HanesBrands raised its full-year forecast Wednesday after completing its acquisition of DBApparel.
The underwear and T-shirt company now expects a 2014 adjusted profit between $5.40 and $5.60 per share. Its prior outlook was for $5.20 to $5.40 per share. Revenue is now predicted to be about $5.35 billion to $5.38 billion, up from a previous guidance of approximately $5.08 billion.
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Analysts surveyed by FactSet had been expecting a profit of $5.38 per share on revenue of $5.08 billion.
HanesBrands Inc. announced in June that it was buying DBApparel for $528 million. DBApparel sells socks and men's underwear in Europe. Hanesbrands and DBApparel had both been owned by Sara Lee Corp. In 2006, Sun Capital acquired DBApparel and HanesBrands was spun off into an independent and public company.
The acquisition of DBApparel is anticipated to add about $1 of adjusted earnings per share within three to four years.
Shares of HanesBrands, based in Winston-Salem, North Carolina, climbed 46 cents to $104.30 before the opening bell.