HanesBrands Guides Q1, FY22 Adj. EPS Below Estimates - Quick Facts

(RTTNews) - While reporting financial results for the fourth quarter on Thursday, basic apparel maker HanesBrands, inc. (HBI) provided earnings and net sales guidance for the first quarter and full-year 2022.

For the first quarter, the company expects earnings from continuing operations in a range of about $0.20 to $0.27 per share and adjusted earnings in a range of about $0.24 to $0.31 per share on net sales from continuing operations between about $1.51 billion and $1.57 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $0.38 per share on net sales of $1.55 billion for the quarter. Analysts' estimates typically exclude special items.

For fiscal 2022, the company now projects earnings from continuing operations in a range of about $1.50 to $1.67 per share and adjusted earnings from continuing operations in a range of about $1.64 to $1.81 per share on net sales from continuing operations between about $7.0 billion and $7.15 billion.

The Street is looking for earnings of $1.89 per share on net sales of $7.02 billion for the year.

Looking ahead to fiscal 2024, the company raised its sales target to approximately $8 billion from the prior goal of approximately $7.4 billion.

The Company's Board of Directors declared a regular quarterly cash dividend of $0.15 per share, payable on March 8, 2022, to shareholders of record at the close of business on February 15, 2022.

The Company's Board of Directors also approved a three-year share repurchase program of up to $600 million of the Company's outstanding common stock through open market or privately negotiated transactions through December 28, 2024. Share repurchases are expected to begin in the first quarter 2022.

Additionally, the Company announced its intention to sell its U.S. Sheer Hosiery business.