Hanesbrands shares jump after earnings and revenue beat
Hanesbrands Inc. shares jumped 4.6% in Thursday premarket trading after the maker of underwear and activewear reported fourth-quarter earnings and sales that beat consensus. Net income totaled $161.6 million, or 44 cents per share, after a loss of $384.6 million, or $1.06, last year. Adjusted EPS was 48 cents, beating the 46-cent FactSet consensus. Sales were $1.77 billion, up from $1.65 billion and ahead of the FactSet consensus of $1.71 billion. Hanesbrands expects 2019 sales of $6.885 billion to $6.985 billion, EPS of $1.59 to $1.67, and adjusted EPS of $1.72 to $1.80. FactSet expects sales of $6.815 billion and EPS of $1.80. Hanesbrands shares have declined 29.1% over the past year while the S&P 500 index has gained nearly 2% for the period. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.