HanesBrands Guides FY20 Adj. EPS In Line With Estimates - Quick Facts

(RTTNews) - While reporting financial results for the fourth quarter on Friday, basic apparel maker HanesBrands, inc. (HBI) initiated its earnings and net sales guidance for the full-year 2020 and also provided outlook for the first quarter of fiscal 2020.

For fiscal 2020, the company now projects earnings in a range of $1.60 to $1.68 per share and adjusted earnings in a range of $1.72 to $1.80 per share on net sales between $6.675 billion and $6.775 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $1.76 per share on net sales of $6.82 billion for the year. Analysts' estimates typically exclude special items.

For the first quarter, the company expects earnings in a range of $0.17 to $0.20 per share and adjusted earnings in a range of $0.23 to $0.26 per share on net sales between $1.466 billion and $1.496 billion. Analysts expect quarterly earnings of $0.27 per share on net sales of $1.54 billion.

"Looking forward, we expect to create meaningful shareholder value using our strong balance sheet, stabilized Innerwear profitability, and Champion, International and consumer-directed growth. We view 2020 to be an inflection point for sales, profit and EPS growth rates that accelerate down the P&L," said Hanes CEO Gerald W. Evans Jr.

Further, the Hanes Board of Directors has declared a regular quarterly cash dividend of $0.15 per share, payable on March 10, 2020, to stockholders of record at the close of business Feb. 18, 2020.

The Board of Directors also approved a new share repurchase authorization of up to 40 million shares without expiration. The new plan replaces the company's previous share-repurchase authorization for 40 million shares that was approved in April 2016.