HanesBrands Q3 Sales, EPS To Be Consistent With Its Guidance - Quick Facts

(RTTNews) - HanesBrands (HBI) announced it expects to report third-quarter net sales of approximately $1.80 billion, EPS of approximately $0.55, and adjusted EPS of approximately $0.60. Analysts polled by Thomson Reuters expect the company to report profit per share of $0.60 on revenue of $1.8 billion, for the quarter. Analysts' estimates typically exclude special items. Hanes expects year-to-date net cash from operations of approximately $330 million.

Hanes CEO Gerald Evans Jr, said: "We met our goal of returning to organic growth, and we continued to generate strong operating cash flow. Our sales and EPS results, driven by stronger-than-expected international growth, are expected to be consistent with our guidance."

The company also announced that it has purchased privately held Alternative Apparel in an all-cash transaction valued at approximately $60 million on an enterprise basis. Based in Norcross, Georgia, Alternative Apparel sells Alternative brand better basic T-shirts, fleece and other tops and bottoms. Alternative Apparel is expected to have full-year 2017 net sales of approximately $70 million.

Hanes will update its full-year guidance and release full third-quarter results on November 1.