Hanesbrands Inc. (HBI), a clothing company, on Thursday revised up its annual guidance above analysts' expectations. In addition, the firm has initiated third-quarter sales outlook, better than Street view.
For fiscal 2025, the company now expects net income from continuing operations of around $0.59 per share, higher than the prior outlook of approximately $0.42 to $0.46 per share.
Excluding items, Hanesbrands now projects annual profit from continuing operations of $0.66 per share, compared with $0.51 to $0.55 per share previously.
Full-year sales from continuing operations are now anticipated to be approximately $3.53 billion, higher than the previous outlook of around $3.47 billion to $3.52 billion.
On average, six analysts polled forecast the company to record annual earnings of $0.54 per share, on revenue of $3.48 billion. Analysts' estimates typically exclude special items.
For the third quarter, the clothing company expects sales from continuing operations of approximately $900 million, higher than Street view of $895.47 million.
For the second quarter, the company registered a net income of $81.611 million, or $0.23 per share, compared with a loss of $298.380 million, or $0.85 per share, in the same period last year.
HBI was trading up by 24.73% at $5.20 on the New York Stock Exchange.
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