Hanesbrands Inc. Q3 Profit Decreases, but beats estimates

(RTTNews) - Hanesbrands Inc. (HBI) released earnings for third quarter that decreased from last year but beat the Street estimates.

The company's earnings came in at $80.10 million, or $0.23 per share. This compares with $151.78 million, or $0.43 per share, in last year's third quarter.

Excluding items, Hanesbrands Inc. reported adjusted earnings of $102.06 million or $0.29 per share for the period.

Analysts on average had expected the company to earn $0.27 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 6.7% to $1.67 billion from $1.79 billion last year.

Hanesbrands Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $80.10 Mln. vs. $151.78 Mln. last year. -EPS (Q3): $0.23 vs. $0.43 last year. -Analyst Estimates: $0.27 -Revenue (Q3): $1.67 Bln vs. $1.79 Bln last year.

-Guidance: Next quarter EPS guidance: $0.04 - $0.11 Next quarter revenue guidance: $1.40 - $1.45 Bln Full year EPS guidance: $0.95 - $1.02 Full year revenue guidance: $6.16 - $6.21 Bln