HanesBrands Boosts FY21 Earnings Guidance - Quick Facts

(RTTNews) - While reporting financial results for the third quarter on Thursday, basic apparel maker HanesBrands, inc. (HBI) provided earnings and net sales guidance for the fourth quarter, and raised its earnings and adjusted earnings forecast for the full-year 2021.

For the fourth quarter, the company expects earnings in a range of about $0.24 to $0.29 per share and adjusted earnings in a range of about $0.40 to $0.45 per share on net sales from continuing operations between about $1.71 billion and $1.78 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $0.42 per share on net sales of $1.75 billion for the quarter. Analysts' estimates typically exclude special items.

For fiscal 2021, the company now projects earnings in a range of about $1.53 to $1.58 per share and adjusted earnings in a range of about $1.79 to $1.84 per share on net sales from continuing operations between about $6.76 billion and $6.83 billion.

Previously, the company expected earnings in the range of about $1.50 to $1.58 per share and adjusted earnings in the range of about $1.68 to $1.76 per share on net sales from continuing operations between about $6.75 billion and $6.85 billion.

The Street is looking for earnings of $1.74 per share on net sales of $6.81 billion for the year.