Zacks Rank #3 (Hold), which is subject to change following the earnings announcement.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Check back later for our full write up on Hershey’s earnings report later!
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Hanesbrands Inc. (HBI - Free Report) came out with second-quarter 2018 results. Adjusted earnings of 45 cents per share came a penny below the Zacks Consensus Estimate and declined nearly 15% from the prior-year quarter.
Earnings Estimate Revision: The Zacks Consensus Estimate for 2018 has trended upward in the last 7 days. In the trailing four quarters (excluding the quarter under review) the company beat the Zacks Consensus Estimate by an average of 1.6%.
Revenues: Net sales of $1,715.4 million rose 4.2% year over year. The Zacks Consensus Estimate was pegged at $1,711 million.
Outlook: Hanesbrands reaffirmed its 2018 outlook. The company still management still projects net sales in the band of $6.72 million to $6.82 billion. Further, it continues to envision adjusted earnings in the range of $1.72-$1.80 per share. For the third quarter, management projects net sales in a band of $1.85 billion to $1.9 billion. Adjusted earnings per share are envisioned in a band of 54-57 cents.
The Zacks Consensus Estimate for the third quarter and 2018 is currently pegged at 55 cents and $1.76, respectively.
Stock Movement: Shares of the company are down almost 8% during the pre-market trading session.
Zacks Rank: Currently, Hanesbrands has a Zacks Rank #3 (Hold), which is subject to change following the earnings announcement.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Check back later for our full write up on Hershey’s earnings report later!
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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