NYSE$HBI
Hanesbrands Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Hanesbrands drove improvement in core fundamentals while assessing business and options to unlock shareholder value.
HanesBrands Inc. announced third-quarter 2023 results, showing improvement in key performance metrics despite a challenging sales environment. The company reduced inventory, generated positive operating cash flow, and paid down debt. They also initiated an evaluation of strategic alternatives for their global Champion business.
- GAAP gross margin of 31.1% decreased 260 basis points compared to prior year; adjusted gross margin of 35.5% increased 100 basis points over prior year.
- Inventory reduced by 17% sequentially and 29% year-over-year.
- Cash flow from operations was $155 million for the quarter and $287 million year-to-date.
- Total debt reduced by $144 million in the quarter and approximately $270 million year-to-date; ended quarter with approximately $1.2 billion of liquidity.
Headline financials
Revenue & EPS history
Hanesbrands · Revenue · Quarterly
$1.51B
Forward guidance
The Company provided financial outlook for the fourth-quarter and full-year 2023, reflecting assumptions of muted global consumer demand and year-over-year improvement in fourth-quarter margins.
Tailwinds
- Net sales from continuing operations of approximately $1.36 billion for Q4 2023.
- GAAP operating profit from continuing operations of approximately $116 million for Q4 2023.
- Adjusted operating profit from continuing operations of approximately $131 million for Q4 2023.
- GAAP earnings per share from continuing operations of approximately $0.05 for Q4 2023.
- Adjusted earnings per share from continuing operations of approximately $0.09 for Q4 2023.
Headwinds
- Net sales from continuing operations of approximately $5.70 billion for FY 2023, representing an approximate 9% decrease compared to prior year.
- GAAP loss per share from continuing operations of approximately $(0.22) for FY 2023.
- Adjusted earnings per share from continuing operations of approximately $0.12 for FY 2023.
- Headwind of approximately $12 million from changes in foreign currency exchange rates is expected for Q4 2023 sales.
- Headwind of approximately $65 million from changes in foreign currency exchange rates is expected for FY 2023 sales.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 15 quarterly earnings reports · overlaid with Q3 2023
-1.7%
Avg return
Earnings day
+1.0%
Avg return
5 days after
-0.8%
Avg return
30 days after
39%
25 / 64 earnings
Positive
+17.2%
Q4 2020
Best reaction
-24.8%
Q4 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | — | — | — | |
| Q3 2025 | -3.3% | -2.6% | — | |
| Q2 2025 | +11.8% | +48.3% | +54.1% | |
| Q1 2025 | +4.1% | +10.0% | +2.3% | |
| Q4 2024 | -18.5% | -20.6% | -23.4% | |
| Q3 2024 | +12.7% | +12.4% | +19.2% | |
| Q2 2024 | +17.1% | +16.3% | +21.5% | |
| Q1 2024 | +11.2% | +11.0% | +16.4% | |
| Q4 2023 | -9.3% | -3.8% | +20.4% | |
| Q3 2023 | -4.7% | -1.4% | -8.5% | |
| Q2 2023 | +4.3% | +3.4% | -11.1% | |
| Q1 2023 | -11.2% | -11.6% | -10.2% | |
| Q4 2022 | -24.8% | -31.3% | -33.2% | |
| Q3 2022 | -4.0% | +3.8% | -10.3% | |
| Q2 2022 | -8.6% | -3.4% | -20.5% | |
| Q1 2022 | -11.1% | -14.0% | -16.9% | |
| Q4 2021 | -0.5% | +0.9% | -2.2% | |
| Q3 2021 | -1.6% | -1.2% | -9.9% | |
| Q2 2021 | +8.1% | — | — | |
| Q1 2021 | -14.3% | — | — | |
| Q4 2020 | +17.2% | — | — | |
| Q3 2020 | -21.5% | — | — | |
| Q2 2020 | -3.5% | — | — | |
| Q1 2020 | -7.8% | — | — | |
| Q4 2019 | -3.7% | — | — | |
| Q3 2019 | -3.4% | — | — | |
| Q2 2019 | -5.8% | — | — | |
| Q1 2019 | -1.8% | — | — | |
| Q4 2018 | +14.6% | — | — | |
| Q3 2018 | -7.0% | — | — | |
| Q2 2018 | -17.9% | — | — | |
| Q1 2018 | -6.4% | — | — | |
| Q4 2017 | -12.3% | — | — | |
| Q3 2017 | -10.8% | — | — | |
| Q2 2017 | +3.2% | — | — | |
| Q1 2017 | -5.0% | — | — | |
| Q4 2016 | -18.3% | — | — | |
| Q3 2016 | +7.9% | — | — | |
| Q2 2016 | -5.8% | — | — | |
| Q1 2016 | +1.3% | — | — | |
| Q4 2015 | -18.0% | — | — | |
| Q3 2015 | +17.0% | — | — | |
| Q2 2015 | -8.0% | — | — | |
| Q1 2015 | -5.6% | — | — | |
| Q4 2014 | -2.7% | — | — | |
| Q3 2014 | -3.2% | — | — | |
| Q2 2014 | +3.3% | — | — | |
| Q1 2014 | +6.1% | — | — | |
| Q4 2013 | +13.0% | — | — | |
| Q3 2013 | +6.3% | — | — | |
| Q2 2013 | +6.1% | — | — | |
| Q1 2013 | +3.0% | — | — | |
| Q4 2012 | +4.1% | — | — | |
| Q3 2012 | -1.6% | — | — | |
| Q2 2012 | +4.8% | — | — | |
| Q1 2012 | +10.3% | — | — | |
| Q4 2011 | +0.6% | — | — | |
| Q3 2011 | -1.2% | — | — | |
| Q2 2011 | +1.3% | — | — | |
| Q4 2009 | -1.9% | — | — | |
| Q1 2011 | +0.8% | — | — | |
| Q3 2010 | -5.5% | — | — | |
| Q4 2010 | -2.4% | — | — | |
| Q2 2010 | -2.4% | — | — | |
| Q1 2010 | -1.8% | — | — |
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