HanesBrands Guides Q4 Well Below Estimates - Quick Facts

(RTTNews) - While reporting financial results for the third quarter on Thursday, basic apparel maker HanesBrands, inc. (HBI) provided earnings, adjusted earnings and net sales guidance for the fourth quarter, well below analysts' expectations. . For the fourth quarter, the company expects earnings in a range of $0.24 to $0.29 per share and adjusted earnings in a range of $0.25 to $0.30 per share on net sales between about $1.60 billion and $1.66 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $0.45 per share on net sales of $1.71 billion for the quarter. Analysts' estimates typically exclude special items.

The company had withdrawn its first-quarter and full-year 2020 guidance on March 25, due to the uncertainty and unpredictability of the COVID-19 pandemic. It said it will not quarterly and full-year guidance and expectations, until visibility of the pandemic's effect on global economies improves.